What The ‘S’ In ESG Can Do For Your Business

What can the ‘S’ in ESG do for your business? An increasing number of firms have started implementing environmental, social, and governance (ESG) initiatives and goals within their companies. That’s been driven by quite a few things, especially the multiple benefits these offer.

Taking advantage of these and using them effectively could boost your company’s overall productivity. You’ll also have happier and more well-rounded employees that act as brand ambassadors for your company.

If you focus on the social part of this, that’ll be especially the case. You might be unsure about this. If you don’t know much about these types of initiatives, then that’s natural. Your company could benefit from focusing on the ‘S’ part of ESG in multiple ways.

How Does Your Company’s Decisions Affect Your Employees?

One of the more important parts of ESG is understanding how your business decisions and actions affect your employees. It’s easy not to notice this, as entrepreneurs are often more focused on the company itself.

You’ll have a responsibility to them. Some of this may be legally mandated, but most of it will be ethics-based. As an entrepreneur, you’ll want to treat them right so they’ll treat your firm right.

Financial stress is one of the more important ways you can impact your employees. For minority groups, that’s statistically shown to be the case. If they’re not being paid a livable wage, then they’ll struggle outside of work.

Coupled with that are the demands that your business can make of its employees. Work will take up a significant amount of their workday. Long hours and unpaid work can have a negative impact on them.

Not only does this lead to stress and a lack of sleep, but employees may not take as much care of themselves as they should. As you might expect, there are multiple other ways that your company’s decisions can affect its employees.

These can play out in minor and major ways. You’ll want each of these impacts to be as positive as possible. There’s much more involved in that than you’d expect. There are multiple ways you can focus on it, however.

How Can Your Company Improve Their Social Impact?

Helping your employees can be one of the most effective ways that your company can improve its social impact. ESG initiatives should start at home and then move outward. You wouldn’t be able to address issues elsewhere if your firm suffers from similar ones, after all.

You can do this in quite a few ways, with many of Amba’s tools and services being more than helpful in this. Paying a living wage will be one of the most obvious. Not only will this ensure that your employees have enough to live on, but avoids the anxiety associated with financial stress.

With fewer financial issues, your employees can be more productive and happier at work. Coupled with that are other wellness initiatives, such as providing retirement policies, among other things.

Employee benefits packages can be the most effective way of doing this. These can include the likes of:

• Healthcare plans.
• Wellbeing training.
• Addressing gender pay gaps.

These benefits can improve your social impact among your employees, alongside their families. That can have more of an effect than you’d think. If you’re looking to increase your social impact, Amba can help you.

Implementing The ‘S’ In ESG

With a range of employee benefits-focused tools, among other things, you’ll be much better prepared to improve your social impact.

Through our employee engagement portal; Lumina, employers can access real-time data that shows the actual employee wellbeing challenges being faced by their business.

After completing employee health checks, we issue a personalised wellbeing score and tailored recommendations, giving HR the business case for implementing the right workplace wellbeing services, at the right time.

The wellbeing solutions we offer include, on-demand online counselling, workplace wellbeing training and more.

We would be delighted to show you how Lumina could work for your business. Book a free, no-obligations demo today.

Book a demo