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92% of employees in the Middle East are more likely to stay with their employers if total rewards were enhanced, compared to 77% of respondents who were likely to stay if overall ESG practices were enhanced.
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Understanding employee sentiments and designing a personalized approach can foster a sense of inclusion, empowering them to actively contribute to achieving sustainability goals.
Dubai, UAE, August 5, 2024: The Middle East findings of PwC’s first global workforce ESG preferences study 2024 reveal a significant disconnect between companies’ focus on environmental, social, and governance (ESG) initiatives and the actual priorities of employees in the region. The study shows that while businesses are prioritizing sustainability, employees are more focused on personal benefits, such as fair pay and career advancement.
The survey indicates that 92% of respondents would likely remain with their employers if total rewards were enhanced, compared to 77% who would stay if overall ESG practices were improved. This gap underscores the challenge for organizations in aligning their sustainability goals with employee priorities, potentially impacting their long-term business viability and growth.
Despite this apparent disconnect, the report also indicates that enhancing current ESG policies and practices can significantly improve employee retention. According to the study, the proportion of employees “likely” and “very likely” to stay increases to 82% from 77%, while those “unlikely” and “very unlikely” drop to 3% from 6% when ESG policies are enhanced.
This finding is crucial as it suggests that even though competitive pay and equitable practices are essential for retaining top talent, integrating ESG elements throughout the employee lifecycle and into organizational culture can create a more conscious, engaged, and motivated workforce. This, in turn, can lead to better ESG outcomes for the organization and society at large.
Khaled Bin Braik, Consulting Partner and Emiratization Leader, PwC Middle East, said: “ESG is an emotive topic, and employees respond to it differently and engage at varying levels. Understanding these sentiments and designing personalized approaches can ensure that employees feel included and play an active role in achieving sustainability goals. This goes beyond just ticking boxes; it’s about creating a work environment where employees feel valued and connected to the organization’s mission. It’s about embedding ESG into the company culture so employees see themselves as integral to the sustainability agenda and feel empowered to contribute meaningfully.”
Furthermore, the study recommends that employers adapt personalized approaches to effectively engage their workforce and make ESG a shared priority. It also introduces four ESG employee personas, providing insights into how organizations can tailor their ESG strategies to engage each persona effectively.
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