LONDON–(BUSINESS WIRE)–#employeewelfare–The Coronavirus pandemic has propelled organisations to redefine what purpose means for their business.
According to global market research company Euromonitor International�s report Rethinking Sustainability: No Purpose, No Gain, one in eight businesses didnt provide sick paid leave to employees, and just 3.2% offered childcare support to their workforce, amid a global economic recession. This illustrates the need for businesses to move away from a traditional for-profit approach by putting people at the heart of their purpose.
Insights from the report show that business engagement with the Sustainable Development Goal Decent work and economic growth (SDG8) increased by 6.7% after the outbreak, the highest of all SDGs. As a result, 39% of businesses plan to invest in employee health and welfare to prevent similar public health risks, while 71% intend to expand remote working, flexible hours and promote work-life balance.
Social purpose has also been brought to the fore with Reduced inequality (SDG10) which increased by 1.4% this year, the fourth highest of all SDGs. Addressing racial inequality has become increasingly important, especially following the recent Black Lives Matter protests, and companies are working towards increasing the diversity of their workforce, comments Maria Coronado Robles, Senior Sustainability Consultant at Euromonitor International.
Focusing on the inclusion of society at large, alongside environmental concerns such as climate change, will be key to embrace a purpose driven transformation.
To access additional insights on how business purpose is becoming more humane and how social inclusion, supply chain safety and digitalisation will play a role in the future download the report Rethinking Sustainability: No Purpose, No Gain for free.
About Euromonitor International
Euromonitor International is the worlds leading provider for global business intelligence and strategic market analysis. We have more than 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
Contacts
Carol Li
Communications Executive – Euromonitor International
Tel: +44 20 8175 7847
Carol.li@euromonitor.com
ZHENGZHOU, China--(BUSINESS WIRE)--In central China’s Zhengzhou city, visiting museums has become a new trend of…
Mollie Pearce, star of the UK reality TV show ‘The Traitors’ who was diagnosed with…
QBA 2024 Announces 35 Finalists Competing for Hong Kong's Highest Honour in the Building Industry…
SINGAPORE - Media OutReach Newswire - 17 May 2024 - UXLINK, the Web3 social platform…
DUBLIN--(BUSINESS WIRE)--The "Australia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to…
Three-part podcast interview features The mechanism of action of ANKTIVA® activating NK cells, Killer T…