In an ever-changing business environment, developing and implementing integrated ESG (Environmental, Social, and Governance) strategies is crucial for sustainable growth. Human capital plays a pivotal role in this process, not only by executing these strategies but also by driving innovation and creativity within the organization. So, how can we effectively leverage and develop this resource to create positive impacts for employees, businesses, and society?
Engaging the Workforce
A segment of the workforce is concerned that the rapid changes in their roles could negatively impact their future employment. Even those with strong skills and expertise feel uneasy in the face of these shifts.
During the panel discussion “Optimizing the Development and Practice of Integrated ESG Strategy in Business: A Human Capital Perspective”, part of Vietnam Corporate Sustainability Forum (VCSF) 2024, Ms. Nguyen Thu Trang, Head of Manpower Brand, ManpowerGroup Vietnam, emphasized, “Businesses need to clearly communicate the importance and interconnection between the business and its workforce in ESG strategies, ensuring that both existing and future employees understand this essential bond.”
According to a report by ManpowerGroup, clear communication regarding a business’s commitment to sustainability and its practical environmental actions positively influences 60% of employees in their job choice. Thus, encouraging employees to join the company’s journey toward sustainable development requires not only corporate commitment but also the ability to connect with and empower the workforce.
Practicing ESG strategies is not solely the responsibility of Board of Directors. The development and implementation of ESG initiatives must originate from every department, ensuring that all employees see ESG as a relevant and impactful strategy. Technology also plays a vital role in this plan. Businesses can establish internal systems or portals allowing all employees to transparently and easily track their progress toward ESG goals.
Upskilling and Reskilling the Workforce
The World Economic Forum (WEF) estimates that 60% of the global workforce will need reskilling and upskilling by 2027. “A skilled and innovative workforce is crucial in accelerating the adoption and commercialization of green technologies. Therefore, large-scale upskilling and reskilling during a period of growing talent shortage will drive differentiation and enhance business,” Trang remarked.
She further added that it’s essential for businesses to invest in skill development for their employees, even though this will undoubtedly require experience, costs, and time.
At ManpowerGroup, the company offers an online learning platform called MyPath® which enables all internal employees and approximately 240,000 associates (workers managed by ManpowerGroup) to access coaching, on-the-job training, and skill development to meet market demands, especially in emerging sectors.
Promoting Diversity and Equity
As shared in a report by ManpowerGroup, companies with high levels of diversity were 39% more likely to outperform their peers with lower diversity representation. Organizations that cultivate a culture of Diversity, Equity, Inclusion, and Belonging (DEIB) will be better positioned to attract and retain talent in the current green labor shortage.
Sharing ManpowerGroup’s efforts to promote DEIB initiatives, Trang said, “At ManpowerGroup, we are strongly committed to gender equality, aiming for 50% female leadership globally by 2025. We are also honored to have been recognized as one of the best workplaces for the LGBTQ+ community and the disabilities for eight consecutive years.”
The journey toward sustainable development and Net-Zero cannot happen in isolation but rather requires the participation of all stakeholders. Every individual, from employees to managers, plays a vital role in advancing green initiatives and adopting sustainable practices. Only through collective effort can we move closer to sustainability goals and create a brighter future for the next generations.
