Updated: Jan 8, 2021
We humans tend to overlook the severity of preserving the environment and habitually pick the most convenient option. All these seemingly harmless things we do actually greatly impact the environment.
Showing the public that your company is environmentally conscious will benefit the business as well. To that end, profit is no longer your only priority. Rather, a sustainable business considers the impact on society, and most importantly, the environment. Here are benefits of converting your business to a sustainable one.
Being Environmentally Efficient Cuts Costs, not Trees
Being able to cut expenditure while preserving the environment sounds too good to be true? Not at all.
When it comes to managing a business, it all boils down to efficient budgeting. Going green is just one of the many ways to achieve that.
Physical copies of documents just scream “outdated”. Besides, it’s a huge waste of paper. We’re living in the internet age. Make full use of it. Store information on the cloud- it’s safer and better for the environment anyway. Switching off equipment at the end of the day or putting them to sleep mode when not in use goes a long way. Putting this into practice can save hundreds or thousands per year.
Adopting sustainable practices with green technology and recycling and reusing habits can also improve your business in the long run.
Happier, More Ethical Employees
Millennials- as advocates of great deals of causes, would naturally be in the quest of employers who supports a social cause. In this regard, it is paramount that your business takes a sustainable approach and be socially progressive. Employees who take pride in their employers will subsequently take pride in their jobs. Hence resulting in higher productivity.
The basis of what your company is made of is seen in the approaches it takes in terms of sustainable practices. Your employees will most likely be enlightened and become more ethical people as a whole if you implement sustainable practices such as carpooling or taking public transport to work to reduce carbon monoxide emissions.
As we’ve highlighted in previous articles, you know the merits of having highly motivated employees. It is essential for the growth of your business.
Getting the Edge Over Your Competitors
Companies that are proactive in taking a more sustainable approach will not only gain motivated employees, but also customers who are green advocates. Suddenly, holding the same values isn’t just imperative when it comes to romantic relationships but business relationships as well.
As millennials are opening up new markets with their never-ending advocacy for all sorts of causes, it’s no surprise they would only opt to purchase products from environmentally friendly and sustainable businesses, even if it means paying a heftier price. Whether you like it or not, this is the harsh reality of current times. Bearing that in mind, if your business isn’t living up to their standards, you’re going to lose a lot of potential customers.
Developing sustainable and high-quality products can give you an advantage over your competitors who are still stuck in their ways- regarding profit as their main priority. Demonstrate a commitment to the environment and distinguish yourself from your peers. This will ensure your relevance in the long run.
"We shall require a substantially new manner of thinking if mankind is to survive." - Albert Einstein
Reputation Can Be What Makes or Breaks Your Business.
Some well-known companies have undertaken a sustainable approach.
Intel is dedicated to water conservation and has saved over 64 billion gallons of water and returned or restored 80% of their water use.
IKEA’s invested in sustainability throughout its entire business operations. They sourced close to 50 per cent of its wood from sustainable foresters and 100 per cent of its cotton that meet the Better Cotton standards, which mandate reduced user of water, energy and chemical fertilisers and pesticides. They have more than 700,000 solar panels powering its stores, and plans to start selling them to customers in the UK.
Learn from them- it will surely provide a significant boost to your own business as a reputable and ethical company that cares for the environment. You don’t want to be known as that company that is notorious for disregarding the environment.
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