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Newest Trend In Employee Benefits Packages: VTO

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In the ever-changing world of Human Capital, employee benefits, and organizational leadership, there is one trend that has emerged as a powerful driver of retention, and it looks to be here to stay.
This perk is immensely popular with younger employees, especially those in the Millennial generation. Many of the top companies around the world have put this benefit into practice. I’m talking about VTO, or Volunteer Time Off.

One thing is for sure: there is no better time to get your team out helping those who need it most than during the Holiday season!

And if the concept of paid volunteer time is new to you, don’t worry. VTO is a relative newcomer to the stable of benefits and perks most organizations offer.

What is VTO, or Volunteer Time Off?

Here are the basics:

VTO is a form of Paid Time away from work, where the employee spends time they would normally be at work volunteering in the community.

The kind of volunteer work, the specific organizations that qualify, and the amount of time an employee is eligible all vary from employer to employer.

Research shows that not only do employees respond favorably to this opportunity, but so do the business providing this benefit.

SHRM reports that the availability of Community Volunteer Programs has increased year over year with nearly half of all Organizations offering them in some capacity in 2018.

What makes this perk particularly potent in the modern workplace is the high degree to which it resonates with young adults. More than any previous generation, Millennials have made known their desire to contribute to a larger, loftier cause than just simply “getting the job done.” They want to make a real impact, and be part of a tangible change.

What better way to motivate them, and to engender their loyalty to your company, than to provide them with the means and opportunity to do just that?

The numbers don't lie: The best way to show that you value your Millennial workers, is to show that you value what they value.

By implementing a VTO program that allows them to take sponsored time to contribute to a cause that matters to them, you can gain their trust and respect and feel good about doing it.

There are lots of team-oriented benefits to a VTO program as well. If you decide to allow a group of employees to support a single cause, you can all pitch in to maximize the impact. This will also give people on your team the opportunity to shine in novel ways and can open new lines of communication and foster a sense of camaraderie between employees.  

Not to mention the fact that all of this attention to giving back will reinforce positive sentiment about your organization and brand, both internally and externally.

"Giving back will reinforce positive sentiment about your organization and brand, both internally and externally."

And oh yeah, one more thing. Serving others, especially the needy, is just the right thing to do!

So, if you don’t have a VTO plan, look into launching one for your company.

If you do have one, think about ways to advertise it internally and boost participation - you never how big of a positive change you will see in your organization once people start focusing on serving others.

And lastly, make sure you are leading this charge by example. Get out there and show them how rewarding this kind of program can be.
Get our FREE bullet-proof action guide with practical steps you can take RIGHT NOW to unlock the infinite potential of a young team.

8 Ways to Get Millennials to WANT to Work for You.

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