Exploring the Impact of Workforce Well-Being and HRM Practices on Financial Performance within the Framework of ESG Accounting

Muhammed Zakir Hossain, Farin Sohana, Farhana Haque Purnima and Nusrat Jahan Jui
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Muhammed Zakir Hossain: Associate Professor, Department of Business Studies, State University of Bangladesh, Bangladesh
Farin Sohana: Lecturer, Department of Business Studies, State University of Bangladesh, Dhaka, Bangladesh
Farhana Haque Purnima: Lecturer, Department of Business Studies, State University of Bangladesh, Dhaka, Bangladesh
Nusrat Jahan Jui: Department of Management, Faculty of Business Studies, University of Dhaka, Dhaka-1000, Bangladesh.

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Abstract: This research explores the critical relationship between workforce well-being, Human Resource Management (HRM) practices, and financial performance within the context of Environmental, Social, and Governance (ESG) accounting. Through a comprehensive quantitative analysis involving 200 employees, the study reveals a strong positive link between employee well-being and financial outcomes, with HRM practices playing a key mediating role. The findings suggest that organizations that prioritize the health, satisfaction, and engagement of their employees not only foster a more productive workforce but also see tangible improvements in financial performance. This study highlights the essential role of HRM-driven well-being initiatives in aligning corporate strategies with ESG objectives, offering businesses a pathway to achieve both financial success and social sustainability. The insights gained provide valuable contributions to the fields of HRM, well-being, and ESG accounting, offering actionable guidance for organizations striving to enhance performance while upholding social responsibility.

Keywords: Organizational Sustainability; ESG accounting; Financial Performance; Human Resource Management Practices; Workforce well-being (search for similar items in EconPapers)
Date: 2025-05-01
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Published in European Journal of Management, Economics and Business, 2025, 2 (3), pp.186-200. ⟨10.59324/ejmeb.2025.2(3).14⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05736683

DOI: 10.59324/ejmeb.2025.2(3).14

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