We all know the world has changed. Both in ways we know but also in ways we’re not yet aware of.
One area that seems certain to have passed its watershed moment is corporate governance. What have previously been Environment Compliance, Sustainability and CSR based centred conversations, have taken on a much wider narrative. Driven by multiple initiatives - and consumer pressure - the business landscape (and indeed the vernacular) is even more dynamic, complex and confusing around what is perhaps most succinctly described as ‘Responsible Business’.
What is Responsible Business?
If your business benefits society and addresses the negative impacts it might have on society, people and the planet, then it’s a responsible business. Leaders of these organisations make more responsible decisions and ensure that considerations of social and environmental impact are balanced with considerations around financial reward.
Who’s Responsible for Business?
Chief amongst the drivers, the UN Principles for Responsible Investment (PRI) require the financial sector to consider Environmental, Social and Corporate Governance (ESG) issues when making investment decisions. They must be active owners of, and measure and report, their ESG metrics within the organisations in which they are invested.
Established in 2006 the UN PRI now has over 4,000 signatories across the Financial sector and this uptake has increased awareness for the need for ESG management across business sectors wherever there is engagement with the financial sector. It’s also given rise to a huge increase in the creation of ESG, Responsible Business and Sustainability orientated roles.
The Financial Stability Board’s Task Force on Climate related Financial disclosure (TCFD) further add weight to corporate reporting, measurement and governance around financial impacts with a specific focus on climate related risks and opportunity.
Responsible People in Business?
Alongside greater consumer demand for responsible business – we all know that consumers are crying out for ethical brands - and government plans to “build back greener”, there has never been a more dynamic period for careers in the sector.
A new generation of employee wants to work with purpose for a business that is purposeful. Strong brands attract great people (as well as clients and investors). Appealing to more socially conscious candidates will ensure you not only attract but retain great talent. Equally, this could improve diversity across your organisation and ultimately improve profitability. However, this could cause some problems in terms of skills gaps in recruitment and a more competitive playing field in terms of candidate attraction.
In fact, demand for experienced professionals currently outstrips supply across the board at an unprecedented level. Based on current activity at Allen & York, and our near 30 year engagement in the Green Economy (from Environmental Management through Sustainability, CSR to ESG and Responsible Business), enquiries and job orders have increased significantly since the emergence from the Covid enforced hiatus.
From financial sector investment organisations, business, consultancies across technical, communications and marketing to specialist bodies in product stewardship and life cycle assessment, we’re seeing the need for experienced talent at an unprecedented high.
Responsible Recruiting for Business
This surge in activity bodes well for the future of Responsible Business but overcoming the recruiting challenge in a post Brexit world will take creative thinking, market intel and potentially sound partnerships with experienced recruiters in the field.
With millennials (those born between c1980 - 2000) forecast make up 75 percent of the global workforce, there is inevitably going to be a rise in the war for talent. If your talent acquisition / recruitment team has a current need, or perhaps you’re talent mapping for the future, Allen & York can help.
Whether you need insight into the market, an appraisal of current skillsets or you have a live vacancy to fill, we provide Sustainable Recruitment Solutions. We would be happy to discuss how to approach recruitment in the sector and provide you with candidates to meet your brief, feel free to get in touch to find out more.
Lester Lockyer - Managing Director