Years ago, the idea of sustainability was often thought to compromise business profits. Business owners were often reluctant to change perceived successful processes – resulting in a lower focus on the environmental outcomes as we see today.
We’re now living in what has been referred to as the “Sustainable Revolution”.
Gone are the days where the idea of protecting the environment makes business nervous about profits.
Not only is sustainability “in,” it’s necessary and beneficial for business.
Lower staff turnover & better employee morale
Where do we want to work? And how do environmentally responsible do we want our employer to be?
According to a 2018 study from HP Australia and Planet Ark, 70% of Australians aged 22-30 stated a strong preference or desire to work for a company that promotes environmentally sustainable practices. While only 48% of Australians aged 46-53 agree, it’s important to consider, out of the two, which demographic is moving into the steady workforce and which is soon to be retiring out from it.
The focus of business sustainability is usually its impact on the community, both locally and globally. However, sustainability starts with the people behind the scenes. Your business’ company mission, vision, values and goals are what unites your team.
We are all accountable for our planet’s well-being. That said, it’s likely that your employees feel a sense of responsibility to the environment.
Allowing them to fulfil that responsibility creates a positive work culture, boosts employee morale, and rewards them in their career and purpose. As a business owner, you and your management team should lead by example to create that company culture.
Enhance your Company’s Reputation
The consumer is better educated and expects better corporate citizenship than ever before.
According to Ryan Collins, the Recycling Programs Manager at Planet Ark, “It is no longer enough for companies to have environmentally sustainable practices – they need to encourage these behaviours in others.”
The “Sustainable Revolution” aren’t words to take lightly. We’re living in a world that cares more about the environment now that it ever has before. According to a 2018 Nielsen study, 46% of global consumers are willing to ditch a brand name in order to purchase a more environmentally-friendly alternative. The fact is, businesses don’t always shape consumers – consumers shape a business. Consumers aren’t afraid to jump ship for a more eco-friendly brand alternative. In fact, it now seems that they are more or less demanding businesses to “go green.”
The Nielsen study also revealed that 62% of global consumers are willing to pay more for products and services from sustainable companies, and 55% for brands that carry social responsibility. What consumers value most from a brand has changed in recent times – they are no longer turning away from sustainable options that may cost a few extra dollars but are instead buying into that – which is why it’s important for businesses to jump on board to improve their bottom line.
Measurable and reportable outcomes
Maintaining sustainable business practices isn’t just about including it in your company’s mission or vision – it’s about achieving measurable and reportable outcomes.
“Going green” often requires you to change your supply chain process. One thing to consider is your waste management plan.
At Nationwide Waste Solutions, we’ve helped clients reduce their waste from 378 cubic metres per week to just 63 and improve their diversion rate from 4.5% to over 80%. Achieving results like this starts with a simple discussion with your waste management provider.
If you own or manage a medium to large business and you want to achieve measurable sustainable figures in 2020, speak to one of our experts today – call 1300 729 922 or contact us here.