According to the 2023 study, 51% A higher percentage of U.S. workers say they would consider quitting their job if a company’s environmental efforts don’t align with their own, and 35% say they’ve already quit. Attrition rates rose to 44% for Gen Z and Millennial workers, who said they would be willing to take a pay cut to work for a company that shares their values.
The numbers come from the 2023 Net Positive Employee Barometer, a survey of more than 4,000 employees in the US and UK led by former Unilever CEO Paul Polman. The survey found that 73% of American workers are concerned about climate change, and 61% want their companies to take a stronger stance on the environment. Only 34% thought their company’s current efforts were sufficient.
When considering a new job, 77% of Gen Z and Millennials say a company’s environmental efforts are an important consideration. For respondents from Generation X and above, this number was lower but still significant, with 69% agreeing.
A KPMG study in early 2023 found that one in three 18-24 year olds in the UK would reject a job offer based on a company’s ESG record.
This growing trend among workers around the world is called “climate retirement,” and it joins a broader trend of “conscious resignation,” in which employees leave companies that are not aligned with larger societal values. It is happening as part of.
“Employees are asking themselves, ‘Do I want to work for an organization that has no accountability, no purpose, no meaning?'” Tom Lakin told CNBC Make It. Lakin, a global practice director at recruitment firm Robert Walters Group and an expert on the future of work and ESG, says the term gained traction in early 2023.
As the U.S. approaches its hottest year on record in 2024, experts predict that concerns about climate change will only increase, and public pressure for companies to do more will increase. They suggest what managers should do to respond to these calls and what disgruntled employees should do to make changes.
According to a 2023 McKinsey report, only 19% of companies across seven industries are committed to environmental, social, and governance Concerns about retaining, attracting and motivating employees. The study also found that globally, only European organizations tend to prioritize environmental topics over the other two elements of ESG. North American organizations did not make this a top priority.
“Progressive, pioneering companies are already reaping the benefits, and recruiters and HR professionals need to be on board with this,” Lakin says. “For example, Unilever uses its strong environmental sustainability credentials to attract talent.” Unilever aims to achieve zero carbon emissions by 2030 and is phasing out fossil fuels such as coal. He has been vocal in his support for the law to be repealed.
“By 2025, 75% of the workforce will be millennials. [companies] If we want to continue to attract and retain this growing talent pool, we need to have a credible plan to address ESG,” said John McCullough-Leasey, head of ESG at KPMG, in the report. Ta.
Although the U.S. appears to be lagging behind other markets in leveraging environmental practices as a hiring advantage, Lakin remains optimistic about companies’ ESG efforts.
“We are seeing an increasing number of organizations link executive compensation to ESG outcomes,” he says, particularly within S&P 500 companies, where that number has increased to 73% in 2021. When you look at it. It means there is pressure from above, and that will be an important indicator of change. ”
Employees also have the power to make important changes, said Jennifer Allyn, campaign leader for Climate Voices, a nonprofit organization that urges companies to take action. and enable industry-wide change.
“Many companies only focus on their internal carbon footprint and their own operations. The private sector has such an important voice in public policy discussions that we are missing an opportunity. “I feel like there is,” Allyn said. “Our theory of change is that companies need some pressure, and that pressure should come from their employees.”
She believes that climate-related job displacement is an important trend, but recognizes that not everyone can afford to quit their job, and that she believes that “climate change stays” is an important trend. Recommended.
To see where companies are impacting the environment, Lakin recommends checking out the Good Jobs First Violation Tracker, a database of corporate violations on topics ranging from the environment to discrimination. To do.
Climate Voice has a guide to climate action for employees, which explains how to research your company’s climate impact, including which industry associations your company belongs to, how to demand change, write proposals and encourage your company to take action on climate change. We offer one-on-one sessions on the best ways to market. Executive.
Next, Allyn recommends taking collective action by engaging your colleagues through educational events and forming work groups.
“It’s not just criticizing the company; it’s saying, ‘We love working here, we’re proud to work here, and we want this company to be a force for good. ‘I want it,'” she says. And it works. She mentions her Google decision to stop building her AI tools for oil and gas drillers, which she says was due to internal pressure from employees.
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