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There is a scarcity of sustainability talent in workplace

sustainability talent

Scarcity of Sustainability talent in workplace

Sustainability talent – Given the worries about climate change and the shift to a green economy, the need for sustainability professionals has skyrocketed. As a result, there is a talent shortage in the business. 
 
Russell Reynolds Associates (RRA), a management consulting firm, recently completed a review of Asia’s sustainability talent market. The ‘head of sustainability’ post is getting bigger in scope and more senior in profile, according to the study. 
 
According to Khushboo Kumra, a consultant at RRA, as senior sustainability expertise becomes harder to come by, remuneration has increased in recent years to course-correct existing pay packages. “In organizations, sustainability talent is slowly rising through the ranks, owing to the requirement to assure accountability for results and alignment with business executives. As a result, we’ve seen firms reduce remuneration by 15-20%,” Kumra said. 
 
Given that activities in this field have a longer lead time to impact, sustainability talent is “sticky” in organizations. As a result, companies must pay a premium to recruit people from other companies, according to Kumra. She went on to say that RRA recently experienced a 55-60% rise in salary for a chief sustainability officer due to the aforementioned causes. 
 
“Given that this (sustainable) is a significant priority area for the organization, we have recruited individuals in this domain with competitive salary benchmarked to industry standards,” ITC’s corporate HR chief Amitav Mukherji said. Madhulika Sharma, ITC’s new chief sustainability officer (CSO), has recently joined the firm following a long career with Tata Steel.

Sustainability talent

According to Kumra, a prominent Indian steel producer established a sustainability leadership curriculum to assist top C-Suite executives in comprehending the complex difficulties posed by changing business landscapes. It also emphasised the importance of embedding sustainability as a company strategy. 

“Today, there is an urgent need for a new form of leadership – one that prioritizes sustainability by ensuring that all company activities are respectful of planetary boundaries,” L’Oreal India director (HR) Roshni Wadhwa stated. Sustainability has become the guiding principle in the post-pandemic world as corporations create their business recovery strategies to demonstrate future-readiness, attract new investors and talent, and establish brand equity among customers. 
 
Currently, there is a talent scarcity for sustainability leaders at the top, rather than in middle management, where there are still employees migrating to sustainability. “Only recently has sustainability become a more thorough topic for corporations to consider. Previously, CSR (corporate social responsibility) was a tiny area of concentration for businesses, but it was unable to recruit and maintain engaging talent. We have seen folks choose a career in sustainability more actively today as a result of the shift in mindset and the mandates under sustainability becoming more comprehensive,” Kumra added. 

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