HR Bulletin Volume 124

HR BULLETIN

How tech can expedite sustainability

For many companies, the climate impact is outside their direct control, but tech can help in 10 specific areas

Sustainability has become a hot topic, not only for boardroom discussions and corporate strategy but also for setting government goals That’s primarily because consumers in many countries now see environmental sustainability and social responsibility as two sides of the same coin They seek brands aligned with their values But then, are companies listening? Sadly, not as much as expected Only 40% of companies have identified initiatives to close their sustainability gaps, only 37% have aligned sustainability objectives with their business strategies, and only 33% have integrated sustainability objectives and metrics into business processes. These statistics come from an IBM IBV (Institute for Business Value) and Oxford Economics study which polled 1,958 executives in 32 countries last year to map their sustainability readiness. “Lots of talk is happening, but not enough action,” the study reported. “While 86% of companies have a sustainability strategy, only 35% have taken action on that strategy.”

Fewer than 50% of the business leaders surveyed said they were willing to change existing business practices at the expense of profits to improve sustainability. And only 27% viewed sustainability as a core element of their business value. “These findings highlight the immense sustainability challenge companies face in converting intentions and pledges into reality,” the IBV report stated. “Achieving change at scale requires a fundamental reconfiguration of how value is created. And businesses need to lead rather than follow.

APAC Angst

What about the Asia Pacific region? The effects of the changing climate are already being felt, and by 2050, between 600 million and one billion people could be impacted by lethal heat waves According to recent McKinsey analysis, up to US$4 7 trillion of GDP in Asia is at risk annually from loss of effective outdoor working hours resulting from increased heat and humidity

At least one regulator is calling it out From Jan 1, 2023, funds sold to retail investors in Singapore under the label of meeting ESG (environmental, social and governance) standards will have to back up their claims with new disclosure and reporting guidelines issued by the MAS (Monetary Authority of Singapore). The name of the ESG fund should not be misleading; if it uses a term like ‘sustainable’, the fund should reflect this focus. That’s even more pertinent as the COP27, or the UN Climate Change Conference, got underway (Nov 6 to 18) at Sharm El Sheikh in Egypt. According to the UN’s Intergovernmental Panel on Climate Change, CO2 emissions need to be cut 45% by 2030, compared to 2010 levels to meet the Paris Agreement goal of limiting temperature rise to 1.5 degrees Celsius by the end of this century. Is this achievable?

A report just published by UN Climate Change shows that efforts remain insufficient to limit global temperature rise to 1 5 degrees Celsius by the end of the century Since COP26 in Glasgow, only 29 out of 194 countries announced tightened national plans But then, although more must be done, some initiatives are worth nothing Many countries have or are developing corporate disclosure requirements around environmental impact For example, in 2021 the EU banned single use plastic The UK plans to invest US$2 4 billion to promote cycling and walking. South Korea plans to double solar incentives to promote rooftop systems in homes and commercial buildings. China plans to build more than 78,000 electric vehicle charging stations.

Corporate Commitment

What can companies do to help support governments in their sustainability efforts? For many companies, the bulk of the climate impact is outside of their direct control. “Many enterprises are therefore factoring in their top sustainability goals across different functions in the value chain,” notes a recent IBM IBV report. “From design to sourcing to manufacturing and across the supply chain, businesses are now engaging with suppliers to create low carbon, easily recyclable products and services to reduce value chain emissions ” The biggest impact is from the retail sector That’s because retail and e commerce have become one of the biggest consumers of packaging material, such as plastic and paper Many retail firms are now adopting reusable delivery packs and recycled packaging material IBV polled 1,900 business leaders in the consumer products and retail industries from 24 countries. The results reveal major shifts in consumer behaviour. When compared to two years ago, 22% more consumers say environmental responsibility is very important when deciding on a brand; and 84% indicate environmental sustainability is at least moderately important. When asked about travel and personal mobility, 40% put environmental impact factors being more important than cost, comfort, and convenience.

About 50% believe a company’s climate change exposure affects its financial risk, and 92% of this group expect to invest, divest, or lobby fund managers to change investment mixes based on environmental factors and/or social responsibility in the next 12 months This group is nearly 1 5 times larger than personal investors who do not see climate change risk as a financial risk

Ten Point Plan

What can companies do to set up a long-term sustainable agenda? How can companies leverage technology to help support sustainability and ESR efforts? Here’s a 10 point plan of action recommended by IBV

Why we should talk more about empowering mums at work

People Matters spoke with Holly Fang of Airwallex about the difficulties of juggling leadership and motherhood

If climbing up the corporate ladder is hard enough for a woman, especially those working in male dominated industries, then how much more difficult is it for mothers? According to a seasoned Finance leader, conversations about empowering mothers at work need to be deeper and louder.

Holly Fang, Head of Financial Partnerships for APAC of financial tech platform Airwallex, said being a female was certainly a challenge when she was starting out, but her transition into motherhood was one of the hardest times of her career.

“There are certain topics that we don’t really talk about at work, things like postpartum depression, the associated mom guilt of not spending enough quality time with young children,” Fang told People Matters in an interview “When there are downtimes at work, I also felt like I had to constantly choose between hanging out and spending the time with the team, versus dashing home to be with my baby It’s definitely not easy,” she added Fang started her career over a decade ago with the Economic Development Board of Singapore, where she spent a couple of years before taking on a lead role in strategic partnerships with the APAC for a Silicon Valley based firm. She joined Airwallex, which then has just achieved unicorn status, in 2019. She first served as a Strategic Partner for Airwallex, managing banking relationships and partnerships with other tech players in the ecosystem. In 2020, she was promoted to Director of Partnerships to build up a dedicated team in managing our growing network of financial institution partners…

Workplace gossip: Why it’s good for you?

Gossip is merely a piece of social knowledge, and when we engage in gossip, we learn a lot about the social environment in which we live

The famous quote states, "A lie can travel halfway around the world while the truth is just putting on its shoes.“ What is gossip?

The word gossip usually carries negative connotations A person, who indulges in gossip, is often frowned upon or otherwise seen in a negative manner Gossip hearing is the word that leaves us with a bitter taste in our mouths It's frequently described in the dictionary as "casual or unrestrained conversation or reports about other people, usually involving details that are not confirmed as being true " Humans are genetically designed and inclined to be curious to know about other people, which leads to the tendency to gossip Research has proved that almost everyone takes part in gossiping be it the information provider or the listener. This is indeed true for all genders. Gossip is always seen with negative connotations. In this article, let’s explore the positive impact of gossiping behaviour. Why do people gossip?

For gossip to propagate, no actual proof or evidence is required; Just speculating is sufficient. Some of the potential causes of gossip are as follows:

• Individual’s desire to prove their superiority.

• Sometimes, the skill and abilities of their coworkers could make them feel intimidated.

• Some people struggle to overcome their anxiety when things go wrong and overcome the stress they gossip about

• Gossip is not a derogatory term information shared can be positive or negative or neutral It can also be personal or professional as well Since gossiping cannot be avoided, organisations can think of channelling the spread

Right workplace culture most powerful lever to attract new talent

A purposefully designed culture that delivers a great employee experience is the biggest priority for job seekers, followed by salary and interesting work, reveals WorkBuzz research.

Employees are demanding more from their employers, but nothing is quite as magnetic as an attractive workplace culture, according to latest research.

WorkBuzz’s State of Employee Engagement Report 2022 reveals that 45% of UK employees and business leaders rank “a great culture” as the most important factor when looking for a new job. The research was conducted with more than 300 UK business leaders, HR professionals and employees, and drew on insights from more than 400 UK organisations. A purposefully designed culture that delivers a great employee experience is the biggest priority for job seekers, followed by salary (31 per cent) and interesting work (28 per cent) Flexible working location and opportunities for career advancement (both 27 per cent) were ranked as the fourth and fifth most important considerations “Salary will always be important but, even during a cost of living crisis, the only sustainable way to win the war for talent is by creating a strong culture that powers a great employee experience,” says Steven Frost, CEO of employee engagement expert WorkBuzz

“When people feel valued and a part of something meaningful, they have a sense of belonging and understand how they can contribute to the company’s end goals. Companies that achieve this are in a strong position when trying to attract the best people.”

“Culture is your secret weapon and its power to draw new talent shouldn’t be underestimated. Yes, pay a fair salary and provide flexible working and advancement opportunities, but if your culture is substandard, it simply won’t create…

Resume tips: How to stand out in the crowd

To make your resume stand out from a large pool of submissions, experts suggest drafting a resume unconventionally to keep it catchier and less verbose.

Sending a resume to get your dream job is not an unusual thing Acouple of months ago a woman from North Carolina, US garnered social media attention after sending her resume on an edible cake to Nike The idea to get the resume printed on the cake was an effort to approach the company in a creative way. Though her unusual effort to approach Nike for a possible job opportunity did not help her get a call from the company. Later the woman got a job as a brand strategist; consumer insights and strategy in another company.

“A creative resume goes beyond formatting, colour, or media. An unconventional resume for instance a Tiktok video highlighting your strengths works well for creative industries. It also works for banking, insurance, finance, or any traditional industry, as long as you focus on what’s in it for them and do it professionally,” says Han Kok Kwang, Career Coach Partner to JobStreet by SEEK

Besides a resume, Han suggests candidates be visible and findable by building an ecosystem of visibility on social media, including Facebook, LinkedIn, and even a personal website

As for concerns that Applicant Tracking Systems (ATS) cannot read images and creative formatting, simply avoid them You can still be creative without using boxes, logos, tables and uncommon fonts This is the essence of being creative within constraints, he suggests

To make your resume stand out from a large pool of submissions, Abhishek Agarwal, President Judge India & Global Delivery at The Judge Group, suggests drafting a resume unconventionally to keep it catchier and less verbose. “Instead of dwelling in detail about professional feats, it will showcase the skills acquired and applied.” …