Since its inception in 1994, Citizens Financial Group's sabbatical program has generated more than 48,000 volunteer hours and saved nonprofit organizations more than $1 million. But the benefits of the program go beyond just doing good in the community. The program also acts as a powerful retention and engagement tool.

"One of the things that is most impactful and a benefit to the organization is that [sabbatical participants] come back more engaged, more excited about the work that they do," says Cindy Erickson, executive vice president and head of human resources with Citizens Financial Group.

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