NEW
YORK, June 18, 2024 /PRNewswire/ --
Today, Deloitte released a new report in collaboration
with independent research firm Workplace
Intelligence uncovering growing pressure for companies to
prioritize human sustainability: the degree to which an
organization creates value for people as human beings, leaving them
with greater health and well-being, stronger skills and greater
employability, good jobs, opportunities for advancement, progress
toward equity, increased belonging, and heightened connection to
purpose.
Now in its third year, the survey revealed that the majority of
the C-suite, including around 8 out of 10 CEOs, say they're feeling
pressured to make public commitments to improve human
sustainability from employees (82%), customers (78%), investors
(78%), partners (77%) and board members (77%).
Leaders are largely embracing this pressure: 88% would like
their pay to be tied to human sustainability metrics, and 71%
believe their company's leadership should change if they aren't
advancing human sustainability. Around 3 out of 4 executives agree
that human sustainability is an enterprise risk that should be
measured and monitored (73%) and discussed at the board level
(75%).
The report, "The important role of leaders in advancing
human sustainability," also reveals that doing well by workers and
the world can offer long-term benefits for both people and
organizations. However, to help companies to move their human
sustainability efforts forward and reap these benefits, leaders
should increase their understanding of worker realities at their
own organization.
Key findings from the research include:
- Eighty-two percent of executives believe their company is
advancing human sustainability, but just 56% of workers agree. In
fact, some leaders fail to recognize that for most people surveyed,
work is a negative rather than a positive force in their lives.
Around 90% of executives believe that working for their company has
a positive effect on employee well-being, skills development,
career advancement, inclusion and belonging, and their sense of
purpose and meaning. However, just 60% (or fewer) of workers
agree.
- Workforce well-being — a key component of human sustainability
— continues to need focus, but many executives may not be aligned
with what their worker sentiment reveals. Only around 1 out of 3
workers say their physical (34%), mental (32%), financial (35%) and
social (31%) well-being improved last year. However, at least 7 out
of 10 executives believe these well-being dimensions improved for
their people.
- Around 7 out of 10 workers say if their organization increased
its commitment to human sustainability, this would improve their
overall experience at work (72%) and increase their engagement and
job satisfaction (71%), productivity (70%), desire to stay with
their company long-term (70%), and trust in their company's
leadership (69%).
- Eighty-two percent of executives say companies should be
required to publicly report their human sustainability metrics.
However, 81% admit their own organization isn't doing enough when
it comes to making public commitments around human issues. Around a
third (32%) of these leaders say this is because the goals they
could realistically accomplish are trivial and they're embarrassed
to make public commitments around them.
- A significant majority of executives (88%) would like their
compensation to be tied to human sustainability metrics.
Remarkably, nearly half (47%) would like at least 75% of their
compensation to be linked to these metrics. What's more, 61% of the
C-suite say they'd accept a pay cut to work for a company that is
advancing human sustainability.
"It's promising that so many of today's leaders are willing to
take ownership of human sustainability," said Dan Schawbel, managing partner at Workplace
Intelligence. "However, some executives don't realize that their
own employees are dealing with a suboptimal work experience. The
disconnects uncovered in our research should be a call to action
for leaders as they embark on their mission to create greater value
for all stakeholders within the broader human ecosystem."
"Embracing human sustainability can have benefits for both
business and people," said Paul
Silverglate, U.S. Executive Accelerators leader and
Deloitte's US Technology Sector vice chair. "Today's C-suite has an
opportunity to help ensure it is prioritized at the highest levels
of their organizations, helping them become more rewarding and
productive places to work."
"There is an incredible momentum building for organizations to
make meaningful change," added Jen
Fisher, retired managing director at Deloitte US. "But
leaders should move away from a legacy mindset that centers on
extracting value from people and instead embrace the concept of
human sustainability, which can support the long-term, collective
well-being of individuals, organizations and society."
Research findings are based on a survey conducted by Deloitte
and Workplace Intelligence in February and March 2024 among 3,150 employees, managers and
C-level executives across the U.S., U.K., Canada and Australia. For more insights, access the full
report here.
This publication contains general information only and Deloitte
is not, by means of this publication, rendering accounting,
business, financial, investment, legal, tax, or other professional
advice or services. This publication is not a substitute for such
professional advice or services, nor should it be used as a basis
for any decision or action that may affect your business. Before
making any decision or taking any action that may affect your
business, you should consult a qualified professional advisor.
Deloitte shall not be responsible for any loss sustained by any
person who relies on this publication.
About Workplace Intelligence
Workplace Intelligence is an award-winning thought leadership and
research agency focused on the world of work. We help companies,
and their executives, tell their workplace story in a meaningful,
relevant, and impactful way using primary data, insights, and
interviews. For more information go to our website and
subscribe to our Insider newsletter.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and
advisory services to many of the world's most admired brands,
including nearly 90% of the Fortune 500® and more than 8,500
U.S.-based private companies. At Deloitte, we strive to live our
purpose of making an impact that matters by creating trust and
confidence in a more equitable society. We leverage our unique
blend of business acumen, command of technology, and strategic
technology alliances to advise our clients across industries as
they build their future. Deloitte is proud to be part of the
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years of service, our network of member firms spans more than 150
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457,000 people worldwide connect for impact at
www.deloitte.com.
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SOURCE Deloitte