15 September 2008
A rise in volunteering challenges the City downturn
Top City firms and recruitment specialists see volunteering as
crucial to success – as more business people than ever before are
volunteering
Volunteering is fast becoming the latest trend amongst
high-flyers in the City. City Action brokers volunteering
activities for City-based firms and they have released figures
showing a steady growth in employee volunteering uptake. The total
number of volunteering instances increased 39% YOY in the first
quarter of 2008/9 compared with the first quarter of 2007/8. The
number of volunteering instances in April in particular was up
+128% YOY. Furthermore, City Action’s new corporate clients (City
firms who encourage their staff to volunteer) increased by 114%
over the last six months, with 15 new clients compared to seven new
clients in the previous six months.
The trend is garnering some high profile City advocates with
City Hall recently announcing that all staff are to be given a
‘volunteer day’ off a year with Boris Johnson and senior aides
joining in. Credit Suisse’s Head of Global Research, Giles Keating
was named 2007 Volunteer of the Year at the Lord Mayor’s Dragon
Awards for his efforts establishing VoiceMail4all, a project that
offers homeless people free access to a voicemail service, and
Merrill Lynch’s Chairman of Europe, Middle East, Europe and Africa,
Bob Wigley is also chair of the global investment bank’s education
arm of their Corporate Social Responsibility programme.
That volunteering is proving to be so popular demonstrates its
multiple attractions from both an individual’s and the firm’s point
of view. Employee volunteering is a key way of engaging staff – it
improves staff morale, gives a good impression to both existing and
potential clients, and promotes the company values whilst raising
the company profile. For the individual, they are engaging with
their local community to support a cause they feel passionate about
whilst developing their personal and professional skills, and
improving their job prospects.
Stuart Fraser, Chairman of the Policy and Resources Committee at
City of London Corporation, says, ‘Volunteering initiatives
encourage employees to utilize their existing professional
expertise, skills and knowledge whilst providing training
opportunities to gain core competencies required by their employer
(e.g. project management skills, time management skills,
communications skills, organisational skills etc.) It is a
cost-effective way of developing office skills whilst also helping
the community.’
Example volunteering initiatives undertaken through City Action
include:
- State Street professionals supporting numeracy initiatives at
St Luke's Primary School in Tower Hamlets and one employee taking
on the role of a School Governor.
- ABN AMRO HR recruitment professionals providing employability
and interview day careers advice to students from Central
Foundation Girls School.
- Standard Chartered Bank plc IT professionals developing and
redesigning a website for Karibu Centre.
In support of this trend, recruitment firms confirm that
volunteering is now considered a vital part of a City employee’s
CV:
Ryan Edwards, Marketing Manager, Cityjobs.com, says, ‘The
primary advantage is the competitive edge it can give you over
other candidates who have applied for the same position.
Volunteering helps to highlight your motivation, teamwork and
leadership skills which are all positive attributes to a potential
employer. During a time where some City companies are becoming
increasingly selective about the number of hires they make,
volunteering could be the one thing that helps to make you a
memorable candidate.’
Rachael Hewson, Associate Director, Mason Blake: ‘All City
corporations should not only encourage their employees to
volunteer, but have it as standard practice. Too many City workers
are unaware of schemes happening around them; it can be easy to be
ignorant of the wider community. Discussion points outside your
working life that show a thoughtful human element to your
personality are a plus in job interviews.’
Andrea Eccles, Director at City HR Association, says, ‘City
firms are now targeting candidates, particularly recent graduates,
with volunteering work on their CVs; for recruiters with an
increasingly competitive set of applicants, it is the difference
between a good candidate and an exceptional one. Volunteering
encourages candidates to utilise their own professional skills,
expertise and knowledge while providing training opportunities to
gain core competencies required by their employer, such as
communication and organisational skills.'
James O'Shea, Managing Consultant, McGregor-Boyall, says, ‘We
have noticed that in more competitive sectors of the market,
clients are often very keen to find candidates who have proven
themselves to have additional skills outside of the technical
demands of a role specification. Frequently candidates will have a
preference to work for companies that offer them a chance to give
back to communities both individually, through allowances for time
taken by voluntary work, and as part of a larger initiative to
embrace a responsible corporate attitude.’
Andy Evans, Managing Director, Morgan McKinley, says, ‘Even with
the right skills and knowledge, financial institutions want people
with personality. They’re on the lookout for a combination of good
qualifications and life skills, ultimately well-rounded individuals
with a good attitude. In the current economic climate, where
competition between graduates wanting to get into the City is
tight, having a point of difference on a CV that gives a
prospective employer an insight into the individual’s personality
is certainly beneficial.’
Furthermore, despite the current contraction in growth in the
City, firms are determined to invest in the future by maintaining
their Corporate Social Responsibility activities:
James Wallace, Corporate Responsibility Manager, Royal and
SunAlliance, says, ‘A volunteering programme aligned strongly with
themes that relate to your business means a greater return on
investment. Our experience suggests volunteering delivers greater
employee retention and motivation for our employees. In 2008, we
are finding our community programme is more critical than ever in
rewarding, developing and retaining the best people.’
Steve Wish, Europe Management Committee Community Champion,
Standard Chartered, says, ‘Since the beginning of the year,
Standard Chartered has actively promoted its employee volunteering
programme, which gives two days of paid leave to every employee. We
have continued to see a steady take up of volunteering activities
throughout the Bank with strong managerial support and
participation in the scheme at all levels.’
Marcus Jamieson-Pond, Corporate Social Responsibility Manager,
Addleshaw Goddard, says, ‘The community programme at Addleshaw
Goddard still goes from strength to strength, with over 40 per cent
of the firm recently giving a day to take part in one of 37 events
organised over a three-week period. True, every business is feeling
the squeeze on budgets, but when times are difficult, strong
businesses will take steps to reinforce their vision.’
Ends
Notes for editors
Established in 1998 by the City of London Corporation, City
Action acts as a free volunteering broker to facilitate the
transfer of time, skills and resources between City firms and
community-based organisations in the City and the seven surrounding
boroughs: Camden, Hackney, Islington, Lambeth, Southwark, Tower
Hamlets and Westminster. Engaging firms in practical activities
enables them to contribute to the social and economic regeneration
of these boroughs. City Action aims to put business at the heart of
the community. See more on
www.city-action.org.
Press contact
Rosalind Jeffcoat or Lizzie Boylan Ward at Rain UK
T: 020 7222 4345
E:
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