Friday, October 8, 2010

Older volunteers provide 800% return on investment

Older adult volunteers can provide an 800% return on investment to nonprofits, says a new report released today by NCOA. The report, The Boomer Solution: Skilled Talent to Meet Nonprofit Needs, is the result of a three-year collaborative study of more than 60 nonprofits nationwide. 

The Boomer Solution outlines how nonprofits can best capitalize on the growing influx of boomer talent into the volunteer workforce to advance their missions in the community.

“With the number of older volunteers on the rise, there has never been a better time for nonprofits to leverage the power of older adults to help meet important social needs in our communities,” says Thomas Endres, vice president of Civic Engagement at NCOA. “This timely report provides new ideas and insights, brings best practices to the table, and demonstrates the value of this nonprofit capacity-building model.”

As part of the study, funded by The Atlantic Philanthropies, nonprofits developed and tested various models of integrating skilled older adult volunteers with nonprofit staff. Volunteers were placed in leadership roles and positions within nonprofit organizations that matched their area of expertise.

Using U.S. Bureau of Labor Statistics and marketplace wage data, NCOA developed a return on investment measurement tool to compare the expense of recruiting, training, and maintaining skilled volunteers to the value of volunteers’ service.

Read the full report.

http://lawprofessors.typepad.com/elder_law/2010/10/older-volunteers-provide-800-return-on-investment.html

Retirement, Statistics | Permalink

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