Corporates Should Disclose More Workforce Information
While public companies worldwide have tended to put increasing emphasis on enhancing performance in ESG factors, in general terms greater focus has been put on the environment and governance side. Not until recent years does society place more stress on social factors, with one emerging trend being disclosure of information about the workforce.
Large-scaled companies have already made their first steps towards the goal. For example, British tea company Twinings have recently released a list of all plantations in India that supply their source. Simultaneously, investors (including private and organizational) are also demanding more information regarding what work environment has been given to employees by their investee companies. They would hope for better transparency from these corporates, in order to evaluate how companies are treating their most important assets – their staff. When investors hold more information about the businesses and their operations, they would also have greater confidence and eventually the biggest beneficiary will be the companies themselves.
On the other side, from the viewpoint of current and potential employees (in particular the young generation who is going to enter the workforce very soon), work environment and culture are two aspects as important as renumeration when they consider whether to accept a job offer. In short, increased disclosure about workforce information will catalyze both external and internal benefits.
Image source: Pixabay