Sustainability is a topic that has gained a lot of airtime in recent years. With operational efficiency, keeping up with competitors and changing regulations such as the government’s 2050 net-zero ambition being the biggest factors behind sustainable investment plans. But did you know that it can also affect your organization’s ability to find, and keep, the most talented people to boost talent recruitment. Especially since the start of the pandemic, many people have begun to reevaluate the way that they approach looking for an employer, and what they value in the businesses that they want to work for. Today, sustainability credentials are at the top of the list. Which was highlighted in a 2019 HP Workforce study, 40% said that they would look for new jobs if their employers didn’t prioritize or engage in sustainable practices. And 70% said they would stay with an employer if they had a strong sustainability plan. (HP Workforce Sustainability Survey – Global Insights report) *
Why do employees value sustainability credentials?
One recent poll found that 65% of employees factor in a business’ sustainability credentials when it comes to deciding whether or not to work for them. There are many different pieces of research that back this up with employees increasingly driving the businesses they work for to do more where sustainability is concerned. (**Article “Employees demand that we become more sustainable by Adi Gaskell Oct 2021) The pandemic has been a driving force in this and almost half of respondents to one survey said that they have become greener as a result of COVID conditions in the past couple of years. So, sustainability credentials are very much at the forefront of candidates’ minds and can be a key factor in whether or not someone chooses your business. Robust sustainability credentials have also been found to have a positive impact on an existing workforce, from inspiring innovation and growth to cementing engagement.
What’s the impact of not improving sustainability credentials?
Your organization could, potentially, miss out on the best people - and even lose some of your existing workforce to businesses that are more willing to invest in improving sustainability credentials. This is a real threat today as employees actively look for enterprises that reflect their own value systems and commitment to supporting a greener future. This is especially so if your business is keen to attract younger workers, as these are the generations that are driving the green revolution and which are more likely to make sustainability credentials a priority when it comes to choosing where to work. Poor sustainability credentials can damage an employer brand and have an impact on where your business ranks in terms of the best companies to work for. But perhaps the biggest danger for any business is that an existing workforce will start to look elsewhere for an employer that better reflects how they feel about sustainability. These are active commitments that need to be continuously demonstrated to provide how focused the business is.
How can your business improve sustainability credentials?
- Start from a place of transparency. If your organization isn’t where you want it to be right now then own that and set out the plan, going forward.
- Listen to existing employees. What do they want to change, what are they pleased with so far and where do they think the business could do better?
- Look at the benefits to your business model. Sustainability can have a very positive impact on the bottom line so embrace the change and look at how innovation and alternative ways of doing business could be a real benefit.
Employees - and candidates - value sustainability credentials today and are increasingly factoring them into the decision-making process of deciding where to work.
At Volt we work with our clients’ utilizing data, experience and focus, we look to the future enhancements and improvements that keep you ahead of the curve in talent recruitment. We can deliver this via our innovative solutions that will manage your entire contingent workforce ecosystem from Hiring Managers to Suppliers and Vendor Management Systems (VMS) Get in contact today to discuss the next steps
**(Article “Employees demand that we become more sustainable by Adi Gaskell Oct 2021) https://www.forbes.com/sites/adigaskell/2021/10/31/employees-demand-that-we-become-more-sustainable/?sh=7ecb3df13f80