It is a well-known fact that a company’s performance can be improved by hiring the right talent for their business, and while talent recruitment can be expensive, talent retention is what most companies should start to invest in. Being a responsible, sustainable business can be a rather attractive asset for young professionals serving as motivation to stay longer when given the opportunity to work and grow professionally in a competitive environment that contributes in a positive way to society. Any company’s (however big or small it may be) involvement in irresponsible business practices poses a significant threat to an organization’s talent management objectives.
There is no denying that we are currently living in a hyper-digital era, where a poor corporate culture crisis can be magnified into a scandal in social platforms such as Twitter or Facebook; networks that are used to report these claims. Media exposure can do irreparable damage to brand identity and reputation, which diminishes margins and share value, especially when involving legal issues. The risks of poor public relations due to a negative reputation are so great, it is critical to make sure that carefully crafted employee engagement strategies and ethical labour practices are employed so that only positive internal feedback reaches the public sphere.
Beyond millennials’ sustainability awareness, employees nowadays are really doing an effort to ensure that the companies and organizations that they work for are good corporate citizens that pay attention to sustainability efforts. Which is why organizations must now rethink sustainability as a whole system that affects them internally even in the face of extreme externalities.
Having a radical business model innovation with a sustainable approach to managing their resources can help corporations recruit and retain top talent. People want to align themselves with employers who demonstrate that they are willing to invest and add value to the community. Join ALGI, to become a part of that a sustainable ethical culture and start identifying those gaps within your company by contacting us.