Rewards and well-being are intrinsically linked, influencing both people and the workplace. At the People Matters’ Total Rewards & Wellbeing Conference 2024, industry leaders Vishwa Bandhu Bhattacharya and Vamsi Dasetty delved into how sustainability can be integrated into rewards and wellness strategies to drive business and talent success.

The session, titled “Dialogue For Change: Green Rewards: Embedding Sustainability in Talent Strategy to Drive Business Impact” was moderated by Cheshta Dora, Head Content & Community, People Matters. It offered actionable insights into designing rewards and wellness programs that resonate with employees’ values, support long-term sustainability goals, and drive business value and impact.

Vamsi proposes a three-pillar approach to integrating ESG principles into rewards, workforce, and workplace: work, workforce, and workplace. “This involves designing meaningful roles aligned with organisational goals, providing development opportunities, and offering flexible benefits to cater to diverse lifestyles,” he argued.

To truly support employees, Vamsi emphasized the need for innovative benefits and flexible work arrangements. By offering options like remote work support and personalised programmes, organizations can create a more inclusive and fulfilling work environment.

For Vamsi, the workplace experience should reflect sustainable practices and foster a positive work environment. “This includes ergonomic design, location considerations, and environmentally friendly facilities, as well as details like sustainable food options. Incorporating eco-friendly practices and aligning these with the total rewards strategy enhances workplace experience and aligns with ESG goals,” added Vamsi.

Vishwa Bandhu Bhattacharya makes a point that sustainability is more than a value addition; it must complement daily business operations and provide a unique value proposition. For example, in talent management, adding a sustainability component to the Employee Value Proposition (EVP) can attract high-calibre talent by showing that the organisation values responsible practices. “Another example is capital access—firms with strong ESG credentials often have an edge in attracting investors. The same applies to talent attraction; candidates want to join organizations aligned with their values, especially around sustainability.”

Wellness beyond health

Leaders highlight that organisations must ensure benefits are equitable across locations, including hazard pay for challenging areas and support for eco-friendly commuting.

“This is especially crucial for organisations with a geographically dispersed workforce, like ours. Encouraging shifts to lower-emission travel options, like electric vehicles, is one way we address sustainability while controlling operational costs. Balancing employee expectations with company goals is key here,” points out Vamsi.

To drive meaningful impact, Vishwa Bandhu shares two-fold advice: first, create metrics that are not just numbers but illustrate the value proposition. Second, build capacity at all levels to understand sustainability in practical terms. “It's about clear communication—explaining these initiatives in simple, relatable language to foster buy-in,” he highlights.

Embedding ESG into an organisation’s purpose, says Vamsi—linking it to what the business does daily—ensures that sustainability becomes intrinsic to the culture. “Governance and compliance will follow naturally when sustainability is at the heart of the business’s purpose.”

As companies continue to prioritise sustainability in their operations and talent strategies, they not only drive business value but also contribute to a more sustainable and responsible future.