L. Duksaitė: shortage of managers hits drivers like winter – unexpectedly
Shortages of certain leaders – like winter for drivers – come unexpectedly every time. This time it will be the case with sustainability professionals.
Take a look at the weather forecasts.
They make a clear promise: from 2024, Sustainability Reporting will be mandatory for most large companies. Three years later, medium and small companies will be required to do the same.
What are large companies? The criteria are threefold: assets on the balance sheet worth €25 million, net sales revenue of €50 million per year, 250 employees. Companies meeting 2 of the 3 criteria will be required to submit sustainability reports first.
ISM sustainability expert Dr Jonathan Boyd cites a study by LinkedIn and Microsoft, where already last year there were more green professionals in demand than the market offers. Over the year, the demand for them grew by 8%, while the supply of talent grew by only 6%. In 2024, this gap is very likely to widen even further.
“Swedbank estimates that there are over 300 companies in Lithuania that will have to submit sustainability reports. The question is how many of them have sustainability competence specialists.
It’s worth learning from past experience.
For example, when the Bank of Lithuania announced that every company that wants to be regulated in Lithuania (e.g. to obtain an e-money licence) will have to have 3 specialists – a compliance officer, a money laundering and prevention specialist, and a manager – there was immediately a huge demand for these competences. The market for selections is changing.
The same is true after the entry into force of the AML (Anti-Money Laundering and Prevention) Directive. The demand for these professionals has risen sharply.
Sustainability professionals are unlikely to be any different. A year from now, a couple of hundred may be needed.
So let’s start preparing our shovels for winter… at least at the beginning of winter, if we’ve given up in summer. Once the snow has fallen, there will simply be no more shovels. And the more discerning will be looking for air-conditioning by then.
