[Deep dive]: The monetised social value of ‘volunteering regularly’ 

Whether it’s mentoring youth, organising community events, or assisting with disaster relief, the act of volunteering enriches lives—not only for those receiving help but also for those giving it.  

In this blog, we’ll explore the profound impact of “volunteering regularly” on personal wellbeing and its measurable social value, using insights from MeasureUp and other key studies. 

What is volunteering?  

Volunteering is one of the most impactful ways to create positive change in the world. It fosters compassion, builds stronger communities, and provides critical support for those in need. But beyond its outward benefits, volunteering holds immense personal value for those who dedicate their time and energy to helping others. 

The National Council for Voluntary Organisations (NCVO) defines volunteering as:  

“When someone spends unpaid time doing something to benefit others. Volunteering can be formal and organised by organisations or informal within communities. It should always be a free choice made by the person giving up their time.” 

How volunteering impacts wellbeing 

Volunteering offers a host of personal and professional benefits, including: 

• Exploring career options: Volunteering lets you experience what a particular role involves seeing if it’s the right fit for you. 

• Skill development: Learn new skills or build on ones you already have. 

• Networking opportunities: Meet new people and expand your circle of professional and social contacts. 

• Boosting confidence: Engaging in meaningful work fosters a sense of achievement and self-worth. 

• Better health: Enjoy improved physical and mental wellbeing. 

• Community contribution: Give back to your community and make a difference in the lives of others. 

The monetised social value of volunteering 

Volunteering doesn’t just create intangible benefits; it also has measurable economic and wellbeing impacts. According to NCVO, individuals who volunteer contribute an average of 8 hours per month, translating to an annual economic value of £1,800 per person (2023 prices). 

Studies also reveal the significant wellbeing benefits associated with regular volunteering: 

• Faith, Hoops, and Charity Report: The wellbeing value of weekly volunteering ranges from £400 to £2,500 per person per year. 

• MeasureUp WWD2 Volunteering Regularly Value: The median wellbeing value of volunteering two hours a week over a year is approximately £1,600 per person (2023 prices). This is based on State of Life research in the Faith, Hoops, and Charity Report. 
  
• When combining the economic and social value, the total value of regular volunteering reaches approximately £3,400 per person per year in 2023 prices. 

• Interestingly, the report, “The Value of Giving Back – The Social Return of Charity Shops”, states that the emotional value of “feeling that I am ‘giving back’” has been valued at an incredible £11,466 per person, per year based on stakeholder surveys.  

Building Confidence and Community Through Volunteering: A Personal and Social Impact Journey 

As an economist working at Impact Reporting, I would like to share my volunteering experience. 

I have been practising yoga for almost eight years, and last year, I completed a Yoga Teacher Training Course to deepen my knowledge and skills. To boost my confidence in teaching yoga and contribute to my community, I decided to offer yoga classes on a voluntary basis. 

To start, I reached out to my friends living in my city, Lancaster. Five of them expressed interest in attending my yoga classes. Next, I searched for a suitable venue to accommodate a group of five or more participants. I discovered that I could book a room at The Gregson Community & Arts Centre in Lancaster. Finally, I coordinated with my friends to determine a convenient time, and we agreed on Sundays from 10:30 to 11:30 AM.   

We have been holding the classes for six weeks now. I have received valuable feedback from my friends, which has greatly enhanced my teaching skills. Additionally, I prepared six unique yoga sequences that I can use for future, larger classes. My goal is to expand these sessions to include individuals outside of my immediate social circle.   

The monetised social and economic value of my volunteering:   

Beyond the personal satisfaction and growth, I have gained from leading these yoga sessions, I am also generating a measurable social value.   

Personal Impact: If I continue teaching these classes weekly for a year, the estimated economic value of my volunteering would be £900, while the personal wellbeing value as a volunteer would be £800, totalling £1,700.   

Community Impact: The wellbeing value of physical activity for each friend attending the class over a year is estimated at £3,400. Every week, a minimum three of five people can attend the classes. So, for three participants, this amounts to 3 × £3,400 = £10,200.   

The economic cost of these yoga classes includes the room rent which is £10 weekly paid by the participants. Over a year, venue rental works out to £520 in total. 

So to summarise:  

• Personal Impact: 

• Annual economic value: £900 

• Wellbeing value as a volunteer: £800 

• Total personal value: £1,700 
   

• Community Impact: 

• Wellbeing value per participant annually: £3,400 

• Three regular participants: 3 × £3,400 = £10,200 

• Costs: 

• Venue rental: £520 per year (shared by participants). 

Total monetised value of volunteering and physical activity over a year is £11,380. 

Read more about the “volunteering regularly” value here.