Corporate Social Responsibility
ICV programs align with firms’ Corporate Social Responsibility (CSR) goals. Sharing the skills of business professionals enable NGOs to build their capacity and better serve their constituent communities. Research has found that ICV experiences, when designed well, actively foster social responsibility. Participants engage in a greater level of volunteerism on their own time after the ICV experience.
Strategic Growth and Innovation
ICV programs take a multiple stakeholder perspective, maximizing the shared value among employees, their companies sponsoring the ICV program, and the communities in which the ICV participants serve. These ICV programs have been found to foster innovation and knowledge transfer, especially in the area of emerging markets. Participations in ICV programs also build a positive organizational reputation, which in turn builds positive brand recognition, so critical for increasing market share.
Human Resource Development, Engagement, and Retention
ICV programs have a tremendous benefit for talent. They enhance organizational attractiveness, making it easier to recruit critical talent globally. Well-designed ICV programs increase employee engagement long after the service has been completed. These IVC programs, when designed well, also build cross-cultural competencies and cultural agility among participants – faster and more cost effectively than international assignments/relocation and university-based programs alone.