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VTO (Voluntary/Volunteer Time Off)

VTO is short for ‘volunteer time off’. It is when companies offer paid days or even hours off for employees to volunteer their work time for a community cause.
 
Companies across the globe have discovered that paid time-off can be a positive engagement tool. That is why VTO doesn’t cut into sick or vacation time. It offers a positive employer brand boost to the potential recruits.
 
Today, a VTO Policy is essential for every company to encourage clarity around the time-off program. It serves as a framework for the HR staff to lay upon the foundation of a concrete and scalable volunteering program.
 
Benefits of A VTO Policy
The concept of corporate social responsibility has been around for years. While doing good for the community, companies have embraced the concept to boost their brand and garner consumer loyalty.
 
Many companies donate for causes across the spectrum. However, companies are taking this one step ahead by introducing volunteering at the workplace and encouraging the employees to take time-off. Several studies have shown the benefits of this on morale, engagement, retention and employer brand image.
 
Here are some of the key benefits of introducing a VTO policy in your company:
 
  • Recruitment

Most companies struggle to attract top talent, especially with fierce competition. A celebrated VTO policy will get you bonus points to get popular with the prospects; especially the millennials. Last year, Fortune published a poll showing that 18- to 34-year-olds were more likely to want to work for a company with a history of social activism.

 
  • Retention

Several researches and surveys have repeatedly highlighted the positive retention rates for companies that offer volunteering. It makes sense to come to work when you work for a philanthropic organization. Volunteering is a powerful tool to engage your workforce.

 
  • Corporate Visibility

The same Forbes study also talks about how employees are four times more likely to talk about their volunteer efforts and the company. It doesn’t just create a positive employer brand but also impacts the business across the levels.

 

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