Olena Grishnova

The rapid spread of information technologies and other phenomena in the new economy causes significant changes in the social and employment spheres. The objective is mainly to analyze and systematize the peculiarities of labor and payment for it in the new economy. In this paper, the analytical grouping method for characterizing salary functions, as well as changes in the social and labor sphere that take place in the new economy, correlation-regression analysis to determine the relationship between average income and factors affecting its level are used. The results of the paper show three important findings. Firstly, the gradual changes in the content of labor and forms of its organization that happen in modern conditions under the influence of dissemination of information and communication technologies require new approaches to income adjustment, management of employment of the population, development of professional education system. Secondly, the authors also found that the fair employee compensation, ensuring productive employment in modern conditions, is a challenge not only of the national, but also of international scale. Thirdly, the prospective directions of reducing inequality and social tension in society are the guarantee of the basic unconditional income, progressive tax on all types of income, reduction of the length of working time while maintaining payments and improving productivity. In addition to avoiding social dangers, it would be a proactive progressive function of expanding human development opportunities.

Type of the article: Research Article

The article determines that the direct impact of ESG indicators on the performance of companies using statistical models is very difficult to analyze, since most measures in the environmental, social and management sphere have a prolonged effect and a delayed economic effect. The purpose of the article is to form a methodology and analytical tools for assessing the impact of ESG measures on the efficiency of corporate activities of companies (financial and economic, social, environmental, organizational and managerial and reputational), as well as to verify their practical effectiveness based on empirical data from the international company CRH. The methodological basis of the study is based on a combination of multi-criteria analysis, expert assessment and elements of integral analysis, which allows for a comprehensive assessment of the effectiveness of the company’s ESG measures and to determine the level of integration of sustainable development principles into its business model. Within the framework of the use of multi-criteria analysis, an assessment system was developed with 35 analytical criteria for the impact of ESG practices, grouped into 5 main areas: economic efficiency, social development and human capital, environmental results, management practices, reputational and communication effects. The identified criteria make it possible to assess the effectiveness of ESG strategies and build a model of the impact of ESG on the company’s efficiency. The proposed comprehensive methodology was tested on the example of CRH, which made it possible to assess the effectiveness of its sustainable development strategy and the level of integration of ESG practices into the business model. The obtained value of the ESG Impact Index, the calculation of which is the final stage of the proposed comprehensive methodology, reached 64.8%, which indicates a significant level of integration of ESG principles into the corporate activities of CRH, which reflects a moderately high level of its non-financial efficiency and sustainable management. According to the results of the analysis of the indicators that form the ESG Impact Index, it was found that CRH has demonstrated significant success in achieving reputational advantages and transparency of reporting and management (in the management and organizational results block, 12 points out of a possible 12 were achieved). According to the results of using the methodology developed by us, it was found that CRH’s transition to circular production and support for the global initiative to reduce greenhouse gas emissions became the main factors that improved environmental results and contributed to obtaining a positive socio-economic and environmental effect.