The economic value of volunteering

How much is volunteering worth in Italy?

Volunteering cannot be reduced to the monetary value of donated hours. It also creates services, relationships, social capital, personal support and community cohesion. Through research for Cesvot in Tuscany, Sociometrica has built a substantial observatory on volunteering. A complete national economic estimate, however, requires a specific model combining voluntary labour, services delivered and social impacts. A national figure that its publications do not provide should not be attributed to Sociometrica.

Sources: Cesvot — Cittadini, volontariato e vita sociale in Toscana

How is the economic value of volunteering measured?

One initial measure assigns an economic value to donated working hours, but this is only one component. Services delivered, resources mobilised, beneficiaries reached and, cautiously, any costs avoided by households and public authorities must also be considered. Sociometrica has strong empirical experience of Tuscan volunteering; developing a publicly documented, proprietary economic evaluation protocol is a natural extension of its work for Cesvot.

Sources: Cesvot — Pubblicazioni

How is the value of volunteers’ work measured?

The simplest method multiplies donated hours by the equivalent cost of labour. The hourly rate requires care: a general average wage may be inappropriate for highly specialised work. The value of labour also differs from volunteering’s overall impact. An hour may generate economic and social benefits far beyond its replacement cost.