CBI Director-General speech highlights the importance of ESG strategies
This is an important speech from Tony Danker at the CBI which highlights how the labour market has changed forever and also why ESG is so important.
Mr Danker refers to a lot of challenges but offers solutions such as a ‘childcare revolution’, the need for flexible working to become a mainstream practice, and how automation should be ‘our friend’.
It is also particularly interesting to hear his comments about younger generations increasingly choosing where to work based on the firm’s behaviour to them in the world.
We support the CBI’s viewpoint and we’re very keen to assist organisations on their journeys to being recognised as more responsible businesses. This represents a significant challenge for a lot of organisations and incorporates a wide range of issues relating to environmental sustainability, social responsibilities, and robust governance.
Getting to grips with ESG is vital and as the CBI points out, there is a lot to do. Our own survey of 200 businesses showed that 42% had already implemented or revised their ESG strategy while 35% were looking at options to form their strategy and 22% are just beginning to start their ESG journey.
The CBI’s director-general also highlights that without an active diversity and inclusion strategy, businesses will lose the talent war.
We strongly support this and recognise how organisations have so much to benefit from a diverse workforce and a safe environment.
How we can help
Irwin Mitchell recently launched a new Environment, Social and Governance (ESG) Advisory Service for corporate and institutional clients leading with new products including a cyber security audit, a diversity and inclusion assessment, and training. Further information is available here
I think there are three new principles for winning in the talent market.
First − Your Business must be progressive. Without strong societal values, a central sense of purpose, a commitment to better employee lives, and active diversity and inclusion strategies, you will lose the talent war.
Progressive is not a political statement with a capital P. This isn’t about politics. It’s a reality check on the modern world, where people – especially young people – vote for employers – and across the political divide they share common expectations for a firm’s behaviour towards them and to the world around us.
Tony Danker, CBI Director-General”
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