In the 21st Century, information and knowledge travel at the speed of light. Social issues and social awareness have transcended national boundaries and have become global phenomena. Whether we are dealing with customers, supply chains, the environment, or corporate governance issues, investors, employees, customers, suppliers, and society, in general, have become very sensitive to the issues surrounding ESG ESG has become the core of any company’s strategy and its resilience
For ESG to be successful, the old adage “charity begins at home” is vital. The core of any organisation is its employees. How they feel, act, conduct themselves, and what they value is critical to the organisation. This is greatly influenced by how organisations treat them. Instead of focusing on what the employees can do for the organization, the focus has shifted to what the organisations can do for their employees to nurture their growth, conducts, values, and attitudes and retain them Thus, human assets are crucial for businesses to develop, implement, and sustain their ESG strategies In this issue, we learn from the experts and their insightful thoughts on this topic
In recent years, interest in sustainable investing has moved beyond only financial gains. The business landscape had to undergo slow, methodical, and subtle modifications as a result of this transition Environmental, social, and governance (ESG) factors are frequently associated with investor relations, but in reality, ESG encompasses all stakeholders- investors, boards of directors, employees, customers, and communities alike. E, S, and G are the three primary pillars used to evaluate a company's sustainability and ethical impact. Investors, customers, and potential employees use ESG performance to decide whether to invest their funds or their time in a particular company, even though the considerations are primarily non-financial As a result, a company's ESG performance may help it draw in investment, clients, and talent, all of which may also have an impact on its financial performance
Organizations today are becoming increasingly aware of how vital HR is to designing and executing their overall ESG strategy. The role of the chief human resource officer (CHRO) and the HR departments have evolved over the previous two years due to a pandemic, growing social media awareness, and phenomena like "Great Resignation " In a time
PROF. VARTIKA DUTTA CHAIRPERSON, OB-HR AREA
when it's challenging to attract and retain star performers, it was found that ESG performance would become more significant for wooing and keeping talent. Some research studies also reported a strong correlation between employee happiness and company ESG initiatives. HR plays a critical role in shaping the message surrounding social concerns as organizations navigate the challenging path toward societal change and transparency mandates. However, considering that many workplace social issues are inextricably tied to problems that HR professionals deal with on a daily basis, it is still crucial for HR professionals to be aware of the main ESG areas of concern to help their companies improve their ESG rankings Some critical areas across various sectors that need a focus and reorientation from HR professionals are diversity and inclusion, mental health and wellbeing, remuneration and equity, and humane and healthy working conditions. ESG initiatives for a firm can and should be developed and carried out by HR leaders and their staff. This includes fostering a robust and welcoming culture in which each employee feels valued, appreciated, and a part of the team.
Ekagra 4 0 sketched a way forward for HR professionals to reorient and redefine themselves, given the changes propelled by the uncertainty in the business environment In this edition of Ekagra 5 0, we dive deeply into what ESG is, why it matters to HR professionals, and how HR professionals can aid their businesses with their ESG credentials The industry is abuzz with various initiatives being launched to bring ESG dialogue into the corporate boardrooms There are viewpoints from industry leaders and students which have been incorporated into the magazine to give all the readers a chance to emphasize this desire to conduct business and their investments to be more socially responsible and sustainable. We sincerely hope that you will read and appreciate this curated effort put in by the students of the HR Club-HRithvi. Do write back to us with any further comments and suggestions.
truer than in today's times. As we furiously hasten the pace of growth in today's world, it is sometimes a sobering thought to realize that our consumption and utilization of resources is 1 6 times what the planet has to offer
Apart from governments and legislations, the industry has a huge role to play in influencing the consumption of resources as well as encouraging and delivering a sustainable way of living for all of us. Indeed, it is now that getting on top of this wave is high on many businesses' resolutions, not the least because the risks of inaction are compounding
So why are companies making ESG a strategic priority? Historically, the balance sheet is at the core of every business, and environmentally beneficial decisions have, in the past, been implemented when it is financially healthy to do so. While the drivers are financial, a push/pull dynamic underlies corporate performance Early adopters identify the profitability tipping point and never look back Laggards act when the cost of noncompliance with increasingly prescriptive regulations becomes uneconomical, changing behaviours, but more often not attitudes. In fact, businesses that make sustainability a strategic priority with specific sustainability aspirations and targets, are more likely to capture value and customer trust Stakeholders such as investors, shareholders, financiers, and customers don't expect instant transitions and will respond to a transparent, credible, and specific ESG strategy But it won't be enough to tick a few sustainability boxes and publish a glossy report. This requires deep commitment on a long-term basis to deliver sustainable impact. This is where the role of the HR leader comes in, to influence, impact and drive the ESG agenda for companies The starting point is embracing the belief, that a purposeful strategic plan to benefit both people and the planet can also drive profit
Similar to investors who wish to invest conscientiously, employees also wish to work for companies with strong ESG values and priorities, particularly if these values align with their own.
Employees can and will gauge what companies do to pursue their ESG values Whether companies are doing enough, will have an impact on how engaged employees are in the company through the alignment of corporate and personal values. HR leaders need to be alive to these issues to help attract and retain the company's talent.
Given the nature of the issues being addressed in ESG, by its very definition, an employer cannot be reactive Addressing ESG in HR requires a proactive mindset and approach. So, what does that look like in practice? These are the areas where HR can make a start.
Talent planning - ESG is a rapidly developing areadoes the company have the right people with the right skills to advise on and support its ESG initiatives? It may be necessary to hire staff with a different skill set and clearly define ESG-related roles and responsibilities. Does the company have a diverse workforce, particularly diverse representation on boards and in management? Does it have appropriate succession planning to ensure diverse representation on boards and in management?
HR data and systems. Without appropriate data, a company cannot set measurable goals and track and report progress. Diversity and Inclusion (D&I) goals, such as "we will aim to do better this year," without measurable targets, do not provide the comfort of commitment to promoting diversity and inclusion, as well as accountability Does the company have the required D&I data to make informed decisions, set measurable goals, and be accountable?
G l o b a l C H R OHR supply chain. HR's sphere of influence is expected to be beyond just managing a company's employees They may cover third-party providers such as independent contractors, benefits providers, suppliers, and third-party vendors. A company's choice of terms on which it engages third-party providers plays an integral part in its ESG strategy. Do the company's third-party service providers support its ESG values?
The "carrot" and "stick" to motivating employees to act on ESG. How does the company incorporate ESG goals in individual performance goals and compensation arrangements? How does the company recognize and support employee contribution in giving back to the society (e g volunteer and community work)?
Implement appropriate policies to support ESG. HR can engage in ESG by implementing appropriate company policies and practices. Policies addressing core ESG values such as diversity and inclusion, flexible work, promotion and remuneration (including those dealing with gender/ethnicity, pay/representation gaps), whistleblowing, well-being, and effective disciplinary and grievance procedures can significantly assist in areas such as promoting diversity and inclusion and preventing harassment and discrimination However, just having appropriate policies in place is insufficient There must be sufficient education and training to give effect to the policies, including refresher training if necessary and processes in place to detect when these occur and take swift and appropriate action
The list above is not exhaustive, but it is a start. Companies should start today because changes associated with ESG will not happen overnight. Ultimately, HR professionals should remember that ESG reflects the society's values. Where a business' workforce aligns with society's standards, a greater understanding of the market and customers will naturally be achieved. Within this alignment, ESG brings benefits to a company, including greater profits and enhanced attractiveness to investors and employees
One of the best professors I ever had, once told me that my greatest strength is “Resilience ” And that’s what MBA meant for me - a journey of overcoming my fears and insecurities and getting myself ready for the world to come What truly mattered to me was making the experience worthwhile. I wanted to make sure that when I step out into the corporate world, I have built valuable connections, made plenty of mistakes, learnt a good deal of lessons, and can walk with enough confidence to be able to tackle anything that life throws at me
Human Resources is something I am really passionate about I’ve come across many random people asking me, “Why HR?”. From my experience, setting aside what gets covered in your books and theories, it helps develop the essential soft skills you need to survive in the corporate rat race. You’ll learn a lot about people, situations, and, most importantly, yourself When you are working in a company, like every other function, there’ll always be a business-oriented side of HR that will keep running, as usual Be it recruitment, compensation and benefits, or Learning and Development, but what is really at the heart of HR is – People management. Dealing with tens of different personalities at the same time, somehow making things work out for your employees, all while networking and navigating your way through these tough situations is a daunting juggle More often than not, an HR is on their own All of this teaches you how to deal differently with different people We all have our go-to style of working that comes naturally to us, which may or may not work every time. Hence, it becomes imperative to customize our style according to the task at hand.
These are the things that I’ve experienced in the past eight months of working in a corporate There are good times, and then there are times when it becomes difficult to cope But everything, be it big or small, complex or
straightforward comes with a learning. For instance, who knows, your difficult-to-handle boss might be taking you through a lesson, “How to thrive with difficult people in your life ”
This is the perspective that MBA, not to mention HRithvi, has given me. Being in HRithvi came with a lot of challenges & learnings. It ultimately gave me lifelong friendships, great critics, and an amazing mentorsomeone who identified my weaknesses and strengths and who becomes happier in my success than I do even today
As rightly told by Dr Vartika, resilience is what helped me grow during my MBA and it is what keeps me on my feet today
As Doug Conant rightly said, “To win the marketplace, one must win the workplace ” The 21st century has seen a shift of focus from P&L and the bottom line to focusing on organizational workforce and culture development. With this change, two terms that have taken the front seat in the business world today are DEI & ESG.
DEI refers to a model where everyone feels welcomed, empowered, and valued in an organisation Everyone should have equal opportunities to grow in an organisation that follows DEI principles The question that leaders might have relates to the WIFM syndrome, and the answer, as per a McKinsey report, is that organisations with a better DEI outperform others by 35%.
ESG refers to the environmental, social, and governance considerations that organisations face Today, with more awareness of climate issues, these parameters are essential for any organisation that considers itself a global company This is more important as some investors use this to understand the business’s potential. Using an ESG framework, companies can set measurable objectives for each category to update their operations, for example focusing on energy efficient facilities under environmental, etc
Under the Social pillar of ESG falls another umbrella –DEI Hence, ESG is the broader umbrella under which DEI is an important part Both DEI & ESG factors shape the firm’s culture and, more importantly, its people. Both frameworks aim to help organisations proactively work towards building a holistic workplace and have a positive impact on society.
The Covid’19 pandemic has transformed how work is done- hybrid models and work-from-anywhere models became a norm during those days, and these practices are here to stay for the foreseeable future The usually HR-driven initiative of Diversity and inclusion, which starts from the recruitment process in a company, continues in the selection, appraisal, workplace events,
and even designing of the workplace policies (heard about menstrual leaves or paternal leaves for fathers?) There are many challenges when one starts to implement the DEI part of ESG- how do we create a workplace which is welcoming for people returning to work after a break, figuring out how to engage remote employees, how to be sensitive or more supportive of say employees who fast during the month of Ramadan, and the list adds on
Workplace cost/employee 3.5% employee's compensation. For an employee earning $150,000/year=$7,500
V E R S U S
Cost of attribution for same employee in between $75,000 & $140,000
The global workforce of the 21st century is changing and transforming- the correct time for any practitioner of DEI and ESG to be in the field. The war to get the best talent where employees have the upper hand in choosing the places where they work is brewing in the foreground today
The next generation of employees is focused on “purpose,” and this is where an organization that focuses on DEI & ESG goals would differentiate itself. If we look at the numbers of it all, goals which achieve employee satisfaction, efficiency and retention show their benefits.
To be the best in this brave new world, HR practitioners of today must also hone the hat of a General Manager, focusing on broader goals set forth by ESG, which are multifunctional and comprehensive while ensuring that the DEI goals which form an integral part of the former are kept in mind. The amalgamation of these two would create an incomparable competitive advantage for the firm in question. This competitive advantage would be difficult to copy by other organizations and would be sustainable. So, for the 21st-century organization, a place where ESG meets DEI is definitely the place to be!
Sustainability is a key component of our corporate strategic framework We not only recognize our responsibility but are also determined to play a leadership role in ensuring technology creates a sustainable future. While we have been driving internal change across every aspect of our operations, we are also committed to helping our clients achieve their net-zero goals through our portfolio of offerings
We are mobilized to speed up the transition to more sustainable and inclusive economies by leveraging technology and human energy to tackle ESGEnvironmental, Social, and Governance challenges. Now that we know what ESG stands for let us look at what gets covered in each.
From a practical point of view, the 'Environment' facet of ESG includes practices like reducing business travel and commuting emissions, creating sustainable energyefficient workplaces, and managing waste efficiently The 'Social' facet comprises attracting and retaining top talent, investing in upskilling the talent, ensuring diverse & inclusive workplace, safeguarding people's health and safety, and addressing gender gaps. The 'Governance' facet deals with maintaining ethical standards and protecting infrastructure and personal data
To harness collaborative efforts, we at Capgemini also team up with our partners and suppliers, start-ups, policymakers, governments, and academics to make sustainable progress. Capgemini has a framework of 8 priorities and 11 ambitious objectives that are gathered into our ESG policy. This framework helps us unite our employees with clients and partners worldwide to these quantified and transparent objectives
As far as an ESG officer is concerned, it all depends on the industry the organization belongs to We also need to bear in mind that the role, name, or designation can also vary from company to company. Irrespective of the presence of an ESG officer, each team member should be at the forefront of ESG matters, with sustainability being a key priority of the company. Working towards achieving net zero operations is at the core of our business priorities
Yes, the 'Social' part of ESG is pivotal for human resources Apart from ensuring a sustainable environment, driving equity and inclusion in the workplace is a critical priority for us. Some of the dimensions of diversity and inclusion at Capgemini today include Gender balance, PwD inclusion, LGBTI+ inclusion, and Happiness & Well-being.
HR policies have evolved and now focus on not only on employees or talent but drafting and implementing policies with other functions like real estate, administration, transportation, etc , to make a collective effort to address the need of the hour
When it comes to the physical environment at work, the human resources and real estate teams have worked together to ensure that we implement the energy-efficient infrastructure. For instance, Capgemini's Corporate Real Estate Services (CRES) Engineering and Operations team initiated a Net Metering program in Capgemini's campuses in EPIP Bangalore and Hyderabad Gachibowli, which enables the company's captive solar power system to export surplus energy generated from their in-house solar plants to the state electricity board. Capgemini's facilities in Bengaluru, Mumbai, and Pune have transitioned to
Q2 According to most industry leaders, HR plays a pivotal role in the implementation of ESG strategies, especiallythe 'Social' part of ESG, so how do most Human Resources teams get involved in ESG? Does the process typically start with HR,
or is there an ESG officer?
Q3 Since HR seems deeply rooted at the heart of ESG, we would like to know, what are some of the major key HR policies implemented in the corporates that have impacted the companies' future? How can these policies be more effective and relevant to the dynamic future?
100% renewable electricity Our Bangalore campus is the first corporate campus in India to receive Net-Zero Energy Platinum certification.
The companies' transportation fleets are converted into electric vehicles, and charging points are made available for employees free of cost At Capgemini, we recently deployed hybrid and electric cars and vans for our 12,000-vehicle company fleet, stopping with immediate effect the order of new pure diesel or petrol vehicles as we transition to a fully electric fleet by 2030. We have also begun deploying electric vehicles for employee commutes.
We invested heavily in the training space to bring awareness and address the behavioral change in creating a green bent of mind Employees can go through an introductory course to understand sustainability and take additional courses that are relevant to the role they are playing and the industry they are supporting. We have been working towards addressing climate change in every aspect of our business - from sensitizing people about protecting and nurturing the environment to launching our unique Energy Command Center (ECC). The ECC is a global first initiative for the Group that harnesses a data-driven approach and digitalization to monitor and manage its energy assets' performance while aiding in its sustainability initiatives across its campuses in India.
skills needed to drive ESG and sustainability strategy and outcomes in these competitive times?
As a responsible corporate, we acknowledge our responsibility towards protecting the environment and taking adequate actions for sustainability - through various initiatives to sensitize people about protecting and nurturing the environment In line with this, we have set targets around Net Zero in line with the Science-Based Target initiatives. Consistently our leadership is having conversations around this, not just with our employees but also with our clients and partners. We have taken the additional task of helping our clients achieve their Carbon neutral targets
We also realize that young professionals look forward to working with organizations that genuinely care for the environment In line with our purpose - "Unleashing human energy through technology for an inclusive and sustainable future," Capgemini's ESG strategy covers fighting climate change, investing in human capital, as well as responsible governance. This framework helps us unite our employees with our clients and partners to leverage technology's potential for society's benefit
Our brand/employee promise also focuses on the future 'Get the Future You Want' , and we regularly have dialogues with our employees on how we can't predict the future but can surely build it.
Q6. Where do you think this ESG area will go in the future? What are Capgemini's plans to stay on top of this sustainability race?
Under its Business Resource Group (BRG) Sustainability, Capgemini has launched Prithvi Mela, a one-of-a-kind event in different cities where we have our operations. This event was conceptualized to create awareness and engage our employees with varied topics around sustainability
Prithvi Mela, an Earth fair, celebrates sustainability in all forms and empowers employees to adopt a more environment-friendly lifestyle. At the Mela, we showcased sustainability initiatives demonstrated by Capgemini India Corporate Real Estate Services (ICRES) and Centre of Excellence (CoEs) for employees, clients, and partners Stalls of eco-friendly products were set up by employees and external sustainable organizations Apart from the exhibition and experience center, there were panel discussions on various topics highlighting the concept of sustainability from different perspectives.
Q5. India is currently facing its biggest skill gap, which has started the war for talent nationwide How do you attract, develop and retain the leadership, talent, and
People are growing more aware of sustainability due to the weather events that are witnessed across the world. ESG areas are only going to strengthen further, as they should be. ESG is multifaceted and complex, and when things are complex, it takes time for them to fall into place.
Capgemini leadership takes part in the Conference of Parties (COP), and we have identified different Sustainable Development Goals (SDGs) out of the 17 listed by the UN that we want to work on Within each SDG, we have listed the priorities and objectives we want to achieve.
We have also designed our sustainability framework to empower and support clients, to speed up each stage of their net zero journeys. In delivering our engagements with clients, we have developed a range of sustainability tools, including our Carbon Travel Dashboard, Carbon Calculator, AI Carbon Impact tool, etc , which assists clients in recognizing opportunities to reduce emissions through virtual collaborative delivery.
It is not just reporting on ESG metrics but genuinely living the purpose of our organization is what we are after, and I can see the enormous efforts everyone is putting in beside the HR organization on this journey
By Tirtham Mukherjee MBA-HR01 Batch, IIM Amritsar
The economic costs of climate change are now a significant financial risk for businesses and economies worldwide The World Health Organization has issued warnings for increased attention to be given in the areas of clean energy, work, economic growth, and climate change to reduce the incidence of some of the world's most dangerous diseases.
Many organizations have flourished despite the mayhem caused by climate change, pandemics, geopolitical shifts, and social division in the world we live in today, which is marked by persistent volatility While some organizations have been able to withstand the effects of these turbulences, others have been severely impacted because they failed to adequately prepare for the impact. It is without a shadow of a doubt that we will continue to observe and experience global shocks, and it has become abundantly clear that there is a gap between organizations' perceived readiness and their actual ability to react
The ability of organizations to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets, and overall brand equity is an organization's business resilience. Business resilience extends beyond disaster recoveries and business continuity by providing post-disaster strategies to cut down downtime and vulnerabilities and maintain business operations in the face of additional, unexpected breaches These remarkable post-disaster strategies can be found in "business resilience " Recognizing the significance of organizational resilience is an important first step, but formulating and putting into action a winning strategy is what's really going to set an organization up for long-term success. To build a better and more unified future, we need to prepare for significant challenges that threaten organizations' resilience and investigate how organizations can quickly adapt to unforeseen circumstances
To safeguard their operations and guarantee continued success over the long term, businesses need to investigate and work on their value-creation plans for the new company and optimize their performance related to current and future key environmental, social, and governance (ESG) issues.
For businesses to be successful in the 2020s, they will need to have a solid understanding of the forces that will shape the next decade and the ability to recognize and capitalise on emerging opportunities
Building a resilient business increasingly depends on companies preparing for the impact of both risks This is because the dangers from ESG issues such as climate change, water scarcity, talent retention, and waste management have become more apparent because of the
growing investor attention and action on ESG issues.
The impact of Covid-19 not only indicates a public health emergency but also serves as a reflection of the broader trend toward the emergence of other planetary crises This should serve as a wake-up call that a fundamental shift in the established order of the global economy is on the horizon. It is time to shift towards a green and circular economy and consider the risks and threats posed not only by pandemics but also by climate change, waste management, and the loss of biodiversity Companies must address a paradigm shift in their existing business models to remain competitive in a constantly evolving world and present new challenges to businesses The impact of the risks posed by ESG factors will threaten and hurt our capital markets and influence the performance of corporations.
At the Rockefeller Foundation, researchers worked to encourage the development of resilience tools such as the City Resilience Index This index identifies 52 different metrics that help make cities more resistant to natural disasters. It is currently utilised to assist governments worldwide in measuring and managing their programmes, operations, and investments; however, it could be easily adapted for use by companies and investors And because of their collaboration with the World Bank Group, they developed a "resilience screen " This tool enables investors to assess the robustness of an infrastructure project by considering the project's capacity to withstand shocks and prolonged stresses, all the while enhancing public health and the general welfare of the community. Second, new technologies based on artificial intelligence, such as machine learning and satellite
imagery, have made it possible to collect data quickly (even in real-time), contributing to a more accurate measurement of resilience For instance, S&P Global Ratings recently conducted an analysis based on data obtained from NASA satellites to determine how the location of public water utilities would impact the organization's ability to maintain stable finances. According to Bloomberg, S&P discovered a correlation between better metrics on debt in better located in ecosystems. These ecosystems include evergreen forests, which are known to increase water quality, among other things The credit quality of water utilities can also be affected by external factors such as the possibility of droughts or their location in high-growth and high-demand areas, both of which can be visualised with relative ease, thanks to advancements in geospatial technology, as well as improvements in debt metrics. Excellent artificial intelligence-based data mining tools are also beginning to emerge, such as the risk assessment platform developed by One Concern
Third, researchers need to improve the expertise of investor and business governing boards and establish industry stewardship standards that they can use as a reference point. For instance, the Asset Management Taskforce, which the government of the United Kingdom leads, has proposed the establishment of a council to promote stewardship and responsible investment standards among pension plans Incorporating resilience assessment is something we strongly suggest such guidelines include
By AnishShirishNavalkar MBA-HR02, IIM Amritsar
"ESG is often a very good proxy for quality of management, which is critically important in a crisis. As we've seen over the last few months, businesses with highquality leadership tend to place a greater importance on their role in society and are more likely to prioritize workplace safety and employee well-being." - Brunno Maradei, CFA, Global Head of Responsible Investment, Aegon Asset Management.
ESG, or environmental, social, and governance, refers to a set of frameworks used by businesses to assess and report on the broader impact of their operations on the world around them It is a method for asset holders, employees, board members, and the general public to understand how a company is doing in addition to its financial performance Businesses are currently being judged on their ability to drive and shape policy changes that promote a positive environment for the entire workforce.
Due to economic shifts, the job market is tighter and more competitive than ever The current generation of job seekers prefers organisations that allow them to advance in their careers while also contributing to the betterment of the world that we live in. According to a recent MarshMclennan study, the current "top employers" have significantly higher ESG scores when compared to other organisations. This implies a direct relationship between employee satisfaction and an organisation's ESG performance, which leads to increased talent attraction In addition, according to WeSpire, incorporating ESG into corporate strategies can help retain up to 93% of employees.
It has also been observed that the greater an employee's perception of the impact of their work on the beneficiaries, the greater the employee's motivation to act in a "prosocial" manner Working in such organisations provides an increased sense of purpose, further boosting
employee productivity and bringing in more profits for the organisation
Finally, the pandemic in recent years highlighted the lack of accessibility and affordability of healthcare, which has also exposed and worsened the wealth gap between different populations. Because of the consequences it had, the incorporation of ESG into the social aspect of employment safety has grown steadily Employee health and well-being are being ensured in many organisations by adopting flexible methods of building resilience and providing resources to them. This has positively resulted in an increase in employee satisfaction and productivity.
To summarize, it's becoming increasingly evident that businesses with a more robust track record in ESG performance are better able to both retain and attract top personnel than their competitors By 2029, Millennials and Generation Z will make up the majority of the world's workforce (72 percent), making ESG performance even more crucial in attracting and keeping talent. These workers expect even more from their companies in terms of social and environmental responsibility since they place a higher value on these problems than previous generations Thus businesses will gain a competitive edge in the future if they emphasize on environmental, social, and governance (ESG) performance, which will, in turn, help them retain talented workers of today and the future.
Apple Inc has an ambitious goal to become carbon neutral by 2030 and the company is making significant progress towards this goal Last year, it announced that 175 suppliers have committed to completely shift to renewable energy
The company pledged to use renewable energy to power all its data centers by 2023. The company also supports Catalyst Fund, which helps startups working to improve the livelihoods of underserved customers.
The parent company of Google said that it issued a whopping $5 75 billion in sustainability bonds, easily surpassing all peers in the industry It committed $1 billion to support the construction of 20,000 affordable houses in the Bay Area It focuses on racial equity and women’s rights across the globe.
One of the Top ESG Companies of 2022. In 2020, Salesforce Inc also signed an agreement with renewable energy firm X-ELIO’s Blue Grass solar farm in Australia. The project will have the capacity to power 80,000 homes and save more than 320,000 tons of CO2 emissions annually.
One of the biggest tech companies in the world plans to become carbon neutral by 2030 It initiated the removal of 1 3 million metric tons of carbon from 26 projects around the world Microsoft says it will be replenishing more water than it uses, becoming “water positive ”
PepsiCo, Inc said in its ESG report that it’s working to promote regenerative agricultural practices, which make soil healthier and reduce carbon from the environment Pepsi has also set an ambitious goal of making 100% of its packaging recyclable, compostable,
Bank of America Corp in 2021 formed an ESG advisory and financing solutions team This year, the company hired four top executives for the team, according to Reuters Bank of America Corp has set a goal of achieving net zero greenhouse gas (GHG) emissions by 2050
The workplace has inspired many films and television shows in Hollywood. One could trace the evolution of the American workplace over the last 100 years through its portrayal in cinema and television. The sheer number of comedies in a workplace has resulted in many of them being classified as 'workplace sitcoms ' The list is vast, from 'I love lucy' to ‘The Office’ and ‘Brooklyn Nine-Nine’ Perhaps the workplace and the idiosyncrasies of the office-goer were always going to resonate with the average viewer.
The entertainment value of the workplace sitcom aside, the genre also provides insights into popular perceptions of the workplace and a steady account of changes in the workplace Right off the bat, one can notice not only has the workforce become more diverse but also diversity has become more normalized in its portrayal in film and television over the years. While it was beginning to appear as though the genre was done and dusted, the emergence of silicon valley and an even more 'modern' workplace at technology firms that came up with original ideas on how to treat employees gave filmmakers entirely new impetus to carry on with the genre When it comes to technology startups and startup culture, the show that one is most reminded of is ‘Silicon Valley’. The show, about a startup set in silicon valley, gained instant recognition during its celebrated run of five seasons but is even more relevant today in light of the changing perceptions of the 'tech' world, especially during the pandemic
Created by Mike Judge, John Altschuler, and David Krinsky, the show is often lauded for accurately portraying the silicon valley culture. The show unabashedly pilloried several personalities in Silicon Valley and portrayed many of their peculiarities with exceptional detail. Of particular interest is the show's principal antagonist Gavin Belson who can be considered somewhat of a mix between Steve Jobs, Bill Gates, and
many other big-name CEOs and investors At one point in the show, Gavin Belson is shown to hire a young man for blood transfusion as he believes it aids in longevity and vigour. It is rumoured that the show was trying to portray Peter Thiel, who held similar beliefs and indulged in similar practices.
Idiosyncrasies aside, the show is much more stinging when it captures the megalomania, narcissism, and machiavellianism of the average silicon valley CEO The Silicon Valley CEO is shown to be a lot more interested in saving their image, ruthless in taking decisions especially concerning layoffs, and spending most of their time trying to destroy their competition than actually inspiring their teams to develop better products.
Throughout the show, the young and bright founder protagonist Richard Hendricks goes from an upright and moral tech entrepreneur to someone as narcissistic and toxic as Gavin Belson The trials and tribulations of running a startup in Silicon Valley turn him into someone as terrible as the villain himself.
The show also makes other important observations. The environment in Silicon Valley sometimes results in mediocrity getting rewarded based on how industry insiders react to the show The show brought up many things, especially about this aspect It recognises the brilliance of some of the engineers working in silicon
valley and how a very small minority is significantly more productive and essential to the functioning of many Silicon Valley organizations
Above all, the somewhat stray observation that caught my eye as a professor at a B-School is the show's respectful nod to HR and Management as a discipline in general. One of the four other members of Richard's team is Jared Dunn, a management type who often gives sage advice despite several of his oddities. The show concedes that as much as technology is at the center of silicon valley and much of its startups, management principles, and academia have a substantial contribution to the growth and administration of many of these new-age corporations For its perfect portrayal of an entire industry, its deep understanding of business management issues, and its uproariously funny humour, I'd always recommend it to all management students as a must-watch
We hosted our guest lecture series, ‘Career Clinic 4.0’ which aims to help students advance their careers by inviting stalwarts, career coaches, and life coaches who would help them carve their own career by sharing their experiences and guiding them through the labyrinth of life We were immensely honoured and privileged to have Mr Manu Bhatia, Associate Director, Verizon India, with vast experience in developing and managing systems of engagement as the speaker for the session – “Navigating HR Interviews”. He interacted with the students and patiently answered all their doubts and queries regarding HR interviews We hope the students benefitted from his expertise as an interviewer
In the month of October, we hosted the two rounds of our quiz series. First round called Crème de la Crème was an offline quiz round which tested core HR knowledge of the students participating in teams of 2. This round had a timer and the score of each team was calculated in such a manner that positive points were awarded for speed and accuracy and wrong answers were penalised The top teams shortlisted from this round contested against each other in the final round, The Clash of the Winners This round was a blend of buzzer round, logo quiz, and current affairs. The event overall helped the students to enhance their knowledge in a learning and playing environment.
In August 2022, Yukti – The Annual HR Conclave of IIM Amritsar was conducted. The Conclave aimed to provide a dais where the veterans from the industry interacted and reflected with the budding managers on the recent trends and developments in the domain of Human Resource Management. This Conclave aimed to provide the student fraternity at IIM Amritsar with a holistic view of how a cohesive and competitive market responds dynamically to varying conditions. The event focused on two critical aspects in the domain of HR – “Employee Experience – Moving back from the ZOOMbie land” and “Talent Acquisition 4.0: Winning the war for talent”. The students interacted with the experts to gain industry knowledge related to the recent transformations.
In the month of September, we conducted a three rounds event which was a collection of management games to test business acumen, skills, and knowledge The game was designed to throw the worst at the participants and to bring out the best. The participants were needed to show their calibre, the power of persuasion and the ability to handle the pressure. The first round of the event was a kahoot quiz round based on speed and accuracy; the second round named HR Wars was a recruitment round The final round was a game of treasure hunt The students were benefitted with the knowledge and experience they gained through the event and it witnessed an enthusiastic participation.
1. When an employer takes an adverse action (such as demotion, discipline, or firing) against an employee for exercising their rights under employment laws.
2. Taking up another job by an employee working full-time in a company
3 The number of days from a job opening is posted to when a candidate is hired
4. Contingent workers, such as independent contractors and freelancers, who normally perform temporary work for multiple clients.
6 The direct and indirect costs associated with recruiting talent e g , advertisement costs, staffing agency fees, signing bonuses, relocation costs, HR overhead costs, background check costs, and training costs
5 When an employer places an employee on temporary, unpaid, and involuntary leave of absence, typically in response to an economic decline or government shutdown.
7. The process of terminating multiple employees simultaneously, due to their positions being eliminated or organizational restructuring
8 A difference between the salary negotiated by a company and the one that is actually paid to an employee by the end of the work period, be it monthly or weekly.
9. When tenured employees earn less than new hires in the same position, or when direct reports earn more or nearly the same as their managers
10. The process of removing layers of hierarchy between the highest and lowest levels in an organisation.
Managing Partner, NEW ROI Advisors
The value of a business is a function of how well the financial capital and intellectual capital are managed by human capital. You’d better get the human capital part right.
Learn & Lead with HRithvi write us at hrithvi@iimamritsaracin
