Research from PwC finds a significant gap between organisations’ focus on sustainable initiatives and employees’ overall workplace priorities.
By Maggie Mancini
The Middle East findings of PwC’s first global workforce environmental, social, and governance (ESG) preferences study reveal a significant disconnect between companies’ focus on ESG initiatives and the actual priorities of employees in the region. The study shows that while businesses are prioritising sustainability, employees are more focussed on personal benefits, such as fair pay and career advancement.
The survey finds that 92% of respondents would likely remain with their employers if total rewards were enhanced, compared to 77% who would stay in overall ESG practices were improved. This gap underscores the challenge for organisations in aligning their sustainability goals with employee priorities, potentially impacting their long-term business viability and growth.
Despite the disconnect, the report also indicates that enhancing current ESG policies and practices can significantly improve employee retention. According to the study, the proportion of employees “likely” and “very likely” to stay increases from 77% to 82%, while those “unlikely” and “very unlikely” drops from 6% to 3% when ESG policies are enhanced.
This finding is crucial as it suggests that even though competitive pay and equitable practices are essential for retaining top talent, integrating ESG elements throughout the employee lifecycle and into organisational culture can create a more conscious and engaged and motivated workforce. This, in turn, can lead to better ESG outcomes for the organisation and society at large.
The study recommends that employers adapt personalised approaches to effectively engage their workforce and make ESG a shared priority. It also introduces four ESG employee personas, providing insights into how organisations can tailor their ESG strategies to engage each persona effectively.
