The back-to-school period of 2022 was particularly turbulent, with the war in Ukraine, the "great resignation", inflation and the end of abundance, so much so that companies and employees have since been facing a gloomy mood, which has not spared Afep's bosses, who recently expressed their negative mood.

As an economic player, the company must adopt new strategies of conduct: more sustainable, more equitable, more inclusive. To achieve this, it is vital that companies become aware of their impact on society and take concrete action to reduce their negative externalities, in order to ensure the long-term viability of their activities, particularly with young talent. Indeed, according to public debates, young people are increasingly attracted to companies that are committed to social and ecological issues.

However, are CSR policies or the adoption of a raison d'être the sine qua none of attracting young talent, or have they become a new HR marketing argument?

Are young people becoming more discerning?

The event did not go unnoticed. On May 7, AgroParisTech held its graduation ceremony, during which a number of graduates called for a change of career path, denouncing their training as contributing to the "ecological and social devastation underway". In return, they argued for the need to join ecological struggles and participate in the deployment of alternative collectives.

These young people have been dubbed "bifurcators": young graduates who no longer hesitate to change direction early in their careers to respond to climate and social emergencies. This movement marks a break with previous decades, when working in a large company was the assurance of rewarding experience and a "nice line" on the CV.

Since 2020, numerous studies have been published on the expectations of young people and the vectors of attractiveness for companies. In early 2020, the Edhec NewGen Talent Centre conducted a study with BearingPoint on "La nouvelle donne de l'engagement des jeunes générations en entreprise". The results show that the opportunity to acquire new skills, the work environment and the assumption of responsibility are very important expectations, ahead of the prestige of the company. Similarly, the level of remuneration is important, but is not a primary criterion as long as the minimum salary threshold set by the candidate is respected.

In 2021, the Fondation Jean-Jaurès and Macif showed that 29% of young people wanted companies to make a commitment to the environment, 27% against racism and discrimination, and 25% against gender inequality. Interestingly, this study also highlights the greater attractiveness of local companies (39%), ahead of startups (26%), the SSE (25%) and the CAC 40 (13%).

Nevertheless, this debate deserves intellectual honesty. These concerns remain the privilege of young graduates with 5 years' higher education or more: informed and aware adults who are relatively confident about their ability to find a job, as opposed to young people with few or no qualifications who are looking for a stable, secure job.

Corporate sincerity or the new "commitmentwashing"?

A company's ESG commitment and criteria have become major issues for investors in a context where there is increasing talk of "green finance". In January 2022? Larry Fink, CEO of Blackrock, called for the deployment of stakeholder capitalism, specifying that the role of companies was to contribute to the decarbonization of the global economy. Five months later, Larry Fink asserted that "It's not up to the private sector to play the role of the environmental police".
Similarly, at the Moral Money Summit Europe, Stuart Kirk, former Head of Responsible Investment at HSBC, gave a talk entitled "Why investors shouldn't worry about climate risk".

CSR policies have been in use in Europe for almost 30 years, but the balance sheet remains mixed between companies that are greenwashing and those that are genuinely committed to strong issues at their own level. Despite this, companies' reputations have also darkened. Geneviève Férone-Creuzet, co-founder and partner of Prophil, asserts that "the plasticity of capitalism has perfectly assimilated the codes of CSR, the better to empty it of its substance and keep it on the bangs of regal functions and the production tool (...). Few companies, and more specifically their managers, have therefore moved in the direction of a genuine transformation of their business models and governance".
The Pacte law, passed in France in 2019, allows companies to adopt, by its own initiative, its raison d'être co-constructed with all its stakeholders. This raison d'être can then be enshrined in the company's articles of association, making it enforceable and followed by objectives to be met, the company becomes "a company with a mission". However, there is no legal obligation to do so, so a company can adopt its raison d'être without taking any concrete action.

Let's be honest, economic results will always be a major (if not vital) imperative for companies: without sales, a company cannot live and invest. But faced with the urgencies of our times, companies need to realize that their commitment is also a sine qua non for their long-term survival. For example, if players in the timber industry don't invest in reforestation, the predicted depletion of their raw materials will have a direct impact on their business.

The importance of commitment

No single model or vision of a sustainable company can be drawn up, given the multiplicity of sectors and issues involved. It would be all too easy, and even reductive, to advocate a single virtuous model, at the risk of sticking to theoretical principles.

Doesn't the solution lie in the ability of managers to embody their projects, their aspirations and their objectives, so as to attract and inspire the younger generation, rather than trying to convince them with grand demonstrations and speeches? There's no doubt that companies will only be able to initiate and succeed in their transformation if they have sincere, committed managers who can carry these projects forward with humility and conviction, and mobilize their staff and partners around them.