The role of the social component of ESG in modern conditions of personnel shortage
Abstract
It has long been proven that the efficiency of the economy is measured using such indicators as profit, revenue, profitability, labor productivity, gross domestic product growth and other usually financial indicators. However, in the context of global challenges, including climate change, social inequality, and increased regulatory pressure, it becomes necessary to take into account not only financial but also non-financial factors. The paper presents a study on the impact of economic instability on the implementation of ESG principles in the business practices of resource-oriented companies. The application of the ESG approach is becoming an integral part of corporate strategies, affecting reputation, investment attraction, competitiveness and the ability to adapt to changing market conditions. An analysis of non-financial reports for 2023 showed that companies mainly focus on environmental aspects, while social and management components receive less attention. In today’s conditions of personnel shortage, ignoring opportunities to attract personnel can lead to negative consequences. In turn, support and attention to the social components of ESG principles can ensure not only investment attractiveness, but also the long-term competitiveness of companies in a turbulent economy.
About the Author
D. A. Myasnikov
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
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Review
For citations:
Myasnikov D.A. The role of the social component of ESG in modern conditions of personnel shortage. Kazan economic vestnik. 2024;(6):54-59. (In Russ.)
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