Volunteering significantly boosts productivity in the UK economy, delivering gains valued at £4.6 billion each year.
- The report by Pro Bono Economics (PBE) highlights the financial impact of volunteering, equating to £4,551 per volunteer in managerial roles.
- There is a growing interest in volunteering among jobseekers, with many seeing it as a pathway to employment.
- Research reveals volunteering enhances confidence and skills, crucial for re-entering the workforce.
- Proposals suggest increasing volunteering opportunities, especially for the unemployed, to maximize economic benefits.
Volunteering has been identified as a substantial contributor to the UK economy, with productivity gains estimated at £4.6 billion annually. This staggering figure is highlighted in a report by Pro Bono Economics (PBE), commissioned by the Royal Voluntary Service. Focusing on those in professional and managerial roles, the report estimates an average gain of £4,551 per volunteer, underscoring the significant economic impact of voluntary work.
The report, titled ‘A pro bono bonus: The impact of volunteering on wages and productivity,’ suggests these productivity gains might be underestimated, as they do not account for the input from those in other job roles or the unemployed. Volunteering is seen as a potential gateway back into employment, offering jobseekers a path to develop essential skills and boost self-confidence.
Censuswide research indicates considerable interest in volunteering among those not currently employed. Despite challenges like ill-health, loss of confidence, and lack of experience, many unemployed individuals express a desire to work. Volunteering is noted for its ability to enhance skills and confidence, as reported by 38% and 32% respectively of unemployed respondents who have volunteered.
Moreover, 68% of the unemployed show interest in supported volunteering opportunities offering training and mentoring, with this interest rising to 74% among those aged 18-24. This demographic shift highlights an increasing recognition of volunteering as a valuable tool for skill development and employment preparation.
Findings from the study reveal that volunteering’s productivity benefits could be further realized if the 185,000 unemployed individuals from professional backgrounds volunteered at similar rates as their employed counterparts, potentially adding £67.5 million to the economy.
In response, PBE and the Royal Voluntary Service propose several policy recommendations to bolster volunteering. These encompass government investment in volunteering, expansion of employee volunteering opportunities across various sectors, and the development of flexible opportunities to accommodate diverse work schedules.
There is a call for the government to integrate volunteering opportunities into the ‘Back to Work Plan,’ aiding jobseekers in skill development and employment efforts. Organizations are also encouraged to formally recognize volunteers’ achievements, providing tangible evidence of skill acquisition and commitment, which could be critical in job applications.
Dr. Jansev Jemal emphasizes the power of unpaid labor, noting that nearly 25 million people volunteered in the previous year, making substantial yet often overlooked contributions to the economy. Catherine Johnstone CBE highlights the role of volunteers in supporting societal and economic functions, advocating for enhanced access and recognition for volunteers to enhance employability and career prospects.
Success stories, like that of Geoffrey Albiston, who transitioned from volunteering in retail to paid employment, exemplify the transformative potential of volunteering in boosting confidence, skills, and ultimately, employability.
Volunteering plays an essential role in the UK economy, promoting productivity and offering pathways to employment.
