Employee volunteer programs make employees feel good by contributing, help positively position the company in the community, and enable development of new employee skills. Volunteer programs can also connect employees to a more diverse social network that can offer referral recruiting opportunities.

A strategy for diversity recruiting will encourage your organization to draw from a wider candidate base, build teams that foster innovation, and more accurately reflect your local as well as global customers.

Likewise, the buzz phrase “employee engagement” is important to your company because your workforce will be happier, more involved, and productive.

Obviously, these are all nice to have. Now think about it this way:

The Impact of Corporate Volunteerism study, which analyzed responses from 450 survey participants, found that a significant correlation exists between high-performing companies and the presence and support of a formal employee volunteer program. Moreover, EVPs are more likely to be seen as an integral part of the internal culture of high-performing organizations, based on self-report data.

Highly engaged employee companies enjoy 26% higher employee productivity, lower turnover, higher talent attraction, and greater shareholder return; see findings in Watson Wyatt’s 2008/2009 WorkUSA Report.

The business performance these kinds of talent management initiatives can drive move them from nice to have to need to have. The ultimate proof is in the execution, which requires the processes and supporting technology platforms for effective talent management.