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.

Originally published on Advisor.ca

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