Value of Volunteering Calculator
For help with using this calculator, please check out the Factsheets on this page, or contact us.
In , the replacement cost of your volunteering contribution would be $ each year.
This calculator is powered by the Institute of Project Management
What is 'replacement cost'?
The replacement cost of an individual's time is calculated with reference to the Australian Bureau of Statistics' data for on the average part-time wage earnings of each age cohort, indexed for employer on-costs. This is added to the cost of relevant resources acquired by the individual in pursuit of their volunteering.
In other words, it is the amount of money a business would have to spend to replace the overall contribution of the individual volunteer.
What is 'value'?
The value a volunteer-involving organisation delivers to the community is a different measure to replacement cost. It aggregates the commercial, community and individual benefits created by each act of volunteering, and includes things like:
- The employment and tax revenue created by the direct expenditure of individuals and organisations on volunteering
- The costs avoided by civic institutions such as government departments of health, education, emergency services and the like
- The productivity surplus enjoyed by employers as a result of their employees' volunteering
- The wellbeing benefits returned to individuals and the community
You can use the replacement cost and value calculators interchangeably for individuals and organisations; however, the value calculator is not sensitive to age differences.
Where can I learn more?
The methodology used to motivate these calculations is fully disclosed in , published by the Institute of Project Management.
For more information on the findings and how you might use this information to promote the value of your activity in , please contact .