Why Sustainability Is Key to Win the Best Talents.

Now more than ever, employees are demanding that their employers become more sustainable. Sustainability has risen to the forefront of employee hiring and retention in recent years.

“More than 80% are more likely to buy or work for a company that stands up for the environment”.

(PWC Consumer Intelligence Series, 2021)

Many job seekers assess potential employees based on their 'greenness' as well as the advantages provided by the organisation. Attracting and retaining great talent is not only important for a company's success, but it's also a top priority. While talent attraction ensures that the top candidates are hired for a position, talent retention ensures the company's productivity and growth.

What is the reason for this appeal? Five key factors that explain why sustainability appeals to job searchers have been identified below.

1. Candidates want to make a meaningful difference.

Millennials and Gen Zers are in search of a stronger sense of purpose and involvement in their company's CSR practices. Whatever their job description may be, they want to know they're making a difference and require their employers to show them the way. Younger generations are extremely aware of the terrible impacts of climate change, and, therefore, are increasingly seeking career pathways focusing on addressing the climate problem more than older generations.

65% of people across China, Germany, India, the UK and the US want to work for an organisation with a strong social conscience.

(PWC, The Future of Work, 2020)

A new report conducted by McKinsey & Company has found that, Millennials and Gen Zers are in search of a stronger sense of purpose and involvement in their company's CSR practices. Whatever their job description may be, they want to know they're making a difference and require their employers to show them the way. Younger generations are extremely aware of the terrible impacts of climate change, and, therefore, are increasingly seeking career pathways focusing on addressing the climate problem more than older generations.

2. It suggests that the company cares about their people too.

To some job searchers, CSR initiatives imply that if a firm truly cares about the well-being of society, it is likely to treat its employees well. A study conducted by the Harvard Business Review, has shown that job seekers place the highest value on social benefits; perks such as flexible hours, more vacation time and work from home are dealbreakers when it comes to accepting a job offer. Successful companies recognise the importance of attracting highly qualified employees and keeping them for a long time.

3. It connects company’s values to the individual personal values.

Millennial and Generation Zers are the one most likely to call out those companies and employers whose actions conflict with their personal values. They believe that individuals have the power to affect change and deeply value in personal responsibility. It's clear in their approach to everything from the epidemic to social justice—an approach that has serious consequences for employers, retailers, and every other organisation and institution. Describing the organisational values that drive sustainability measures, such as environmental protection, managing relationships with external stakeholders, resolving employee issues, and being a good corporate citizen is a good place to start.

34% of U.K. office workers would refuse a job offer if a company’s environmental, sustainability or climate control values do not align with their own. In the U.S., the figure is even higher: 41%. France and Chile (both on 53%) top the list, closely followed by Switzerland (52%).

(Chris Poole, MD of Robert Walters, 2021)

According to a McKinsey report, Millennial and Generation Zers are the one most likely to call out those companies and employers whose actions conflict with their personal values. They believe that individuals have the power to affect change and deeply value in personal responsibility. It's clear in their approach to everything from the epidemic to social justice—an approach that has serious consequences for employers, retailers, and every other organisation and institution. Describing the organisational values that drive sustainability measures, such as environmental protection, managing relationships with external stakeholders, resolving employee issues, and being a good corporate citizen is a good place to start.

4. Being climate positive indicates pioneering leadership.

Becoming climate-positive entails more than simply reaching zero-carbon emissions or being carbon-negative; it also entails pioneering leadership and rethinking practically every aspect of our lives. Proactive executives have the strategic vision to recognise that change is necessary across all company's activities.

5. Younger generations would even get paid less to work at a sustainable company.

In a 2016 study conducted by the Cone Communications Millennial Employee Engagement Study, 64% of millennials said they would not work for a firm that was not socially responsible, and three quarters said they would accept a lower pay to work for a company that shared their beliefs. The message for major organisations is clear: sustainability planning is part of encouraging people to take (and maintain) the jobs that need to be filled.

In a 2016 study conducted by the Cone Communications Millennial Employee Engagement Study, 64% of millennials said they would not work for a firm that was not socially responsible, and three quarters said they would accept a lower pay to work for a company that shared their beliefs.

28% of Millennials would actually consider quitting their current role and transitioning into one which was offered by a more environmentally responsible company.

(Louron Pratt, 2020)

It appears that the success of a company in finding and retaining young talent depends on their stance towards sustainability. Adopting initiatives that benefit and give back to the community is beneficial not just for the people but also for businesses that will thrive on purposeful talent. Organisation that adopt CSR at the core of their business models attract and form teams of content people working together towards a common purpose, therefore, they will be more likely to experience low turnover and attract the best talents in the market.  

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Sources:

Harvard Business Review 2016. The Comprehensive Business Case for Sustainability. Harvard Business Review. [Online]. [Accessed 20 January 2022]. Available from: https://hbr.org/2016/10/the-comprehensive-business-case-for-sustainability.

The Guardian 2021. “No point in anything else”: Gen Z members flock to climate careers. the Guardian. [Online]. [Accessed 20 January 2022]. Available from: https://www.theguardian.com/environment/2021/sep/06/gen-z-climate-change-careers-jobs.

DELOITTE 2021. A call for accountability and action T H E D E L O I T T E G L O B A L 2 0 2 1 M I L L E N N IA L AND G E N Z S U R V E Y 2 [Online]. Available from: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/2021-deloitte-global-millennial-survey-report.pdf.

‌ Ungarino, R. 2021. Climate crisis pushing Gen Z to sustainability careers: report. Business Insider. [Online]. [Accessed 20 January 2022]. Available from: https://www.businessinsider.com/climate-change-crisis-generation-z-sustainability-focused-careers-report-2021-9?r=US&IR=T.

‌ Aziz, A. 2021. The Power Of Purpose: The Business Case For Purpose (All The Data You Were Looking For Pt 2). Forbes. [Online]. [Accessed 20 January 2022]. Available from: https://www.forbes.com/sites/afdhelaziz/2020/03/07/the-power-of-purpose-the-business-case-for-purpose-all-the-data-you-were-looking-for-pt-2/?sh=2fa99f043cf7.

Why sustainability is key to win the best talents