GREAT PLACE TO WORK'S ESG REPORT REVEALS COMMITMENT TO SOCIAL SUSTAINABILITY AMID CHALLENGES AND ASPIRATIONS FOR INCLUSIVE GROWTH
New Delhi (11/01/2024): Great Place To Work® India, renowned workplace assessment and recognition organization has announced the findings of Commitment towards Social Sustainability™ report.
The report draws direct impact of workplace’s engagement in social initiatives to societal betterment and positive mental and emotional health wellbeing of employees.
The report categorizes organizations that fall within the top quartile of Social Sustainability Index as ‘Socially Conscious Workplaces’ and organizations at the bottom quartile of Social Sustainability Index as ‘Other Workplaces’. Of the 13 lakh employees surveyed, Information Technology (IT) industry stood at the forefront of social consciousness at workplace with 79% employees responding positively to aspects of social sustainability followed by Manufacturing & Production (77%) and Financial Services & Insurance (73%).
However, despite industry's commendable response to aspects of social sustainability, inclusive growth and equitable development remain the area that demand more attention, ranking lowest among surveyed factors. The findings also bring out increased preference among younger workforce for Socially Conscious Workplaces with 91% of GenZ employees reporting contentment with facilities that contribute to a good working environment at their organization, which is 24% more as compared to other workplaces.
This is interesting as it is seen that Socially Conscious Workplaces cultivate an emotionally supportive and transparent work setting by promoting employee well-being. It is also observed that employees respond positively to aspects like approachable leadership (90%), responsive management (89%), recognition of excellence (87%), transparent communication (86%) and fairness in promotions (79%) that promote a psychologically and emotionally healthy environment at the workplace.
The report reiterates the importance of promoting inclusive growth and equitable development, thereby fostering an environment that not only supports excellence but also creates ample career and growth opportunities for employees. The report brings to light a slight discrepancy in women's satisfaction rates compared to men's.
Women's satisfaction rates lag behind by 1% to 5% across levels, indicating the need for more targeted strategies to ensure equitable career advancement opportunities. Given the increased preference of employees for Socially Conscious Workplaces, focusing on ensuring employees feel fair promotions, transparency in communication as well as avoidance of workplace politics will remain future focus areas.
Great Place To Work identifies key aspects crucial for a Socially Conscious Workplace, emphasizing role clarity, approachable leadership, responsive management, fair appeals, recognition for excellence, leadership development, key talent attraction, transparent communication, and fairness in promotions.
