Consumers are more socially conscious than ever, and this attitude is impacting their purchasing decisions.
Sustainability has become a hot topic in business, with more and more organisations looking to create an environmentally friendly company. Sustainability is a greener approach to business, focusing on reducing your organisational impact on the environment. From transforming your workplace into a paperless office through the digitisation of documents and forms to eliminating business travel to allowing your staff to telecommute at least part of the time, there are numerous practices a company can take advantage of to become sustainable. While corporate social responsibility in the name of mitigating the depletion of natural resources is obviously beneficial to our planet and future generations, companies that embrace sustainability stand to benefit from it as well.
In addition to doing your part to protect the environment, here are some other ways operating a sustainable business is a win-win proposition for companies large and small.
Improve your brand image – Consumers are more socially conscious than ever, and this attitude is impacting their purchasing decisions. People increasingly wish to do business with environmentally friendly companies that share and embrace their values, often willing to pay more to do so. According to the Natural Marketing Institute, 58 percent of consumers say they’re more likely to purchase goods or services from companies that practice sustainability. This social responsibility will likely make you stand head and shoulders above competitors who have not embraced sustainability.
Lower overhead – Your business can actually cut costs by implementing sustainable practices. Going paperless, switching to LED lightbulbs, cutting back on travel, and other eco-friendly or energy-saving initiatives will lower a business’s overhead and save them money.
Attract employees and investors – Not only do consumers want to buy from sustainable businesses, but employees also want to work for these organisations. A company’s values matter to job candidates these days, especially younger generations, such as millennials. Operating sustainably can make your business more desirable to the employment pool, giving you a leg up on other employers in the minds and hearts of prospective employees. Sustainability will also stand out to smart investors, who recognise the value of socially responsible companies.
Increase employee retention – In addition to making your company more attractive to job candidates, operating sustainably also positively impacts your existing employees. Studies show that sustainable businesses experience higher staff morale, engagement, and loyalty than those who ignore social responsibility.
Sustainability is a win-win proposition that benefits both the environment and the companies that do their part to protect it for future generations. Contact us today and view our sustainability section online if you’d like to learn more about how your business can become more sustainable to reap these rewards.
