FEATURE : SUSTAINABILITY
There must also be a more expansive environmental protection element , that goes beyond lessening impact and into areas such as conservation and biodiversity . Sustainability has a stewardship duty , ensuring that a liveable environment is provided for future generations to enjoy .
The Economics of Future Talent
There are also benefits that are incurred , from a top down and a bottom up perspective . The average tenure of a CEO in a Fortune 500 company has been just over 7 years for about a decade , however , the median within that range has fallen by 20 % since 2013 , at 6 years . A recent survey of CEOs found that more than three quarters ( 77 %) said that delivering on broader societal demand to accelerate their sustainability journey is a priority . With the indications of increasing career mobility among CEOs and such a strong commitment to delivering on ESG values , companies that have already established a strong ESG record will attract the top-level talent at the highest level .
However , this translates to talent acquisition at every level . Younger people are more career mobile and have been shown to seek out companies and positions that align with their own values , offering more than just a pay cheque . A strong sustainability profile is becoming more important in attracting and retaining the best talent as it is now seen as a broader
indicator of a company that is well run , aware , and willing to stand on strong values . Societal attitudes too are changing , as consumers use their buying power to express their own values .
This also highlights the importance of social and gender equity with skilling future talent . To ensure that there are opportunities for all , especially to redress the balance in digital infrastructure , to benefit from a diverse workforce of different ways of thinking , which bolster innovation .
Transcending Effect
Total cost of ownership previously provided a new , more valuable way of assessing a key aspect of doing business . Sustainability is moving the same way , with not just the cost , but the derived benefits being equally recognised .
As sustainability becomes a higher-level consideration in every aspect of business , beyond compliance , to a way of life – Total cost of sustainability as a holistic approach and business concept allows leaders to change perceptions to maintain their excellence .
Society is striving towards more responsible stewardship , and companies that continue to perform best at being sustainable , will be the successful ones to do business with , and to aspire to join . p
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