COP26 Key lessons for businesses
15 Feb 2022
The COP26 conference at the end of last year holds some important lessons for business.
Yes, many of them are wrapped up in how we must all change our habits, move to sustainable and renewable energy models and start to prioritise the environment in every aspect of our business life.
But there were also wider lessons for those seeking to retain and recruit the best staff in the middle of an ongoing recruitment crisis.
And those wider lessons also extend to the way our brands are perceived in an increasingly politically-aware world.
What is now apparent is that the new generation of workers are far more concerned with a company’s social, ethical and environmental responsibility than ever their predecessors were.
Long gone are the days when making a profit was all that mattered in business. Today, that profit has to be made in the right way – otherwise you simply won’t recruit the staff.
New data from Bupa shows that businesses demonstrating strong environmental and social commitments will be best placed to recruit the pick of the talent from Generation Z workers – those born after 1995.
The Bupa research suggests 68 per cent of Gen Zs are worried about environmental issues, whilst 63 per cent think it is up to them to do something about climate change.
And this concern is carried over into the jobs market, where 64 per cent say it’s important that employers do their bit on environmental issues.
Indeed, 43 per cent say that an employer’s lack of action over the climate would affect their mental health and wellbeing.
There are other compelling statistics which show just how environmental, social and ethical issues are now a key driver in the labour market among younger recruits.
A total of 31 per cent of Gen Zs would turn down roles in companies which did not have a good track record with regards to the environment whilst 54 per cent would move to a company on less pay if it reflected their own ethics. They would take a pay cut to work for a business that reflects their ethics, on average sacrificing more than a quarter (27%) of their salary.
And it doesn’t end there.
Not only is having a strong social grounding good for recruitment, it’s also likely to be good for productivity.
The survey found that around half of people of all ages said they would be more engaged with their organisation overall and more productive if they knew they were working for an ethical, environmentally-responsible firm.
So if you think COP26 had little to do with you, we have some clear advice.
Think again, before it’s too late.
And remember, just click on the button to access a free consultation if we can help in any way with any of your HR issues.
