As part of its research, Great Place To Work India identified relationship between workplace culture and ESG. The global authority on workplace culture, Great Place To Work studied various organizations as a part of research. This year, 118 companies across 10 industries in India were studied comprising employees aged up to 55 years and older.
According to the ESG report, 86% of workers aged 26 to 34 are socially responsible, compared to 87% of workers aged 25 and under, followed by 88% of workers aged 35 to 44 and 89% of workers aged 45 to 54. The age group that is most involved in contributing to society’s welfare, with 93% of employees, included those over the age of 55.
As compared to the last seven years, employee attitudes towards social responsibility increased by 8%, from 79% to 87% in the present year. Employees that feel positive of their organization contributing to society respond higher on motivation and brand endorsement. Among industries, the IT and hospitality sectors were among the top employers who practice ESG as well as excel at building great workplaces, followed by BFSI and transportation.
Ms. Yeshasvini Ramaswamy, Serial Entrepreneur & CEO, Great Place To Work India said, “ESG, which stands for Environmental, Social, and Governance, has become an increasingly important consideration for companies in recent years. Workplace culture plays a vital role in promoting ESG values within organizations. A positive workplace culture that fosters inclusivity, transparency, and ethical behavior can lead to better ESG performance.
Our research shows that top-ranked companies with For All Workplace Cultures outperform their peers on ESG scores by 8%. This is a testament to the fact that companies that prioritize their employees’ well-being and create an inclusive and equitable workplace culture are better equipped to meet the expectations of stakeholders and society at large.
While our report highlights that top-ranked companies with For All Workplace Culture differentiate on environment scores by 3x in comparison to social aspects, we must recognize that both areas are crucial for a company’s long-term success. Companies with strong cultures and values attract employees who are committed to making a positive impact and are more likely to stay with the organization for the long term.
Trust and transparency are also key components of a company’s ESG performance. By prioritizing these values, companies can build confidence with stakeholders and create a more positive reputation for themselves.
It’s heartening to note that employee sentiment on social responsibility has moved up 8% in seven years. This shows that employees are increasingly conscious of the impact their work has on society and the environment, and they want to work for companies that share these values.
In conclusion, our ESG report highlights the importance of building a strong culture to achieve long-term success. By aligning a company’s actions with the expectations of stakeholders and society at large, we can create a more sustainable and equitable world for all.”