Tag: social responsibility

The growing importance of Environmental, Social, and Governance (ESG) criteria is having a significant impact on how building projects are planned, executed, and managed in South Africa. If anything, it is reshaping the construction landscape when it comes to promoting sustainable development and improving social outcomes.

In 2023, Reuel Khoza unsealed a letter to the future, which he had written in 1999 when he was chair of Eskom, at the time recognised as the best power utility in the world. It was an optimistic letter, expressing hopes that have since been dashed by corruption and maladministration – by a failure of ethical leadership.

As the Matric Class of 2023 nears the conclusion of their school career, a few of these learners will recognise Broad-Based Black Economic Empowerment (B-BBEE) as a section in business studies. However, B-BBEE – and how companies decide to implement their skills development initiatives – may be the defining factor that determines some of these young people’s career prospects and future.

In the rapidly evolving landscape of employee remuneration, the year 2024 marks a crucial juncture. The global dynamics are shifting, presenting both challenges and opportunities for organisations and their workforce. The remuneration climate is quickly and continuously changing, forcibly and consistently keeping us on our toes.

With over 13 years of working in the Broad-Based Black Economic Empowerment (B-BBEE) space, we have witnessed an evolving landscape of transformation. From verifying compliance to fostering inclusivity, his path has taken him from corporate corridors to government initiatives.

The Employment Equity Act 55 of 1998 aims to promote equal opportunity and fair treatment in employment through the elimination of unfair discrimination and the implementation of affirmative action measures. The Act requires designated employers to submit annual reports on their progress in achieving employment equity goals.

With a personal affinity for change management borne out of transformative events in my life, I have witnessed its power to shape attitudes, behaviours, and thinking. In the fast-paced world of business, change management emerges as the transformative force that ignites the mind, heart, and soul of organisations.

While climate has dominated investor energy for environmental and social issues around the world until now, the ‘S for Social’ in ESG, which refers to a company’s impact on society, how it treats its staff, suppliers, customers as well as the communities in which it operates, is starting to garner more attention from investors. 

In 1970, Nobel Prize-winning American Economist Milton Friedman argued the following: “There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”

Although many retailers have successfully implemented omnichannel services like same-day shipping, in-store pickup or home delivery, research shows that only a third of retail executives said this was a regular service, while 62% said it was just for the 2021 holiday season.