ESG
Europe Fintech for Good

UK Workplaces Are Failing To Meet ESG Expectations; Finds Latest YuLife and YouGov Report

Less than half of UK working adults think that their workplace is making a positive impact on society and the planet.

This is according to the latest report from YuLife and YouGov, which surveyed 2093 UK adults in regards to their attitudes to environmental and social initiatives in the workplace.

Only 39 per cent of respondents agreed that their workplace is actively generating a positive impact on both the environment and society.

As previously investigated by The Fintech Times, environmental and social initiatives can have a significant impact on wellbeing in the workplace.

Workplaces have increasingly embraced environmental, social, and corporate governance (ESG) initiatives as a means of boosting employee engagement and standing out from their competitors.

With businesses increasing their investment in ESG in recent years, the report now sheds light on what the people working for these businesses want and expect from their workplaces.

According to the report:

  • Sixty-six per cent of UK working adults, including 73 per cent of women, agree that volunteering positively impacts wellbeing.
  • Fifty-two per cent feel that it would enhance their sense of wellbeing if their employer took them away from work to volunteer on a regular, fixed basis.
  • Fifty-three per cent agree that they are more likely to volunteer for causes if their workplace arranged it for them.
  • Forty-two per cent say that they are more likely to work for a company with environmental initiatives than one without.
  • Thirty-seven per cent would steer clear from working for a company with poor green credentials.

The report finds that many UK employees consider ESG initiatives to be an important factor in their choice of workplace. Despite this, the finding that less than half of all employees agree that their workplace makes a positive impact on society and the planet demonstrates that many employers need to bolster their ESG offerings.

When asked to imagine working for a company that is investing in causes to tackle climate change and environmental issues 62 per cent of working adults agree it would make them think more positively about their company.

Sammy Rubin, CEO and founder of YuLife
Sammy Rubin

“In the wake of the ‘Great Resignation’, employees are increasingly conscious about choosing a workplace which best fits their needs, preferences and priorities,” said Sammy Rubin, CEO and founder of YuLife.

“This survey clearly demonstrates that large numbers of UK employees want to work in an environment which makes a positive difference to society, but employers still have some way to go in order to respond to employee demand on this issue.

“With many companies’ budgets now tightening, it’s especially important that businesses don’t lose sight of this vital need, and ensure that ESG expenditure is well-matched to employees’ expectations.”

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

Related posts

Study Finds 96% of Businesses Have Had Outstanding Payments for 10+ Days During COVID-19

Polly Jean Harrison

The Translation People on Translation’s Key Role in Growing the Global Fintech Industry

Polly Jean Harrison

Crypto Authorisation Completes Fasset’s EU Expansion

Francis Bignell