In the current economy, companies are saving as much money as possible; they're saving costs on sales and marketing - they're always the first to go when times get rough - but also in production and manufacturing. No one can afford to spend needed, diminishing funds on frivolous or unnecessary things.
In efforts to survive, companies are even trying to find creative saving measures, like reprocessing returned equipment to be resold; although there might be WORSE ways to save money, I have this crazy idea that will make things better: giving begets success.
Most large companies have money that goes into non-profit organizations, but I'm talking about something more than that; I'm talking about encouraging all employees to take time to do service in their communities. Allowing for time off to help out with causes, even if they're for company-sanctioned causes only, will give employees a sense of accomplishment that they will NEVER get from work; and when employees are happy, they work harder!
So remember, if you want employees to work harder to get the successful results needed, let them take time off to do service. It will make them feel better and work harder; can anyone think of a downside? At most, it might be five hours a month, which isn't that much, especially when you consider all the time they'd be wasting instead.