ESG (Environmental, Social, and Governance), has been a key focus for companies over the past twenty years. A company’s social capital has implications for its potential workforce, customers, and investors.
Companies have felt more pressure to improve their ESG scores over the past years. This is partly due to a growing acceptance of climate change worldwide and the impact it has had on investments.
There are many ways companies can improve their ESG score. The most important thing is the industry and branch in which they operate. The common factor that all companies have in common is their workplace. These are some stats, insights, and tips that will help you optimize your workplace ESG efforts.
The environment aspect
First, let’s talk about the pandemic. This has been a major topic for quite some time. Undoubtedly, fewer people worked in central offices during the peak of the pandemic. This is a strong correlation with the amount and whereabouts of energy consumed during this peak.
The US’s second quarter 2020 saw commercial real estate use 12% less energy than the previous year. This means that companies need to abandon office real estate in order to be more eco-friendly. Not quite. However, residential real estate’s energy consumption increased by 10% during the same time. This raises the question as to whether commercial real estate has optimized its energy use.
What did companies do if an office floor was required to house a skeleton staff that worked remotely? Does it make a significant difference in energy consumption? The technology is there to make it happen, at the most.
Modern workspace management systems can be integrated with HVAC systems to control energy consumption based upon occupancy. This is a good feature, especially as energy prices rise.
The social side
ESG’s second element is its social dimension. How can you make the workplace more pleasant for employees and stakeholders? It makes sense from many perspectives to help people (re-)connect in the office. It has been shown that loneliness can reduce productivity and lead to burnout or other stress-related absenteeism.
From a business perspective, facilitating productive collaboration is also a benefit. This is particularly true if you have hybrid work. Your employees should be able and willing to perform the tasks they have been assigned when they arrive at work. It is easy to avoid the problem of not finding the right people. A booking system, such as Signature Workspace, is often used to not only find a desk to use but also to see if colleagues have booked a desk, so that you can collaborate better.
A booking system also helps build employer branding. You can give your employees and prospective hires tools that simplify hybrid work and show them you value their time. This is a great tool for the battle for talent.
The governance element
Although this last part of ESG is often overlooked by the first two, it is just as important for a company’s growth and success. What policies are you implementing and how transparent are they? What are your data security measures?
Advanced workspace management software, like the two previous parts of ESG can help companies optimize their governance. Automating your workspace policies, such as how many days each team can enter the office and which areas they have access to, the number of employees allowed in the office at one time, can be made easy. These policies are especially important in medical emergencies like the COVID-19 pandemic.
You can also keep GDPR-proof, highly secured data about how your offices are used. This data can be used to help management spot potential problems early and to make data-backed decisions about how to improve their offices to meet the needs of their employees and other stakeholders.
Learn more about Signature Workspace’s management software. To discuss how their software can help your ESG goals, book a free appointment with one of their platform experts.
This post was written by Tara Kintz. Tara is a director at Signature Workspace which is an office space for rent Wesley Chapel FL. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.