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Paid volunteer time is becoming more common and in demand as an employee benefit. Here’s how several credit unions are approaching VTO.
Corporate social responsibility is capturing greater focus across industries, especially as socially and environmentally conscious millennials and Gen Zers enter the workforce.
“In Deloitte’s 2017 Volunteerism Survey, close to 70% of employees said they are not volunteering as much as they would like to, with nearly two-thirds of respondents attributing this to the fact that they can’t dedicate time during the day to volunteer,” reported Lattice, an HR and performance consulting firm, in 2020.
Volunteer time off is an employee benefit that has gained traction recently among businesses wanting to enhance their CSR initiatives and make an impact on their communities—and now, their remote workers’ communities. Bamboo HR defines VTO as follows:
“Volunteer time off is a form of paid leave where employees receive their regular compensation for hours spent in service to an approved charitable or community organization. Volunteer time off policies can help attract employees to an organization by giving them latitude to make a difference outside the organization. They also provide employers with a way to support non-profits or communities with more than just a monetary donation.”
According to the Society for Human Resource Management’s (SHRM) 2019 Employee Benefits Survey, 26% of employers offer paid time off for volunteering as a benefit. This is a 10% increase from 2014.
Last June, U.S. News reported that 46% of 200 large companies it surveyed in the finance, technology and digital media industries offer paid time off to volunteer.
VTO Policies in the CU Space
Given the prevalence of VTO benefits in the financial sector and credit unions’ “people helping people” philosophy, it’s no surprise that credit union HR professionals are discussing their volunteer programs post-pandemic.
CUES member Kelly Roach, HR specialist for $671 million ProFed Federal Credit Union, Fort Wayne, Indiana, sought input from other members of the CUESNet community earlier this year, writing:
“Does anyone currently have a VTO policy they would be willing to share? Also, if you currently offer VTO, I would love to hear some feedback:
- Do most people use all their VTO hours?
- Has it increased morale?
“Positive and negative feedback is appreciated!”
Several CUES members outlined their policies and experiences. With their permission, we’re sharing them below.
Miranda Madden, VP/human resources for $632 million Sooper Credit Union, Arvada, Colorado, wrote:
“We offer 12 hours of VTO to our full-time employees and six hours of VTO to our part-time employees after 90 days of employment. Our VTO does not roll over, but instead resets at the beginning of the year.
“We find that most employees don’t use all of their hours, and we get most usage out of volunteer events that we organize instead of them going out on their own. Those who do like to volunteer really like our VTO program and are motivated to use their VTO time for volunteer events they care about.”
Lauren Lopp, director/culture & diversity at $4.9 billion WSECU, Olympia, Washington, wrote:
“We have had a VTO policy for quite some time now. We provide eight hours per year for full-timers and four for part-timers. Last year, 27% of our employees used their full hours and 42% participated at some level. We expect to see these numbers grow as we come further away from COVID.
“Many new hires in NEO (new employee orientation) share that volunteer hours and community involvement are a big reason why they chose to apply and come to work with us. We promote opportunities in our various communities and organize events throughout the year that make it easy to sign up to use hours, but we also let employees choose (within parameters) to volunteer for something they’re passionate about, like with their child’s school or another area they really feel called in.
Derek Fuzzell, CPA, CMA, CSCA, chief financial & strategy officer at $288 million PAHO/WHO Federal Credit Union, Washington, DC, wrote:
“We offer up to 40 hours of paid volunteer time for our employees and see about half of our organization using the 40 each year. As part of performance reviews, employees are rated on community involvement, which can be within the communities we serve, the credit union industry (leagues, associations, corporate credit union, World Council, etc.), or within the profession of the employee (accounting, legal, compliance, etc.).
“We have generally had good responses from employees about volunteering, though every now and then we get the occasional skeptic who doesn’t want to do community service. However, I have heard from several employees that they appreciate the corporate support of their desire to improve their communities or to help others.”
Jana Chamberlin, instructional design manager at $4.1 billion Northwest Federal Credit Union, Herndon, Virginia, wrote:
“We’ve offered VTO for several years now. Our program offers all employees up to 24 hours of paid volunteer time annually. If you volunteer during your regular work schedule, you have to obtain approval from your manager to ensure there’s proper staffing and then it has to be recorded in your T&A (time and attendance). The hours aren’t transferrable, and they don’t carry over. An employee cannot use the hours volunteered as overtime hours or in any way that it may cause OT to go into effect. We offer sponsored events and have partnered with a lot of organizations throughout the area but also encourage staff to use their hours towards other 501(c)(3) organizations and events. Additionally, we offer tracking in T&A for volunteer hours outside of regular work hours that goes towards our annual goal. This means hours not paid because the event was on a Sunday, as an example, can still be added to their timecard to count towards our annual goal.
“The more that we champion and make events and opportunities available with community partners in our area, the more we do see.
“One thing that comes up fairly frequently is whether events we sponsor or a booth set up for a charitable event count towards volunteerism. There can be a fine line, and communication needs to be clear on that point when you’re looking for ‘volunteers.’ Sponsored events, like a member appreciation day or attending a local city festival, wouldn't typically count towards volunteer hours, but an event such as a Glow Run, for example, may.
“We have our own foundation, which is a wholly owned subsidiary and 501(c)(3) that offers many different opportunities to volunteer throughout the year. They have a lot of events, and I am on several of their committees. The hours I am in meetings with them assisting with planning events, mentoring or setting up new guidelines for our scholarship program are just a few different ways that I contribute towards my volunteerism hours.”
If you’re a CUES member, feel free to join in the discussion on CUESNet! All readers are also welcome to share their policies, questions and feedback in the comments below.
Danielle Dyer is an editor at CUES.
