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No business owner wants a business that won’t last. Yet, sustainability requires much more than hard work and simply “hanging in there.” Corporate sustainability includes considerations for environmental, social, and governmental concerns. It means creating long-term value for all stakeholders by balancing what some people call the Triple Bottom Line—people, profit, and the planet. It means using systems thinking and problem-solving, using analytics to identify relationships between recruiting, hiring, onboarding, coaching, and performance management to optimize human performance. It also means providing equity for users of the planet, including the factors of diversity, equity, and inclusion. Read on to find out more.
Why it is Important to Have a Sustainability Strategy
Having a corporate sustainability strategy adds brand value and competitive advantage. More employees these days prefer companies that have a meaningful sustainability strategy. Nielsen studies have shown that 66 percent of consumers prefer products that come from sustainable brands. Studies by Mckinsey indicate that a sustainable strategy can significantly reduce costs and improve operating profits. Sustainable actions can attract talent, and sustainability efforts open new business opportunities.
How Does Human Capital Management (HCM) Help with Sustainability?
It is interesting to know that 90 percent of the S&P market value is in “intangibles” including brand value, goodwill, research and development, innovation, and intellectual property. All of these are people generated. Thus, HCM provides these sustainability benefits:
- It helps to unlock the value of what human talent contributes to the business. It helps link human performance to higher levels of engagement and resilience.
- It helps improve the trust that consumers, investors, and all stakeholders have in the business.
- It measures the metrics that help align a business’s outcomes with its goals and major challenges.
- It helps a business align itself with its broader social responsibility needs including the important needs and actions to achieve diversity, equity, and inclusion.
- It helps engage stakeholders to provide better governance and execution capabilities.
- It promotes a better environment for collaboration and team building.
What Can DataTerrain Do to Help with Business Sustainability Goals?
Data Terrain’s experts can design and deliver HR functional reports that can assist with critical functions including payroll, talent acquisition, and workforce analytics. We can use our HCM cloud applications to identify top performers, what motivates them, and which employees may be at risk of leaving. We can track and analyze all HR data and events. With our state of the art cloud based Business Intelligence Support, we have aided the sustainability goals of businesses and clients across the globe. You can see testimonials from our partners on our customer stories page.
Seek Superior HCM Assistance to Meet Sustainability Goals
DataTerrain provides cloud-based Human Capital Management (HCM) capabilities with integrated BI Tools that support core HR, payroll workers compensation, tax, talent management, performance management, collaboration, workforce analytics and HR compliance. Contact DataTerrain here. We use proven automation technology to provide optimum HR and HCM results. Our real-time analytics and reporting drive business results that are trusted by over 250 customers across North America.