“One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.”
Businesses in the past were majorly driven by the stakeholders’profits but previous two decades and recent pandemic has buffeted the business scenario worldwide to a large extent. The corporate sector irrespective of being government or private are largely expected to abide by the sound environmental practices. Businesses are now more valued on their contribution towards environmental, social, and sound business practices apart from ‘profitmaking’, giving rise to the wide applicability and acceptability of Environmental, Social and Governance (ESG) perspective. Millennials and Gen Z specially investigate the ESG credit of an organization for potential investment. This clearly indicate the urgency and quintessential requirement of the organizations to work and upgrade their ‘ESG’ score. The concept makes it mandatory to evaluate the businesses not solely on operations but from the viewpoint of their contribution towards reduction of climate change impact and ethical considerations. ESG doesn’t work on the premise of reducing profitability score, rather making a business investment more environmentally conscious. Post pandemic the focus of ESG metrics shifted heavily to ‘S’ or social aspect specifically emphasizing on workforce and broader supply chain. Given the fact that social issues at workplaces are majorly related to HR professionals, makes it imperative for the HR departments to focus on ESG whilst enhancing HR practices. HR professionals need to work on the key ESG issues like employee well-being, diversity and inclusion, talent retention, performance management and employee engagement. The conclave looks forward to the deliberations focusing this aspect of workforce management whilst maintaining the credibility of ESG.