There’s a great teaching I received in my education: the more you give of your talents, the greater your sense of freedom.
Advisers are known for their community spirit and putting their talents to work for others, but why is volunteering so important for so many people working in financial services?
In 2020/21, 30 per cent of respondents to the government's official Community Life Survey reported taking part in formal volunteering at least once in the last year.
That is approximately 14mn people in England - lower than in 2014, when the figure stood at 45 per cent - approximately 21mn people.
A further 33 per cent of respondents (approximately 15mn people in England) had taken part in informal volunteering at least once a month - the highest number since the government started recording voluntary work.
Giving talents and sharing strengths voluntarily with others in need can be key to experiencing inner wellbeing and contributing to the collective health of society.
People do it from a place of goodness and in return it encourages goodness - a truly virtuous circle.
Volunteering activities give staff the opportunity to show off other skills and shine in a new way, sometimes trying something completely new.
Moreover, with the increase of hybrid working, and four-day weeks being explored, there is a chance that some/more people might be more able to contribute to society in new ways.
It’s therefore saddening that as societal pressures get harder for many people, especially as interest rates hit 5.25 per cent, and inflation remains stubbornly high at 7.9 per cent, often volunteering gets sidelined.
Understandably, in times of pressure, an intensified focus on work and earnings means goodwill initiatives like corporate volunteering are under threat of becoming squeezed out of the frame.
This can have a negative impact on wellbeing of staff, and on society, as people’s more open perspective and sense of freedom gets lessened.
However, there are some forward-thinking organisations and individuals from the financial sector who are making small sacrifices to experience the mutual wellbeing benefits of donating time and resources to help charities and their communities.
FTAdviser speaks to four experts about why volunteering has been a win-win.
1) Innovation and creativity
Nadia Al Yafai works as a social impact and just transition consultant and has spent more than 12 years at senior levels in financial services companies leading social impact and CSR programmes, most recently at a large insurer.
She sees many benefits for companies who allow staff to donate time to volunteering.
Yafai says: “It is a great way for staff to engage and support charities, to give back, take time out to be inspired, think differently, be challenged, and get remotivated.
"Team opportunities have the added benefit of bringing the team together to make a difference. There’s a real sense of achievement and unity at the end.
