By aCube Solution Limited (Sponsored Feature)
It is beyond dispute that public awareness of Environmental, Social and Governance (ESG) has grown significantly in recent years, which prompts the demand for ESG initiatives in the workplace. When it comes to taking ESG factors into account in management and decision-making processes, HR professionals have a leading role to play in ESG, in particular, the “S” aspect – with the use of cloud computing and a data-driven approach – to drive sustainable human capital development.
The social (“S”) pillar of ESG relates to how an organization supports and impacts various stakeholders, including its employees, customers, investors and the wider communities. HR leaders are responsible for addressing ESG issues related to people, such as driving Diversity, Equity and Inclusion (DEI) in the workplace, enhancing employees’ well-being and satisfaction, attracting and retaining talent, developing sustainable and ethical business practices, becoming more socially conscious, and so on, in a bid to enhance the resilience and support the long-term success of their companies. What is more important is that HR leaders are expected to show tangible and trackable results for their ESG initiatives as today’s stakeholders and shareholders alike demand transparency in reporting ESG metrics.
Optimizing ESG Reporting with Cloud HRMS
Every HR team should be able to tell their company’s story through ESG reporting. The “S’’ in ESG, however, is relatively challenging to be tracked and measured. Fortunately, HR professionals can adopt cloud computing – a robust and innovative Cloud HRMS (Human Resources Management System) – to automate and streamline the process of collecting, analyzing, and reporting on ESG activities seamlessly on a long-term basis. A Cloud HRMS can help you:
1. Track, analyze and report on DEI efforts
A Cloud HRMS can help your HR team set measurable DEI targets such as budget allocation, employee participation in initiatives and retention of a diverse workforce, then track, analyze and report on your company’s DEI performance with accurate data.
2. Build a seamless hybrid work environment
Hybrid working has become the new normal. Implementing cloud-based solutions allows your workforce to accomplish their work seamlessly from any location. Not only can it improve your employees’ well-being, but it also can attract and retain talent, and reduce carbon footprints.
3. Gain greater insights into ESG performance
There is no doubt that ESG reporting is data-driven. A Cloud HRMS collects accurate data, makes use of these data, and provides a holistic insight into your ESG performance.
4. Create comprehensive employee profiles
Knowing your employees well is key to success in workforce development and employee satisfaction. You can create a comprehensive profile for every employee containing their remuneration package, skills, training records and special requirements on a Cloud HRMS that allows authorized parties to access it whenever they need to. Not only can you manage human resources effectively, but you also can communicate with your workforce efficiently to enhance employee satisfaction and improve employee engagement in ESG.
ESG always goes hand in hand with digital transformation. Integrating ESG factors along with the use of a Cloud HRMS into human capital management (HCM) can help optimize your ESG reports and improve your ESG performance, so your company can thrive and grow – win the war for talent, retain top talent, and build an ethical and hybrid workplace. Last but not least, keep in mind that ESG regulations and disclosure requirements are rapidly evolving, which requires you to keep abreast of the latest ESG trends.