Integrating ESG & Climate related considerations in all business decisions not only reduces risks while enabling market opportunities, it also increases your chances of attracting and retaining talent. This is especially true for younger generations who have been exposed to these subjects and are right now hitting the job market or are already employed, as recent studies suggested.
"Gen Zs and millennials continue to demand greater climate action from their employers..." - Deloitte
Deloitte’s 2023 Gen Z and Millennial Survey, which connected with 14,483 Gen Zs and 8,373 millennials across 44 countries, provides the below insights:
The significance of climate change and environmental sustainability is steadily growing in importance for companies aiming to attract and retain talent. A striking finding indicates that over 40% of Gen Z and Millennials have already made career shifts or are planning to do so in response to climate concerns.
The survey highlights climate change as a predominant worry among Gen Z and Millennials, with nearly 60% expressing recent anxiety about environmental issues, and more than 70% actively engaged in efforts to reduce their environmental footprint.
Employee expectations are increasingly influenced by climate-related considerations, as revealed by the survey. Roughly 50% of Gen Z individuals and 46% of Millennials are actively exerting pressure on businesses to take concrete steps toward addressing climate change.
Another survey taken by Handshake, a leading early career community, reflects similar sentiments as corporate’s commitment to sustainability are among the top 6 factors that Gen Z ranks as extremely important.
What are some top actions organizations can prioritize to help fight climate change:
The conclusion?
“It is crucial for employers to understand these generations and continue to drive progress on the challenges that matter most to them. This will not only help boost productivity and retain talent—it will ultimately build trust and value for business in society more broadly.”
It is not too late to get started on climate action. Measuring your GHG emissions might be the initial step in understanding your organization’s carbon footprint. At CHS, we’ve teamed up with Breeze to help organizations of all sizes to get started. Reach out to us for more info!
References:
Deloitte 2023, 2023 Gen Z and Millennial Survey Waves of change: acknowledging progress, confronting setbacks
ESGtoday 2023, Over 40% of Gen Z, Millennials Would Switch Jobs Over Climate Concerns: Deloitte Survey
Handshake 2022, 6 things Gen Z wants from their next job
