Manpower®Experis®TalentSolutionsGlobalInsightsTheGreeningWorldofWork#1GREENBUSINESSTRANSFORMATION70%GLOBALLY,OF94%OFEMPLOYERSSAYTHEYDON’TWILLBETOPJOBCREATOREMPLOYERSARECURRENTLYORHAVETHETALENTTHEYNEEDTOINNEXTFIVEYEARSACTIVELYPLANNINGTORECRUITACHIEVETHEIRESGGOALSFORGREENJOBS&SKILLS1INTRODUCTIONCONCLUSIONContentsTRENDONETRENDTWOTRENDTHREETRENDFOURTRENDFIVETalkingAboutGreenGiantGettingGreenTechTheNewCollarMyGreenGovernmentSeriousAdoptionofWorkisGreenGenerationaboutESGActionAccelerating2INTRODUCTIONTheglobaltransitiontoamoresustainableeconomyisacceleratingdespiteyearsofrecentdisruptionandTRENDONEuncertainty.SustainabilityandcorporatesocialresponsibilityareincreasinglyimportanttoconsumersaroundtheTRENDTWOworld,particularlyGenZ.Injustafewyears,adoptionofEnvironmental,Social&Governance(ESG)goalshasTRENDTHREEevolvedfromadifferentiatorforasmallgroupoflargecompaniestoamorewidelyexpectedstandardofglobalTRENDFOURbusinessbestpractices.TRENDFIVECONCLUSIONThefoundationofthisglobalgreenbusinesstransformationisaskilledandinnovativeworkforce.ThisManpowerGroupGlobalInsightsreportexaminesthetoptrendsbusinessleadersshouldconsiderastheyconsiderthefutureofworkandthegreeneconomy.•Whatarethekeydriversoftheglobalgreenbusinesstransformation?•WhatcanbusinessleadersdotoacceleratetheirESGperformanceandcompetitiveadvantageinthemarket?•Howcanbusinessesfuture-prooftheiroperationsbyembracingthetransitiontoagreeneconomy?•Howwillthesetrendsimpactworkforceplanningandworkers?3INTRODUCTIONTalkingAboutMy49%TRENDONEGreenGenerationTRENDTWONEARLYHALFOFGLOBALCONSUMERSTRENDTHREEThegreentransitionisgainingmomentumwithconsumers,andglobalbusinessleadersarepayingHAVEPAIDMOREFORASUSTAINABLETRENDFOURattention.Contrarytopopularopinion,thisgreenpreferenceisnotjustlimitedtoyoungerconsumers.TRENDFIVEAcrossallgenerations,thereisagrowingpreferenceandexpectationformoresustainableproducts.InPRODUCTINTHEPASTYEAR1CONCLUSIONaddition,recentdatashowsthatamajorityofconsumersarewillingtopayapremiumforsustainability.SustainablebrandleadershipisalsoshowntohaveapositiveimpactonemployeerecruitingandretentionWorkforceImplications:efforts,creatingfurtheropportunitiesforcompetitivedifferentiation.•Underscoresimportanceofroles•MoreImportanttoConsumersAcrossGenerations:Morethanhalfofglobalconsumers(51%)acrossacrossfunctionsrelatedtogreenagegroupssaysustainabilityismoreimportanttothemthanitwas12monthsago.Inaddition,nearlyproductsandsolutions.(49%)saidtheypaidapremiumforamoresustainableproductinthelast12months.1•Sustainabilityleadershipcanbea•GenZLeadingtheWay:Althoughthereisapreferenceformoresustainableproductsamongalldifferentiatorinrecruitmentmarketing.consumers,itisstrongerforGenZ.InarecentsurveyofU.S.consumers,75%ofGenZrespondentssaidsustainabilitywasmoreimportantthanbrandwhenmakingapurchasingdecision.2•Internalcommunicationofsustainabilityleadershipisaretention•TheNumbersDon’tLie:Duringafive-yearperiod,averagesalesofproductsmarketedwithboosteracrossgenerationsandsustainabilityclaimsgrewby28%.Inthesameperiod,salesofcomparableproductswithnoparticularlywithGenZworkers.sustainabilityclaimsgrewbyonly20%.3•Remainingsilentonsustainability•ATalentAdvantageAcrossAgeGroups:Aglobalmajorityofcandidatesofallagesaremorewillingandthegreentransitionisnolongertoapplyfor(67%)andaccept(68%)jobswithorganizationstheyperceiveasenvironmentallyaviableoption.sustainable.141.IBMInstituteforBusinessValue2.BakerRetailingCenter,Wharton-UniversityofPennsylvania3.McKinseyINTRODUCTIONGreenGiantGovernmentActionWorkforceImplications:TRENDONETRENDTWOAsscientificwarningsabouttheadverseimpactsofclimate•EmployerswhodonotcapitalizeonTRENDTHREEchangebecomemorewidespread,governmentsandregulatorstheserobustincentivesmayloseTRENDFOURaroundtheworldaretakingactiontoreducecarbonemissions.toptalenttocompetitors.TRENDFIVEAlthoughthisiscreatingthemomentumforincreasinglystringentCONCLUSIONenvironmentalregulation,ithasalsoledtohistoricinvestmentsin•Localincentivesforemployeeincentivestosupportgreenbusinesstransformation.trainingcanhelpcost-effectivelyclosegreenskillsgaps.•AGreenDealIndustrialPlanforEurope:TheEUrecentlyexpandeduponitsGreenDealwiththeintroductionoftheGreenDealIndustrialPlan1tosupportitsgoalofreachingnetzerocarbon•Workersaroundtheworld,emissionsby2050.Inadditiontoexistingincentives,itcreates€225billion($245billion)innewEUparticularlyGenZ,viewsustainablefundingforloansaswellassimplifiedrules,fast-trackpermitting,skillstraining,andapushtoemployersmorefavorably.expandfreetradeagreementswithkeyallies.2•Sincereengagementiscritical•HistoricUSIncentivesSignedintoLaw:TheInflationReductionActof2022includes$369millionbecause“greenwashing”caninincentivesfortechnologytofightclimatechange,thelargestclimatechangebillinUShistory.Sixdamagetoyouremployerbrand.monthsafteritwassignedintolaw,itisestimatedthelegislationhelpedspurmorethan$90billioninnewinvestmentsand100,000newcleanenergyjobs.3GLOBALINVESTMENT•ButChinaStillLeadsGlobalGreenTech:ChinastillleadstheworldinenergytransitioninvestmentINTHELOW-CARBONwith$546billion(nearlyhalftheglobaltotal)spentin2022.TheUSwasadistantsecondwithENERGYTRANSITIONinvestmenttotaling$141billionasinvestmentintheEUreachedatotalof$180billion.4REACHED$1.1TRILLIONIN202241.EuropeanCommission2.Reuters3.WorldEconomicForum4.Bloomberg5INTRODUCTIONGettingSeriousWorkforceImplications:TRENDONEaboutESGTRENDTWO•Globally,only6%ofemployersTRENDTHREEESGisfastevolving—fromitsearlycorporatesocialresponsibilityandwithESGtargetshavethetalentTRENDFOURcommunityvalueadd—toaglobalstandardofdoingbusiness.Thatsaid,theyneedtoachievethem.5TRENDFIVEprogressontheEandpositiveclimateaction,anddefiningwhatandCONCLUSIONhowtomeasurefortheSisstillachallengeforplentyoforganizations.•ESGperformancegapscanMoreorganizationsaresettingthegoalofwhentheywanttogettonegativelyimpactbottomlinenetzeroandmanymoreareonlyinearlystagesoffiguringouttheirresultsbyasmuchas21%.6carbonfootprintpathtoreduction.A“MeasureWhat’sRegulated”mindsetisalsogrowingasbusinessleadersfocusonrecentlyproposedUSESGreportingrules1andtheEUCorporateSustainability•UpskillingneededastheWorldReportingDirective2(CSDR).ThisgrowingregulationmakesworkforceESG-focusedworkforcestrategyEconomicForumestimates61%increasinglyimportant.oftheglobalworkforcewillneedadditionaltrainingby2027.7•1in3PublicCompaniesNowCommittedtoNetZero:Whilemorethanone-third(34%)oftheworld’slargestcompaniesarenowcommittedtonetzero,nearlyall(93%)willfailtoachievetheir94%goalsiftheydon’tatleastdoublethepaceofemissionsreductionby2030.However,expertsbelieveincreasingadoptionbymorebusinessesandtheintroductionofnewclimatechangeOFORGANIZATIONSDON’THAVEreductiontechnologycouldhelpclosethegap.3THETALENTTHEYNEEDTOACHIEVETHEIRESGGOALS5•SeriousAttentionintheC-Suite:58%ofFortune500CEOssaidinarecent2022surveythattheyhaveaplantoachievenet-zerogreenhousegasemissionsby2050orsooner.Thisfigure6isasignificantincreasefrom36%in2021.4•ESGandWorkersWanted:Nearly8in10organizationshaveorareintheprocessofplanningtheirESGstrategy,yet94%ofcompanieslackthenecessarytalenttoimplementtheirgoals.51.USSecuritiesandExchangeCommission2.EuropeanCommission3.Accenture4.Fortune5.ManpowerGroupEmploymentOutlookSurvey,Q420226.Accenture7.WorldEconomicForumINTRODUCTIONGreenTechAdoptionAcceleratingGLOBALGREENBUSINESSTRENDONETRANSFORMATIONWILLCREATEUPTRENDTWOTheconvergenceofgrowingglobalsustainabilitydemandandrapidlyevolvingtechnologyarecreatingTO30MILLIONNEWJOBSBY20305TRENDTHREEincreasinglylucrativeopportunitiesforbusinessestocapitalizeontheglobalgreeneconomy.GlobalTRENDFOURinvestmentinsolarpowerrecentlysurpassedinvestmentinoilproductionforthefirsttimeandWorkforceImplications:TRENDFIVEreachedanaverageof$1billionperday.1Thisrapidgrowthwillaccelerateacrosstheglobaleconomy,CONCLUSIONparticularlyintheenergy,construction,andautomotivesectors.•Thegreentransitioncouldcreateupto30millionjobsgloballyinclean•CleanEnergyTechAdoptionAccelerates:In2021energy,efficiencyandlow-emissionsrenewableelectricitygenerationrosebyalmost7%,atechnologiesby2030.5record522terawatt-hour(TWh)increase,withwindandsolarPVtechnologiestogetheraccountingforalmost•Employersareconcernedaninability90%ofthisgrowth.Chinawasresponsibleformoretoattracttalent(53%)andskillsthanhalfofrenewableelectricitygenerationgrowthingapsinlocallabormarkets(60%)2021,mostlyduetorecordwindandsolarPVcapacitywillbethegreatestbarrierstotheiradditionsin2020.TheUnitedStatesandtheEuropeanbusinesstransformations.5Unionwereresponsiblefor8%ofthegrowtheach.2•Threeinfourworkers(79%)say,•GreenerConstructionandBuildings:Onaverage,buildingsaccountforapproximately40%ofotherthingsbeingequalbetweentotalcarbonemissions.InEuropealone,itisestimated35millionbuildingsneedtoberenovatedtothetwodifferentjoboffers,theyimproveenergyconsumptionbefore2030,creating160,000newjobsintheconstructionsector.wouldtakeajobinaLEED-certifiedGreenbuildinggrowthandjobsarealsoexpectedtoaccelerateinotherregionsasgovernmentsbuildingoveroneinanon-LEED-takeactiontoreducebuildingcarbonfootprints.3certifiedbuilding.6•AReinventionoftheAutomotiveIndustry:Electricvehicle(EV)shareofglobalautosalesislikely7togrowfrom~7%todaytonearly90%by2050.AlthoughEVadoptionisrelativelylowtoday,29%ofconsumersareinterestedinpurchasinganEVandanother24%areconsideringhybridelectricvehicles.Inresponsetogrowingtailpipeemissionsregulations,automakersandtheirsuppliersaregoingallinwithcapitalinvestmentexpectedtoreach$108billionby2030.41.WallStreetJournal2.InternationalEnergyAgency3.EuropeanCommission4.MorganStanley5.WorldEconomicForum6.USGreenBuildingCouncilINTRODUCTIONTheNewCollarofWorkisGreenWorkforceImplications:TRENDONETRENDTWOTheconsensusisgrowingamongconsumers,governments,andbusinessleaders.Unlikethepast,•EmployersneedtofullyoptimizeTRENDTHREEtodaytheycanclearlyseetheimpactclimatechangeishavingontheplanetassealevelsrisetheirstrategicworkforceplanningTRENDFOURandextremeweathereventsbecomemorefrequent.Inaddition,theycanclearlyseethebusinesstoattract,hireandretainworkersTRENDFIVEopportunity,asthetransitiontowardamorecirculareconomyoffersopportunitiestoincreaseamidpersistenttalentscarcityandCONCLUSIONbusinessdifferentiation,reducecosts,improvebrandreputation,anddrivejobcreationintheirlocalgrowinggreenjobsdemand.communities.•Globalupskillingandreskillingefforts•TheBattleforGreenTalenthasAlreadyBegun:Today,70%ofemployersgloballysaytheyaremustbescaleduptoclosegreencurrentlyorplanningtoactivelyrecruitforgreenjobsorskills.2skillsgaps.•GreenistheNewBlue:Employersgloballyacrossindustriesarethemostinterestedinrecruiting•DeployingESGbestpracticesforgreenroles/skillswithinskilledtechnicalfunctionssuchasManufacturing&Production(36%)(e.g.,diversity&inclusion)canhelpandOperations&Logistics(31%).ButtheyarealsoseekinggreenskillsforroleswithinIT&DatayouimproveyourEmployerValue(30%),Sales&Marketing(27%),Engineering(26%),Administration&OfficeSupport(25%),andPropositionandreachunderutilizedHumanResources(25%).2sourcesoftalent.•BusinessLeadersSayGreenistheFuture:In70%arecentglobalsurveyofemployers,55%saidinvestmentsintheirgreenbusinesstransformationOFEMPLOYERSAREandapplicationofESGstandards(54%)willbejobcreatorsfortheirorganization.RespondentschoseCURRENTLYORACTIVELYfromalistofcurrentglobalmegatrendsandgreenPLANNINGTORECRUITFORbusinesstransformationandESGwereidentifiedasGREENJOBSANDSKILLS2thetoptwokeydriversofjobcreationinthenextfiveyears.181.WorldEconomicForum2.ManpowerGroupEmploymentOutlookSurveyQ32023INTRODUCTIONInConclusionTRENDONETRENDTWOTheglobalgreenbusinesstransformationwillbeoneofthemostexcitingperiodsofinnovationfortheTRENDTHREEworkforcesincetheindustrialrevolution.ThisinnovationwillbeacceleratedbythesimultaneouslygrowingTRENDFOURadoptionofincreasinglysophisticatedartificialintelligenceandmachinelearningtools.ItwillalsobedrivenTRENDFIVECONCLUSIONbygrowingdemandfromgovernments,investors,employees,andconsumersseekingbolderactionandtransparency(e.g.,mandatoryreporting)toaddressclimatechange.Today’sgreenbusinesstransformationmustoccurasanagingworkforceinthemostdevelopedeconomieswillmakeskilledhumantalentanincreasinglylimitedresource.Thismeansleadersmustnotonlyinnovatetoimprovetheenvironmentalefficiencyoftheirorganization,butalsoapplythesamethinkingtofullyleveragethepoweroftheirhumancapital.Organizationswhichcanfullyoptimizethewaytheyhire,train,retainanddeploytalentwillbetheleadersinthegreeneconomyofthefuture.9GlobalWorkforceSolutionstoAccelerateGreenBusinessTransformationWorkforceConsultingWorkforceTalentCareerCareerTopTalent&AnalyticsManagementResourcingManagementTransitionAttractionAboutUs-ManpowerGroup®(NYSE:MAN),theleadingglobalworkforcesolutionscompany,helpsorganizationstransforminafast-changingworldofworkbysourcing,assessing,developing,andmanagingthetalentthatenablesthemtowin.Wedevelopinnovativesolutionsforhundredsofthousandsoforganizationseveryyear,providingthemwithskilledtalentwhilefindingmeaningful,sustainableemploymentformillionsofpeopleacrossawiderangeofindustriesandskills.Ourexpertfamilyofbrands–Manpower,Experis,andTalentSolutions–createssubstantiallymorevalueforcandidatesandclientsacrossmorethan75countriesandterritoriesandhasdonesofor75years.Wearerecognizedconsistentlyforourdiversity–asabestplacetoworkforWomen,Inclusion,Equality,andDisability,andin2023ManpowerGroupwasnamedoneoftheWorld’sMostEthicalCompaniesforthe14thyear–allconfirmingourpositionasthebrandofchoiceforin-demandtalent.userid:246491,docid:148631,date:2023-12-15,sgpjbg.com