Offer financial rewards or recognition for employees who participate in company- sponsored environmental programs. Following the environmental footprint of Microsoft , provide subsidies or bonuses for employees who use public transportation, carpool, or purchase electric vehicles. Promote remote work to reduce the environmental impact of daily commuting and offer stipends for home office setups that include energy-efficient equipment. 2. Social Aspects: Organisations are increasingly focused on ensuring fair compensation for all employees, recognising that this is a key part of the social criteria of ESG. This involves not only hiring diverse talent but also ensuring equitable pay across different demographics and benefits that support work-life balance. Companies such as Johnson & Johnson
Organisations are increasingly focused on ensuring fair compensation for all employees, recognising that this is a key part of the social criteria of ESG. This involves not only hiring diverse talent but also ensuring equitable pay across different demographics and benefits that support work-life balance.
have established clear diversity goals within their workforce and 85% of their employees have said they have an inclusive work environment. To influence payroll practices through fair wages and pay equity, companies can observe the following: Conduct regular audits to check if wages are fair and address any gender or racial pay gaps. Implement transparent pay structures that promote equity and fairness. Integrate wellness programs into payroll systems, such as offering gym memberships and programs to mental
health support as incentives. Ensure that all teams uphold diverse principles and show no signs of discrimination. Offer benefits that cater to diverse employee needs such as parental leave, flexible working hours etc. 3. Governance Aspects: The Governance part of ESG deals with leadership, audits, internal controls, and shareholder rights. This aspect ensures that payroll practices leave a positive impact. For integrating Governance, the following practices can be undertaken:
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ISSUE 9 GLOBAL PAYROLL MAGAZINE
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