Corporate volunteering within social responsibility strategies of IBEX 35 companies

Abstract

Corporate volunteering is on the rise in companies as they strive to improve their reputation and the level of commitment of employees through policies of social responsibility. In turn, employees simultaneously contribute their time and skills to improving local communities. This research analyzes the implementation of corporate volunteering programs in IBEX 35 companies based on content analysis of their web pages and annual reports. The percentage of companies that do not have a corporate volunteering program is 25.71%, despite the fact that the Technology and Telecommunications sector have a 100% implementation rate of such programs. Out of all IBEX 35 companies, 45.71% perform volunteering activities related to their business activity, and such actions are mainly social, educational and environmental. Moreover, from the companies on the IBEX 35, 54.29% specifically include Sustainable Development Goals in their corporate volunteering actions. There are few incentives for employees, and 49.57% of companies expressly state that corporate volunteering activities cannot be carried out during working hours. Communication by companies of these volunteer programs has become more specific. As such, 28.57% of companies have a corporate network and their own website to promote the management and visibility of these programs, even if there is only one company, Telefónica, which offers social networks specifically committed to its corporate volunteering program, is the only company with a commission for selecting volunteers.