Companies in Slovakia face a lack of skilled workers, high fluctuation or growing claims of employees, In particular, young people expect not only a competitive salary, but also corporate sustainability from their employers. This year, ESG strategies (environmental, social and management) will be one of the decisive factors that can help companies get new talents. This was reported by ESG club representatives.
“There are more than two million people in employment in Slovakia, so the changes that the ESG brings to the labor market is influenced by the whole economy. Although ESG has so far dominated environmental topics, its social dimension is rapidly gaining importance. Transparency in remuneration, diversity and inclusion, protection against discrimination or workplace safety There are only some of the ESG social indicators that companies have to manage after a new strategically, “the club’s representatives said, saying that companies are obliged to prepare ESG reports since this year, where they must also mention gender remuneration differences.
Creating this ESG message can put pressure on higher wages in the economy, as job seekers will be able to compare the conditions in individual companies and decide where they want to work. František Gajdoš, Vice President of the Confederation of Trade Unions (KOZ), assumes that the ESG report will become a strong argumentation tool within future collective bargaining as it will allow Comparison of working conditions within a specific sector or region.
From the point of view of the attractiveness of the company for employees, according to Jana Sapáková from the law firm Eversheds Sutherland, the company will be able to manage its social policies and gain new talents. However, they should not slip into the embankment of an image of their business, which is far from reality.
Without ESG strategy, according to club officials, enterprises can lose employees. At present, when they leave the trained workers, they incur costs of six to nine monthly payments to the departed employee related to the organization of the selection procedure or the training of a new colleague. This could be avoided by companies thanks to the ESG strategy, which can affect people’s decision -making in choosing the employer as well as their subsequent loyalty to the company. Sustainability is a factor for up to 66 % of employees why they would consider changing employment, 14 % would even leave work if the employer ignored sustainable principles.
“According to the European Commission estimates, approximately 50,000 European companies will directly affect the ESG’s obligations in 2025. Nevertheless, only 42 % of them are considered to be prepared for these changes,” closed.
