Corporate volunteering literature often focuses on the strategic side, the C of corporate volunteering (CV). We state that psychological volunteering research may complement CV research regarding its understanding of the V of CV. In an attempt to substantiate our claim 'no corporate volunteering without volunteers', this article raises three concerns. First, we look at the concepts of both corporate and personal volunteering (PV). We argue that CV expands the definition of PV in some points and conclude that the extent to which employees are involved in designing the CV programme is crucial for the voluntariness of CV. Second, we refer to the functional approach of Clary and Snyder (1999) and agree with Peterson (2004) that it benefits CV research, as it produces awareness for its various actors. Moreover, we discuss some empirical findings that have been reported regarding PV and CV motives. Third, and this is our core point, we deduce some implications for CV programmes based on the functional approach in assigning its six functions to a win-win-matrix, showing the benefit for both employee and company.