Goodera’s India Corporate Volunteering Quotient 2024 Report

Goodera launched its Corporate Volunteering Quotient 2024 India Report, offering actionable insights into corporate volunteering practices across India. The report draws from an extensive analysis of 66 ESG reports and submissions from companies in various industries, such as Financials, Industrials, Consumer Goods, Technology, Energy, and Commercial and Professional Services.

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Key volunteering trends revealed in the report:

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• Workforce Participation Rates: The median workforce participation across corporate volunteer programs stands at 29.2%. Notably, companies in the consumer goods and services sector lead the pack with a participation rate of 38%, followed closely by industrials (31%). Smaller companies (employee size <5,000)  have higher engagement rates at 49%, with participation dropping to 19% for companies with 50,000 employees or more.‍
• Average Volunteering Hours:
On average, a corporate volunteer contributes 3.4 hours of volunteering time. Companies in the Technology sector exhibit the highest average volunteering hours per participant at 6.8 hours. The energy sector follows this at an average of 5.56 hours, financials and industrial at an average of 4.47 hours, while consumer goods and commercial services fall below India's average of 3.4 hours per volunteer.‍
• Impact of Volunteering Enablers:
Companies that leverage volunteering enablers like Volunteer Time Off, Volunteer Grant programs, etc., display a workforce participation rate 1.6 times higher than those that do not. This highlights the importance of implementing effective strategies to encourage employee engagement in volunteering activities.