In today’s rapidly evolving global market, human capital stands as a vital driver of economic growth and organisational success. The skills, knowledge, and competencies of employees are more valuable than ever, enabling companies that prioritise learning and development to achieve greater productivity, innovation, and a competitive edge.
This investment in human capital not only has a positive effect on staff morale and retention but it makes organisations better equipped to adapt to rapid technological advances and market volatility. As a cornerstone of economic resilience and societal progress – vital for sustainable growth and long-term success – human capital development should be considered an utmost priority. Organisations like C.P. Group demonstrate how integrating sustainability into workforce development sets a benchmark for others to follow. By fostering collaboration between private and public sectors, as well as international partnerships, C.P. Group strongly focuses on building a more inclusive and resilient society, equipped to tackle future challenges.
Dr Teerapon Tanomsakyut, Chief of Sustainability and Strategic Development at Charoen Pokphand Group Co., Ltd. (C.P. Group), addressed the Global Compact Network Thailand (GCNT) Forum on Monday [2 December 2024] to outline his vision for human capital development. The theme of this year’s forum – which convened in the ESCAP Hall at the United Nations Conference Centre (UNCC) in Bangkok – was ‘Inclusive Business for Equitable Society: Transforming Future Business for Equality and Sustainability’. He was contributing to an insightful session entitled ‘Bold step, Lasting Change – Collective Actions to accelerate Human Capital that foster an equitable Society’.
Dr Teerapon began by emphasising the dramatic changes presently being experienced throughout the private sector, and then noted that "the path to the future is where we see how well we’ve prepared the next generation. Unfortunately, it’s become increasingly apparent that we’re not just failing to prepare them properly, but we’re leaving them with too many unresolved issues."
Of these ongoing challenges, Dr Teerapon pinpointed global inequality in particular, with reference to statistics for 2023 reported by UN agencies: 724 million people classified as living in poverty, 735 million going to bed hungry, over a billion living in slums or slum-like conditions, and more than 250 million children being out-of-school. He told the forum it was imperative that the private sector focus on addressing this disparity, calling for a concerted effort far exceeding CSR initiatives of the past.
Dr Teerapon asserted that improvement of the quality of life – nourishing body and mind while preserving natural resources – is central to the ethos and values of C.P. Group, both as an enterprise and an employer. He noted this could only be achieved by balancing economic, environmental, and social factors, thereby attaining sustainability in its various aspects.
"Addressing these challenges entails equipping the next generation with the tools needed to tackle them, by embedding sustainability into their education," he said, before adding that true and lasting impact would also require the integration of sustainability into core business operations. “The focus must be on developing future skills, especially in a manufacturing-based economy like Thailand, where the workforce plays such a pivotal role in determining how well businesses respond to changing conditions.”
With ‘Heart: Living Right, Health: Living Well, Home: Living Together’ as a guiding principle, Dr Teerapon outlined C.P. Group's policy on sustainability with reference to the five pillars of organisational transformation:
- Transparency In this context, transparency involves setting well defined and clearly communicated sustainability goals that reflect a long-term strategy and alignment with global objectives, and particularly the UN Sustainable Development Goals (SDGs).
- Market Mechanism This includes the establishing of public-private partnerships to support sustainable objectives, such CONNEXT ED. This was founded by the C.P. Group in collaboration with the GCNT and the Digital Council of Thailand as an integrated dashboard for schools throughout Thailand to report and display performance against specific measurables.
- Leadership and Talent In keeping with the importance placed on developing human capital as a driver of sustainable growth, CP employees at all levels are supported in the pursuit of lifelong learning. For example, a target has been set for 40% of the group’s 450,000 employees to have advanced digital skills by 2026. Meanwhile, the CP Leadership Institute (CPLI) was founded in Khao Yai to foster well-rounded ‘new generation leaders’ able to carry forward the organization’s values in their pursuit of excellence.
- Empowerment The C.P. Group achieves this through C.P. Group’s Synergy framework, which includes initiatives such as CP Seeding Social Impact – focussed on growing a network of SME partners each bringing tangible benefits to their community – and the annual ‘CP for Sustainability’ Awards.
- Technology and Innovation At the many centres of excellence, learning centres, and start-up investments in place within the C.P. Group, there is a shared emphasis on nurturing the forward-thinking, agile and creative talent necessary to steer the Group further into the digital age.
Updating the forum on the progress made by C.P. Group towards its sustainability goals for 2030, Dr Teerapon said that significant strides had been made over the past year, with 17% of these having been met already. He mentioned for example that most CP premises now had solar cell panels installed, showcasing a commitment to sourcing renewable forms of energy. True Digital Park – located at Sukhumvit 101 in Bangkok – houses over 5,800 ecosystem players, including startups, SMEs, corporate tenants, venture capital firms, and educational institutions.
The importance of partnership was emphasised, as C.P. Group’s efforts towards meeting the UN SDGs involve extensive collaboration with domestic and international partners. The Digital Council of Thailand and CONNEXT ED Foundation have pivotal roles in advancing digital society and education respectively, while initiatives like the Seafood Task Force and the SEAcosystem Project aim to preserve and restore marine ecosystems through a close cooperation with stakeholders across a range of sectors. The RE4REST project is a collaboration with government and educational partners to increase forest cover and reduce smog in northern Thailand.
Dr Teerapon concluded by underscoring the importance of equipping the next generation with the necessary tools and knowledge for tackling global challenges and ensuring a more sustainable and equitable future: "On the road towards a sustainable world, the private sector, just like the education sector, is faced with many challenges. We should be opening our doors to welcome young people of all ages – as the future drivers towards sustainability – and offer them practical, real-world learning opportunities, even while they are still at school."
