Volunteering benefits the economy

Almost all Canadians (95%) think volunteering benefits the economy, according to a BMO survey.

Fifty-three percent of those who think volunteerism is impactful believe it improves social cohesion and socio-economic outcomes in communities, and 51% believe volunteering can help teach skills that can be used in future work.

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In 2010, Canada contributed about two billion hours of volunteer time, which is equivalent to one million full-time jobs, or 5% of total labour compensation.

In the past 12 months, 61% of surveyed Canadians claim to have volunteered; millennials lead with 69% volunteering.

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The survey finds that corporate culture can have an impact on employee volunteerism. Twenty-six percent of respondents say they would be more likely to volunteer if their organization encouraged it.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.