ESG – a new opportunity for engaging talent
Environmental, social and governance (ESG) commitments have become increasingly important for employers in competing for talent.
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The “Great Resignation,” a term coined to describe the increased levels of workforce attrition observed over the course of the Covid-19 pandemic, is a reflection of workers re-evaluating their priorities and questioning who they will work for and when, where and how they will work.
With this shift, organisations are recognizing that employees have a range of employment options. Boards and their management teams need to ensure they create the conditions which attract and excite the very best talent.
While many organizations nowadays have acknowledged the importance to instill diversity, equity and inclusion (DE&I) in their corporate culture, they will also need to focus on employee wellbeing and embed sustainability in the company's purpose. Having a commitment to purpose and showing progress in the ESG agenda is very important for companies to attract and retain the best people.
As companies consider how best to compete, nearly three-quarters (74%) of respondents from the EY 2022 CEO Outlook Survey cited ESG as a more important driver of value over the next few years. Only one-third (33%) said they have sustainability key performance indicators (KPIs) for creating long-term value. Organizations will need to pivot to more sustainable strategies.
