Goodbye to ESG, Hello to ESHG (environmental, social, HEALTH & governance).
“Alarm bells are ringing in the wake of the Intergovernmental Panel on Climate Change’s recent report, which sounded a “code red for humanity.” Scientists’ predictions for climate impact on our global ecosystems and livelihoods are startling.” At the same time the world’s trajectory of healthcare spending towards the “Big D” conditions (diabetes, depression, and dementia) are at new alarming levels.
These realities have brought on new Board room agendas across the globe with strategic discussions about a new acronym brought by public demand for greater good and deeper employee led impact-ESHG (environmental, social, HEALTH & governance). On a deeper level Employee Resource Groups (ERGs) are emerging around Environment, Wellbeing and other world-changing topics. As we speak, these ERGs or employee teams are actively forming company cultures around the globe and it’s for greater good (not for more perks, PTO or extra personal benefits).
According to the CDC:
- Even pre-pandemic, the costs of poor health were huge, both on human life and productivity. “For most companies, public health lags behind the climate component of ESG initiatives. But it’s beginning to change (Forbes).”
- At MaximusLife, we’ve been building tools at the intersection of ESHG since 2014 and we’re hearing a new sense of urgency for teams of all sizes. Some teams have been touching on ‘E’ Environmental issues for some time, but are only recently truly hitting the ‘S’ Social side. Others have been doing once-a-year events around ESG and they now through ERGs are seeing employees want more year-round support.
- For teams new to the ‘H’ side who have never tacked employee or customer Health related to their brand they tend to hesitate in strategy sessions not knowing where to begin. We always advise the first starting point is your own employees Health and Wellbeing.
Introduce ESHG with HOLISTIC PURPOSE
A survey of global corporate executives showed that more than 80% believe shared purpose leads to greater employee satisfaction, customer loyalty, and higher-quality products and services.
Another set of research run since 1990’s has proven higher profits for organizations with wellbeing programs.
Why provide one without the other? The evidence begs the question of why teams create silos of such impactful areas for employees and customers. Enter ESHG, which stands to be the connecting point for a holistic approach we’ve seen coming since early 2000s for innovative brands.
Encouragingly, recent research suggests that companies are becoming aware of this at the highest levels of leadership. Many teams improve this by offering healthier cafeteria food, gym memberships, or well-being services. Companies are better off when they prevent physical and mental health issues from occurring, rather than controlling the costs of absenteeism and health care later on.
Where to Start with ESHG?
One way to begin building “holistic purpose” within your company through ESHG, with all that is happening in the world, is to connect your employees while many are working from home. Your team’s mental wellbeing and health are pivotal now more than ever.
We have built out a mobile and web platform for your company to connect via ESHG challenges.
In today’s age of one-click activation, modern technology has made ESHG launch easier with a big thanks to content from organizations like health.com and many others dedicated to individual health activation & motivation.
Challenges are proven to be the most simple and fun way to start introducing this content.
A step challenge for example is one simple way to start your ESHG journey because employees can get out and stay active while connecting to branded world-change for good.
As a second equally important step, companies should also measure the impact of their goods or services on customers’ health. “Organizations should self-regulate before government regulators step in with product bans or punitive taxes. They should rethink how they source their materials, determining whether any partners in their supply chains are involved in activities that might harm consumers’ health.” (Forbes-Wilson).