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Home Business Insights Strategies and Tactics

Why leaders must invest in employee upskilling for sustainability

Arra Czarina Igno by Arra Czarina Igno
November 16, 2023
Photo by fauxels: https://www.pexels.com/photo/group-of-people-standing-indoors-3184396/

Photo by fauxels: https://www.pexels.com/photo/group-of-people-standing-indoors-3184396/

In the bid to keep up with the sustainability shifts, finance leaders must look into upskilling employees to rise to the challenge.

In a study by Bain & Company, it was found that 75% of business leaders believe they have not embedded sustainability well into their business.

This include a lack of initiative in developing talent as the instinct of many organisation leaders is to prioritise external hiring to address all skill gaps, including in sustainability.

Bain said it is important that leaders must address sustainability’s challenges through a combination of smart upskilling and cultivating a learning mindset among its employees.

Further, the survey of 4,700 people found that 63% felt different skills and behaviours would be required for their company to execute on its ambition or strategy on environmental, social, and governance (ESG), yet only 45% of non-managers said their employer offers the reskilling and upskilling opportunities that would enable internal mobility.

Despite almost every leader saying they have a talent problem, few companies have defined what it means to be a great employer.

In Bain’s recent survey, 44% of respondents revealed it is easier to find a better opportunity outside of their company than within it.

Related:  How GenAI can aid in finance transformation
Tags: Bain & CompanyCFO strategyESGsustainabilityupskilling
Arra Czarina Igno

Arra Czarina Igno

Arra Czarina Igno is an experienced News Writer with a demonstrated history of working in the financial services industry. She is a media and communication professional with a Bachelor’s Degree focused in Broadcast Communication from Polytechnic University of the Philippines.

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