PwC’s first Global Workforce ESG Preferences study for 2024 reveals a significant disconnect in the Middle East. Companies are focusing on Environmental, Social, and Governance (ESG) initiatives, while employees have different priorities. The report emphasises that understanding employee sentiments towards ESG is crucial.
The survey findings indicate that 92 per cent of respondents would likely remain with their employers if total rewards were enhanced, compared to 77 per cent who would stay if overall ESG practices improved. This gap underscores the challenge for organisations in aligning their sustainability goals with employee priorities, potentially impacting their long-term business viability and growth.
Despite the disconnect, the report also shows that enhancing current ESG policies and practices can significantly improve employee retention. The proportion of employees “likely” and “very likely” to stay increases to 82 per cent from 77 per cent, while those “unlikely” and “very unlikely” drops to three per cent from six when ESG policies are enhanced.
This finding suggests that while competitive pay and equitable practices are essential for retaining top talent, integrating ESG elements throughout the employee lifecycle and organisational culture can create a more engaged and motivated workforce. This, in turn, can lead to better ESG outcomes for the organisation and society at large.
Hence, designing personalised approaches can ensure that employees feel included and play an active role in achieving sustainability goals. It goes beyond ticking boxes and aims to create a work environment where employees feel valued and connected to the organisation’s mission.
Furthermore, the study recommends that employers adopt personalised approaches to effectively engage their workforce and make ESG a shared priority. It introduces four ESG employee personas, providing insights into how organisations can tailor their ESG strategies to engage each persona effectively. This approach can help bridge the gap between company initiatives and employee expectations, fostering a more conscious, engaged and motivated workforce.
