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ESG refers to business leader’s focus on Environmental, Social and Corporate Governance in relation to their long-term plans. What can a focus on ESG mean to your business or profitability, and how can companies use employee engagement tactics to further the cause?

ESG refers to business leader’s focus on Environmental, Social and Corporate Governance in relation to their long-term plans. What can a focus on ESG mean to your business or profitability?

Environmental, social, and governance (ESG) criteria are an increasingly popular way for all stakeholders, not just investors, to evaluate companies. Many mutual funds, brokerage firms, and robot-advisors now offer products that employ ESG criteria. ESG criteria can also help investors, employees, contractors, and others avoid companies that might pose a greater overall risk due to their environmental or other practices. What can ESG criteria mean for your business?

Companies with defined incentive, reward and recognition programs enjoy a higher market share, lower turnover rates, a more highly engaged workforce, higher productivity and a host of additional benefits, so it makes sense that an increasing number of companies are turning to these programs. But very few company leaders know which reward vehicles work best, understand the legal tax and regulatory issues involved, or employ staff with relevant experience to properly design programs. Yet, despite this, many still attempt to do so using in-house resources.

Although employee engagement has been a priority for many organizations, only 32% of U.S. workers are engaged in their work, according to a Gallup study. Because companies with higher employee engagement outperform their competitors by over 200%, this is increasingly important. Earlier this month we discussed signs of a negative workplace. Here we’ll discuss how to build a culture of recognition that leads to higher employee engagement.

If you build it, they will come, right? Not necessarily. Proper program design and branding will ensure that your incentive programs are effective and will deliver a higher return on your investment, but make sure that you don’t underestimate the role of communication in employee recognition programs.

National Employee Appreciation Day is March 2, 2018, and many companies will do something special for their employees. The company leaders may bring in lunch or managers may plan a celebration or provide each employee with a small gift. Those of us in the corporate incentive, reward and recognition world realize that showing employees appreciation is not a one-time event.