Monetary Value of Volunteer Time

Should volunteer professionals expect to be paid for publishing and presenting? Or is there value in blogging and writing about volunteer management in order to share knowledge with peers in the field?

In this Voices, co-editor Allyson Drinnon explores these questions. She taps into the expertise of e-Volunteerism’s own Rob Jackson, a steadfast proponent of writing to expand the profession who shares they four key reasons he writes and why other volunteer professionals should, too. Drinnon also includes her own thoughts on the subject, with additional comments and insights from volunteer management expert Meridian Swift. 

This past August 2018, Starbucks, the coffee giant, and the non-profit organization Points of Light launched a six-month pilot program that allows Starbucks employees to get their full pay check while volunteering at selected non-profits for half the work week. Before long, the Internet and Volunteer Program Manager list serves were buzzing about a topic that routinely rears its head in volunteer management circles. Namely, do Corporate Social Responsibility (CSR) programs create positive, beneficial experiences for volunteers, or is paying someone to volunteer simply absurd?

In this Voices, author Allyson Drinnon hears from people on both sides of this debate, ranging from a volunteer program manager to a corporate representative familiar with the concept. That Starbucks’ Salted Caramel Mocha Frappucinno^® may never taste the same again.

This quarter’s Research to Practice reviews an article that presents a way to measure the social returns on investment in volunteer recruiting, training, and management. Called Social Return on Investment, or SROI, it is a type of cost-benefit analysis that compares the present value of social outcomes created by the organization to the value of monetary and in-kind resources (including volunteer contributions) required to generate those outcomes.

As reviewer Laurie Mook explains, funders and government agencies have expressed great interest in the idea of calculating SROIs for organizations. Mook looks specifically at a case study by Italian researchers who apply this process to the volunteer program of a summer camp that offers recreational therapy for children with serious illnesses. The researchers end up with a SROI calculated as a ratio between the total present value of impacts on volunteers as well as on services, and the total costs of inputs required to recruit, train, and manage volunteers. Mook also examines the methodology as a potential tool to focus attention on the socio-economic impact created by organizations, for volunteers themselves, and for society-at-large. 

Andrew G. Haldane, Chief Economist, Bank of England, recently stated that “whether seen from an economic or social perspective, volunteering is big business, with annual turnover well into three-figure billions.” And in his recent lecture to the Society of Business Economists in London, Haldane also pointed out that volunteering “is a well-hidden jewel, whose social worth is rarely the subject of a public valuation.”

In this special feature, e-Volunteerism presents an edited excerpt of Haldane’s lecture, which provides what Haldane describes as “a valuation, however imperfect” to help understand the social value of volunteering and exactly why this economist thinks it is so important. “If the value of volunteering remains largely out of sight, it is likely also to remain out of mind,” Haldane predicted. “The potential economic and societal benefits from volunteering then risk remaining un-tapped. Yet with a nudge, that volunteer army could swell further.”

Because Haldane is an internationally recognized economist, his presentation carries considerable influence and importance for the volunteer community. Haldane’s lecture includes a description of the fascinating volunteer service called Pro Bono Economics that he helped establish in the UK, which will be of great interest to all e-Volunteerism readers.