Green Party’s Companies Act changes, good or bad

The Green Party has pledged, in its 2024 general election manifesto, to amend the Companies Act 2006 ‘so that company directors must prioritise the wellbeing of all living entities’ and avoid negative environmental and social consequences.

Mia Finley, people advisor from employment law, HR and health and safety firm AfterAthena looks at the impact this legal amendment could have, and if it’ll deliver a positive impact to employees.

“It’ll definitely have a positive impact, especially when it comes to employee engagement and retention and a core enabler in the performance of your people.

“Having a robust wellbeing strategy in place, whether this be within your HR/people strategy or incorporated into the overall business strategy, will bring about a supportive culture with a focus on the people within your organisation ensuring they feel valued and not just a number on a system

“Fostering employee wellbeing creates a positive environment where both the individuals and business can thrive together.

“With this pledge, the aim it seems is to have the onus on the employer to ensure wellbeing initiatives are in place and for the voice of their employees to be heard and acted on when it comes to wellbeing areas, such as work-life balance, flexible and agile working, and mental health support in the workplace.

“The only thing to bear in mind with this, from a HR perspective, is ensuring that the initiatives are lived in practice and part of the day to day support framework for employees.”