ESG or Environmental, Social, and Governance initiatives are redefining the business imperative, and their impact can be observed across the hiring strategy. Today, a company is more likely to win the talent war simply by announcing its focus on ESG targets.

We have seen this trend across the globe, with major Fortune 500 companies focussing on ESG initiatives. And India is rapidly catching up on the same, with major players like Tata, Wipro, and Infosys bolstering their focus on ESG initiatives, setting up dedicated teams, publishing reports, amongst others. Indian startups have also joined this race towards green talent to embrace ESG practices, thus signalling their greater commitment towards sustainability and growth to attract more confidence from investors.

That is to say, the green space literally presents itself as greener pastures for emerging leaders. Top players today are investing in carbon neutrality, community engagement, ethical sourcing, and transparency, amongst others. There hasn't been a better time for ESG talent to jump in and create a legacy by solving real-world problems. We need new thinkers, pioneers, expert communicators, and highly driven individuals to help the nation progress on its ESG initiatives and grow towards its vision of a Viksit Bharat 2047.

Given the overall environmental imperative, there is clearly growth in the ESG sector, and a collection of other regulatory and strategic factors makes it a business imperative. This includes:

• Regulatory push from all frontiers – Whether it is the PM Vision 2030 or the Viksit Bharat 2047 vision, ESG has been on the agenda for the government. The same is reflected in India's Business Responsibility and Sustainability Reporting (BRSR) framework. This regulatory initiative is a huge push for organisations to integrate Environmental, Social, and Governance roles in their hiring mandates.
• Candidates push for purpose-driven companies – With millennials and Gen Z dominating the workforce at present, there is a greater need to work with organisations that are aligned with the personal values of the workforce. Several reports claim that today's job seekers are increasingly valuing purpose over paychecks, and thus it only makes sense that organisations are evaluated on their environmentally-led sustainable initiatives.
• Top talent prefers responsible organisations – ESG is increasingly becoming a deciding factor for top leaders and talent in the field. Especially in a country like India, where ESG is still at a nascent stage and has the potential to create a huge impact, top talent is increasingly making that a priority in choosing their dream company. Top talent today values diversity hiring, accountability, and sustainable growth. Companies faring well on the ESG frontier inspire confidence among top talent.

Here's to the changing times

The writing on the wall is clear: ESG is going to define the future of the workforce. However, the shift towards an ESG workforce is not going to be as straightforward. ESG is still gaining ground in funding, but organisations are already feeling the demands of switching to and communicating sustainability initiatives. The changing times require organisations to rethink their workforce strategy, instead of simply looking at green hires.

• Most roles are going to evolve – ESG is not just another vertical integration but a completely new paradigm that is here to rewrite the business playbook. Major industry experts and consulting groups are of the opinion that as many as 25%-50% of present-day jobs will have to evolve to meet sustainability priorities. The silver lining is that this only calls for an upgrade of existing roles, instead of hiring fresh new teams and talent.
• Roadmap to upskilling – Given the nascent stage, as much as 88% of sustainability needs are accumulated in a few functions. This helps organisations come up with a better roadmap to targeted upskilling.
• There is a scarcity of specialists – In sustainability-related roles, expert positions are presently being substituted by titles that don't really convey much and often look for "similar" skillsets. This makes ESG hiring more complicated, as everyone is essentially vying for the same expert talent pool.
• Green talent is extremely mobile – The green talent space is a race that is seeing a lot of repeat runners. Talent in this space is at risk of attrition, is actively exploring new roles, and is being regularly approached with different offers. Being the perfect fit and being aligned on the vision and mission for climate impact seem to be higher on the agenda for talent in this space.

The changing times certainly belong to the emerging leaders and talent in the ESG space. A lot of traditional roles are going to shift and evolve into ESG-centric mandates. It is the perfect time for candidates to hone their technical skills while focusing on creative problem-solving, key stakeholder communication, and conflict mitigation to secure leadership spots in the green talent space.

Views expressed are personal