26 Jan UK employees place value on corporate ESG plans
A new study by KPMG has discovered that 20% of UK office employees would reject a new job if environmental, social and governance (ESG) factors were not clearly implemented. The findings suggest that nearly half of the employees want their employers to highlight their climate and social commitments.
KPMG surveyed nearly 6,000 office employees, students and apprentices across the country who have left higher education in the last six months on their general opinions towards employment. The results show that ESG factors influence decisions for nearly half of the UK workforce. The survey showed that 46% of employees want their current employer to disclose and demonstrate ambitious ESG goals. The survey found that 20% of respondents had rejected job offers based on company ESG values not meeting their expectations. This figure increased to 33% within the 18-24 age category, suggesting that this could become a more dominant trend in the near future. Furthermore, the survey discovered that over 50% of 18-24-year-olds value ESG commitments as a priority to work for an organisation, increasing to 55% for 25-34-year-olds.
Looking across all age categories, over 80% want to be able to connect their values and purpose with the business they work for. The study showed that 30% of potential employees had researched a company’s approach to ESG before making an application. Environmental impacts and living wage policies were considered the key factors by employees.
John McCalla-Leacy, the head of ESG at KPMG stated that it was clear from the recent discussions at COP27 that while there has been progressing, there is a long way to go to limit global temperature rises to 1.5C. The younger generation is the one that will experience the greatest impacts if we fail to achieve this target and so it comes as no surprise that, climate and ESG factors are a priority for many people when searching for a new employer. McCalla-Leacy explains that it’s clear that businesses must prepare for the next generation of employees and have clear and credible plans for ESG to continue attracting and retaining this new talent pool.
Last year, a survey conducted by Censuswide on behalf of Aviva discovered that the majority of UK adults would consider leaving their job to explore an opportunity considered ‘greener’. A total of 97% of respondents said they care or are concerned about climate change and this is having a strong influence on career plans. Businesses must ensure they have strong environmental sustainability credentials to ensure they can attract and retain climate-conscious employees. People are exploring opportunities that provide them with the opportunity to have a positive environmental impact.
Studies suggest that 3.2 million workers will require to enhance their skills if the UK is to reach its net zero 2050 target. This figure incorporates upskilling and retraining. The construction and transportation industries are two industries that will require significant upskilling. New opportunities to support the transition to net zero could deliver higher than average salaries, especially in compared to high-emitting industries.
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