This organization is taking a new approach to volunteer benefits

• Key Insight: Learn how companywide volunteer weeks strengthen recruitment, retention and employee engagement.
• Supporting Data: 79% of employees in work-sponsored volunteering report job satisfaction (SHRM).
• Forward Look: Volunteer programming will be embedded in employer value propositions and talent strategies.
  Source: Bullets generated by AI with editorial review

Employee volunteering programs don't just benefit communities but can strengthen the workforce itself, according to industry data, which financial services company Manulife found true in hosting its inaugural volunteer initiative.

This past spring, Manulife launched Global Impact Week, a companywide volunteer initiative for their workforces in the U.S., Canada and Asia. The plan was designed to bring employees together through community service and is just one part of the organization's ongoing strategy to connect employees beyond their day-to-day roles through team events, social activities, and employee resource groups in an effort to strengthen existing recruitment, retention and engagement goals. 

"I think it's really important to foster community in today's geopolitical environment," said Pragashini Fox, Manulife's global chief people officer. "The world is moving at a fast pace and it's critical that we're grounded to our culture and what holds us together as a team."

Read more: Cisco's volunteer benefit programs build culture and community

Traditionally, organizations have bundled volunteer efforts with their PTO policies, giving employees certain hours they can take off to volunteer at places of their choice. During Impact Week, however, employees were encouraged to use their annual paid volunteer day together as opposed to seeking opportunities on their own. Manulife offered a range of community programs, which included food banks, local schools, and outreach centers across the globe and were available to every employee in every role. For example, the company's CEO and a team visited an elementary school to teach students about financial literacy. 

Fox herself and another group volunteered at the Waterloo Reconciliation Outreach Center, where they packaged food for the community and learned more about reconciliation efforts — a new experience she said she enjoyed. 

"There were a lot of social interactions between people that have never met despite working together for years," Fox said. "'I volunteered with colleagues that I normally don't work with and the general sense of serving together, learning together, creating that sense of connection was deeply appreciated." 

Demonstrating purpose through action

According to the Society for Human Resource Management, 79% of employees who participate in work-sponsored volunteer programs report being satisfied with their jobs, compared to only 55% of employees who do not. Another study from nonprofit organization America's Charities found that around 70% of employees prefer working for companies that care about their societal impact. This is why, according to Fox, it's important to invest in activities such as seasonal socials, family-friendly events, and wellness initiatives. At Manulife, the overall goal is for all of these initiatives to play directly into attracting and retaining competitive talent. 

Read more: Why credit unions are paying employees to do volunteer work

"Today's job candidates want proof that an organization's values extend beyond mission statements," Fox said. "Which is why initiatives like Impact Week are designed to demonstrate purpose through action."

By creating shared experiences centered on community, connection and employee involvement at every level, from the executive team to individual colleagues, Manulife is aiming to strengthen engagement, and build pride and a long-term and committed workforce. 

"We can all purchase technology and we can copy processes, but people are the differentiator," Fox said. "It sounds cheesy, but people make a difference and therefore engagement and bringing our colleagues together is what supports our talent attraction and retention."