Companies are able to use a measurement of the ‘S’ aspect of ESG for a number of reasons, which sources like Mckinsey & Company and S&P Global suggest include (but are not limited to):
On the other hand, Employees are able to utilize a measurement of the ‘S’ aspect of ESG in deciding which companies to work at. Many of the most important factors employees consider in the job search are covered by this social category, which is why such a score enables potential employees to gauge which companies they would be interested in working and staying at. Such factors include (but are not limited to):
From the statistics listed above, we can see that the importance of companies’ social score is twofold. Companies seek to attract and retain top talent, thus reducing the volatility of the organization, and employees seek meaningful work, at corporations that make them feel head and valued. Our tool seeks to address this mutual need to enable better work, for both corporations and their workers.
We acknowledge that ESG has been measured by existing tools and organizations before. When it comes to quantifying ESG metrics, there are 2 main approaches: quantitative and qualitative.
The existence of so many ESG-quantifying tools begs the question – what makes Envisioning different?
In our market research, we noticed a shocking issue pervading the existing dashboards and tools related to ESG quantification -none of these tools make ESG information accessible to employees. Although such tools are powerful in aggregating data across numerous sources and training complex NLP models, they are often finance-oriented tools that can only be understood by a very limited number of educated readers. Furthermore, their vast databases and complex, client-facing visualizations are often only able to be interpreted by people with a very specific quantitative skillset, let alone the general public.
This is problematic because the education of companies and the general public on ESG metrics are directly related. According to PwC:
91% of business leaders think they have a responsibility to act on ESG issues
86% of employees want to work for a company that supports the same issues that they do
Making ESG information accessible to the general public and employees, not solely companies, will help employees find work at companies that actively enforce ESG policies, resulting in better satisfaction and quality work that can be retained for longer. It will also pressure companies to improve their ESG score so as to find, attract, and retain top talent, resulting in better productivity.
Envisioning is a tool that solves this unaddressed problem, that democratizes ESG information to companies, employees, and the general public alike. With state-of-the-art data visualizations, fine-tuned using complex NLP machine learning models, we offer insightful dashboards that quantify social scores in a way that the general public can understand. Additionally, we provide more complex, specific dashboards with our premium service, which would provide companies with in-depth information to take meaningful action. Through this inclusive approach, we hope to address a twofold problem and simply enable better work.
We welcome you to join us in achieving our vision of a brighter, happier, and more productive future.