Good morning!
Companies around the world right now are looking to combat employee disengagement with all sorts of perks from wellness offerings to caregiving services. But one benefit may be moving the needle more than any other.
Volunteering is the most influential tool when it comes to improving employee well-being, according to reporting from my colleague Beth Greenfield. She found that while gym memberships and mental health subsidies are seen as core elements of a wellness package, nothing boosts it quite like philanthropic activities. Corporate volunteering programs can foster new skills, connectivity, and lead to positive health outcomes. One study published by the University of Oxford’s Wellbeing Research Centre in 2024, which analyzed data from 50,000 U.K. employees, even found that volunteering was the only wellness intervention that made a difference for workers.
“It instills a bit more social meaning,” William Fleming, a sociologist and research fellow at the University of Oxford, who worked on the study, tells Fortune. “Especially if you’re working for a big corporate global organization [where] it can feel like you’re just making money for the man and spinning paper sheets around.”
Volunteering programs are also growing in popularity. Around 61% of employers saw an increase in employee volunteering participation last year, according to a 2023 study from the Association of Corporate Citizenship Professionals. And corporate volunteer programs grew more in 2023 than any previous year, according to a 2024 report from Benevity, a company that helps companies create philanthropic benefits.
About 79% of employees who participate in their company’s volunteer program are satisfied with their jobs, compared to 55% of staffers who didn’t partake, according to a 2023 survey from Edge Research for investment business Ares Management. That should be good news for employers looking to boost worker morale, Kelly Baker, chief human resources officer at financial services organization Thrivent, tells Fortune.
“It’s a big competitive advantage from a talent perspective,” she says.
Read more about the power of corporate volunteering programs here.
Emma Burleigh
emma.burleigh@fortune.com
Happy Thanksgiving! CHRO Daily will be off on Thursday for the holiday. We’ll be back in your inbox on Friday, Nov. 29.
Today’s edition was curated by Brit Morse.
Around the Table
A round-up of the most important HR headlines.
Retail giant Walmart is the latest large company to pull back on various DEI initiatives, including ceasing funding for its nonprofit Center for Racial Equity. New York Times
A Texas federal judge has struck down a U.S. Department of Labor rule that would have expanded overtime eligibility to four million new workers. Bloomberg Law
Workers embracing the digital nomad lifestyle often struggle with loneliness. A variety of virtual communities are helping these employees make lasting friendships. WIRED
Watercooler
Everything you need to know from Fortune.
Rage firing. After most of his employees missed a morning meeting, one CEO fired 90% of his staff. Here why he says he doesn’t regret it. —Jane Thier
Faux self. Billionaire and Silicon Valley veteran Marc Andreessen has some pretty brutal advice for employees who want to bring their full selves to work: Don’t. —Eleanor Pringle
Working life. CEO of luxury fashion conglomerate LVMH Bernard Arnault decided to extend his own retirement from 75 to 80. Warren Buffet says he’s making a huge mistake. —Prarthana Prakash
