ESG Companies: New pathways to impact and productivity
In today’s marketplace, the currency for acquiring talent is changing as employees—especially Millennials and Generation Z—seek more than a paycheck from their work. Many of these workers also recognize they are likelier to be affected in their lifetimes by social and environmental issues such as climate change.
From the entry level to senior management, we want to feel that we matter and our work makes a difference. We give our best when that is true. Yet, many organizations are missing opportunities to increase engagement, retention, and productivity. For example, Gallup finds that at the most, only 34 percent of employees are engaged at work, costing the U.S. economy around $500 billion in lost productivity each year.
In this context, keeping purpose present in corporate strategy isn’t just an ideal, it’s a business opportunity. One that can pay dividends for organizations that provide ways for employees to bring their passion for impact to the workplace—including dramatic improvements in retention. But the ultimate prize is even larger: the business opportunity available in identifying solving important new problems.
How does FrameworkESG make a difference?
Our work helps functional area leaders within your company convene to identify the most important ESG issues to focus on and address them as contributors to both overall enterprise resilience as well as respective functions’ needs and objectives. Understanding emerging ESG issues and operationalizing related plans also stimulates leaders’ professional development and the organization’s learning capabilities.
You are, of course, the ultimate expert in your business and role. Our job is to bring intelligence and tools that can help you do your job better—in particular, when making strategic decisions and building initiatives that can improve effectiveness and galvanize employees to bring their best work to your core mission. Some examples of how we’ve helped other clients in these ways:
- Helping the C-suite of a fast-growing life sciences company—which has gone from IPO to segment leader within four years—identify via direct engagement employees’ appetite for ways to leverage the company’s core scientific capabilities for greater social impact. In building initiatives and partnerships to leverage that energy, we are also helping to create deeper bonds with the large segment of employees placed at client sites who have needed a stronger identification with their home organization.
- Convening senior leaders of a leading transportation company with revenues of nearly $50 billion to establish a formal oversight body for ESG issues and creating for them a multi-year roadmap guiding the heads of functional areas in contributing to improvements in these performance areas.
- Aligning the ESG initiatives of the US division of one of the world’s largest pharmaceutical companies with the organization’s global strategic priorities to ensure both regional effectiveness and support for progress on enterprise objectives.