Suppose you are presenting a project idea to your boss or client and can promise a return on investment of 800 percent. What do you think he or she will say – aside from perhaps, “What’s the catch?”
If your project involves using older adults as volunteers, you’re in luck. A new report shows evidence of a return on investment just that high when skilled, leadership-level volunteers are brought in to assist nonprofits and advance community goals.
Findings in The Boomer Solution: Skilled Talent to Meet Nonprofit Needs come from a three-year collaborative study of more than 60 nonprofits nationwide. The study was conducted by the National Council on Aging (NCOA) and funded by The Atlantic Philanthropies.
As part of the study, older adult volunteers were placed in leadership roles and positions within nonprofit organizations that matched their area of expertise. The nonprofits developed and tested various models of integrating these volunteers with nonprofit staff.
On average, nonprofits that effectively used volunteers experienced a return of $8,000 for every $1,000 spent.
The numbers come from a return on investment measurement tool NCOA developed to compare the expense of recruiting, training, and maintaining skilled volunteers to the amount of funds raised by their efforts. The tool uses U.S. Bureau of Labor statistics and marketplace wage data.
Making the Most of Your Volunteer Program
Does your nonprofit want in on this idea? Here are some tips you can use to make the most of an older adult volunteer program:
— Assess and commit to a culture change. The organization may need to change to integrate skilled volunteers; communicate openly with current employees and volunteers to cultivate buy-in.
— Recruit the right talent. Position the role as offering “significant and meaningful work” with impact on the community to attract the best talent.
— Manage and match talent accordingly. Be open to volunteers taking on leadership roles, and be ready to create new positions to utilize this talent.
— Be open to new solutions. Think differently and try new things. Nonprofits that allowed volunteers to work autonomously and in leadership roles often enjoyed the greatest financial and operational benefits.
— Read the report. See the full findings, plus helpful case studies and best practices.
Does your organization have a program for older adult volunteers? What has your experience been? Please post a comment and share!
Leading By Example 