Volunteering - The Rs 7,500 crore opportunity India Inc is sitting on

economictimes.indiatimes.com:

volunteering trends, revealing substantial untapped potential for employee involvement in volunteering initiatives. The report emphasizes the benefits that such initiatives can bring to both employees and companies. According to the report, corporate India is sitting on a socio-economic opportunity worth Rs 7,500 crore through volunteering initiatives. The potential goes beyond mere Corporate Social Responsibility (CSR) funding, as both employees and companies can actively engage in developmental causes, imparting a substantial positive influence on society. With about 15 million white collar employees in India, a potential of 150 million+ hours can be volunteered annually by corporate India towards social & economic development. This would represent a significant socio-economic contribution of over Rs 7,500 crore, which can be unlocked by promoting volunteering in Indian corporates (30% of the overall CSR spending in India), potentially generating a 5x social return on investment for companies.

An increasing concern in the workplace is the rise in AI and automation, and the uncertainty around how it will impact the relevance of skills and jobs. McKinsey predicts that the demand for soft skills and emotional skills in the workplace will increase by 24% by 20308. Deloitte has predicted that two-thirds of all jobs will require soft- skills intensive occupations by 2039. With 6 in 10 workers requiring training over the next 5 years, it is clear that learning & development programs in the workplace will need to evolve to build an employee’s soft skills in addition to their technical skills. The report by the India Welfare Trust underscores how volunteering can become an effective learning & development program