Sustainable Corporate Strategy: The Role of Human Capital in the Time of COVID-19 Crisis

Abstract

The paper examines the role of human capital in sustainable corporate strategy, education and discusses the ways it supports corporate social responsibility (CSR). In order to identify how employee benefits and how education can support human capital development, quantitative research was realized via an online survey method through a structured questionnaire. Data were collected during two time intervals, before and during COVID-19 Crisis. We find evidence that employees have transformed their perceptions of employee benefits during the Crisis. The survey showed that with the majority of employees working from home due to the current situation, it is necessary to support more flexible working benefits as an integral part of creating a sustainable strategy. Moreover, the investment in employee education as the condition of sustainability is not supported by most of the investigated companies. Finally, the results indicate that the benefit structure is, for employees, an essential part of their job satisfaction and can support employees' loyalty to the firm.