An overwhelming majority (97%) of knowledge workers in India expect action from businesses on issues related to the environment, health & wellbeing, the economy, technology, human rights and equality, and 82% believe businesses should be just as concerned with their social impact as they are with their financial performance. These are the findings of a research, commissioned by Atlassian Corporation and undertaken by PwC Australia with support from PwC India. 

Crucially, there are high risks if an employer’s actions don’t align with the values held by their employees, according to the Return on Action research.

Half (50%) of knowledge workers would go so far as quit their job or start looking for employment elsewhere as a result of value misalignment – this increases to 51% amongst Millennials, the core workforce, and 53% of women knowledge workers who are also more likely to admit feeling pressure from their employer to support causes they don’t believe in. 

The survey was conducted among 2,406 knowledge workers across a range of states, industries, and demographics in India. 

It also highlights that there is a danger of a negative impact on workplace culture, performance, and organizational reputation if employer and employees’ values do not align. Nearly half (49%) would discuss discontent with their colleagues and over one-third (34%) with people outside of their organisation, while 43% would be “disengaged” at work. Discontent manifests differently across genders, with men more likely to discuss their grievances with colleagues, while women are more likely to consider an alternative job role with lower pay and fewer benefits, despite the current challenging economic environment. 

Consultation is key (and reaps rewards) 

Jessica Hyman, Head of Sustainability, Atlassian said, “Our inaugural Return on Action research in India sends a clear message to businesses that speaking up and acting on social and environmental issue is non-negotiable. It’s no longer a decision on whether to act, it’s a matter of how.” 

“But before making that leap, the research highlights the crucial need for businesses to consult with their employees from the outset, with over three-quarters (83%) of knowledge workers wanting to have a say in the societal issues their employer acts on. From here, businesses must determine its approach in a way that aligns with both employee values and its business strategy.” 

The business case for considered action is clear with the research revealing a strong correlation between satisfaction with the actions of an employer and overall job satisfaction, which is crucial for employee retention and attracting talent in an increasingly competitive market. 

Issues where employees demand action 

As India leads the G20 Summit Presidency for 2023, there is a huge focus on digital transformation, sustainability and equitable growth for all, and these themes are mirrored in the Return on Action findings. 

A large proportion of Indian knowledge workers consider businesses to be primarily responsible for addressing issues relating to technology, the economy and the environment, and hold high expectations for businesses to do even more. 

Technology: Companies looking to compete in technologies like AI, Machine Learning and cloud have a big opportunity to prove they are adopting these technologies responsibly.Almost one-third (31%) of respondents agree that businesses have the primary responsibility for addressing issues related to technology pertaining to digital privacy, responsible use of technology and data and digital infrastructure, even more so than the government (18%). When asked the top issues businesses should act on, technology issues topped the list across all age demographics – specifically, digital privacy for Gen Z (86%) and Millennials (84%), responsible use of data for Gen X (88%) and digital infrastructure for Baby Boomers (91%). 

The environment: According to the 2022 World Air Quality Report, India was eighth globally in its rankings of PM2.5 concentration, i.e. harmful air pollutants, and 12 of the 15 most polluted cities in Central and South Asia are in India. Atlassian’s study found environmental pollution placed at the highest relative importance by respondents. 89% agree businesses need to do more in addressing waste and pollution, and 87% agree they should take full responsibility for their environmental impact e.g. renewable energy and zero waste. 

The economy: Over half (56%) of knowledge workers believe issues related to the economy, such as unemployment, corruption and poverty, are more important now compared to the past 12 months, and 43% believe businesses need to do more to address these issues. In the current economic environment, unemployment ranked fourth in relative importance of social issues overall. 

Empowering employees 

“There are many ways a business can demonstrate to employees its commitment to an issue, from setting public facing goals, reporting out progress against them, investing in external partnerships and advocating for critical policy,”Jessica Hyman added. “But above all, knowledge workers expressed a desire to be empowered to take action themselves, such as through education programs or opportunities for fundraising or volunteering. This is a powerful way for businesses to work alongside their employees creating the time, space and support for them to lead the change they want to see, rather than dictating the path ahead.”

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ESG (environmental, social and governance) has moved beyond just ticking a box to an enabler of business value. IDC predicts that, by 2024, 30 percent of organizations will advance their ESG metrics and data management beyond reporting capabilities to generate sustainably driven cost and competitive advantages. That is not a huge number, yet it’s a significant percentage. 

Nevertheless, there are several challenges that hamper organizations’ ESG efforts from progressing to the next level and bringing real value. Data, according to reports, is one of those key challenges.

A new global IBM Institute for Business Value (IBV) study, “The ESG ultimatum: Profit or perish,” of executives and consumers reveals that while an increased focus on environmental sustainability remains a top priority for consumers and business executives, inadequate data is a key challenge for both groups when it comes to achieving personal and corporate ESG goals. This is despite the encouraging fact that 76% of surveyed executives saying ESG is central to their business strategy. 

41 percent of executives in the survey point to inadequate data as the biggest obstacle to their ESG progress, followed by regulatory barriers (39%), inconsistent standards (37%) and inadequate skills (36%). Without the ability to access, analyze and understand ESG data, companies struggle to deliver greater transparency to the consumer – a key stakeholder – and meet consumer expectations. 

This also explains why a whopping 95 percent of surveyed executives say their organizations have developed ESG propositions; however, only 10 percent say that their organizations have made significant progress against them. Almost 3 in 4 surveyed executives (73%) say their organizations struggle to manage an overload of manual data, while 7 in 10 say they have difficulty consolidating or manipulating data. 

How ESG leaders address the data overload 

The study highlights ESG leaders, a sub-set of respondents with greater maturity in operationalizing ESG, who are seeing higher revenue, improved profitability, deeper customer engagement by approaching ESG as a transparency play that creates strategic business opportunities. These role models provide a roadmap for organizations looking to overcome data-related challenges and create sustainable change that includes: automating ESG processes and reporting capabilities to keep data current; tapping AI for enhanced insights into performance, forward looking analysis, and scenario development; aligning with ecosystem partners on ESG metric definitions and standards; and proactively establishing ESG data governance principles with stakeholders.

“Data is the lifeblood of ESG. Now is the time for enterprises to act. By operationalizing ESG plans, enterprises are putting information in the hands of operators who can make informed business decisions that can improve their ESG impact on a daily basis,” said Jonathan Wright, Global Managing Partner Sustainability Services and Global Business Transformation, IBM Consulting. “Organizations looking to increase stakeholder support and meet ESG reporting requirements should implement a sustainability roadmap that is inclusive of technologies, services and ecosystem partners that can position them for greater business success and help them address regulatory compliance,” said Wright.

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