Beyond D&I: when your ESG priorities collide with an HR crisis
Traditionally, the focus on the ‘social pillar’ of ESG has been on an organisation’s approach to diversity and inclusion (D&I), but increasingly companies and their stakeholders are looking more broadly at how organisations treat their people and whether they are fostering a positive workplace culture, encouraging employee engagement and openness. Investors and regulators see this as a key focus area, which directly impacts the underlying safety and sustainability of a business, both in terms of core strategy, but also in light of the ever-increasing risk of poor workplace culture resulting in scandals which are played out in the public eye and can have significant repercussions for organisations and their wider industries.
These “HR crises” may arise out of a range of situations, including high profile one-off allegations of inappropriate behaviour by senior staff, but also from allegations of wider organisational failings fostering cultures of, for example, bullying and harassment or mistreatment of whistleblowers. How organisations deal with these situations when they do arise brings their commitment to their ESG values into sharp focus.
This article, part of our Healthy Horizons guide to doing business responsibly in Life Sciences & Healthcare outlines some key considerations for employers operating in this sector to help manage risk and maintain ESG credibility and integrity when handling HR crises.
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