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3 Reasons You Should Care about Global Warming as a Business

As a company, it is important to reflect values that employees and consumers prioritize when supporting a business. Sustainability practices are becoming a key integration strategy for companies to increase consumer engagement. Starting to implement practices that reflect a circular economy framework in the workplace has gained popularity for a variety of reasons. Not only can they help retain both employees and consumers, but it assists in the growth of the business as well. Building a positive reputation around sustainability efforts can help increase a brand’s reputation.


Going forward with new practices that use environmentally conscious methods also helps a company by performing well against competition.

 


Three reasons you should implement sustainability practices into your business:

1.     Sustainable practices help retain and recruit employees


2.     Consumers are starting to consider the consciousness of brands environmental stance within buyer behavior


3.     ESG and DEI help promote awareness within the workplace on real world issues

 

Sustainable practices help retain and recruit employees:

Employees, when entering a company, consider a variety of criteria that they need to start a position. Some being: salary, location, company atmosphere, and what benefits may be offered. However, there’s one that stands out that is just as relevant to consider. Companies willing to focus their efforts on sustainability and corporate social responsibility set themselves up to attract purpose driven employees.


According to IBM’s “Sustainability at a Turning Point” Research Brief, around 70% of employees, and potential employees, say that sustainability initiatives make them more likely to accept an offer or remain within an organization. Working towards a larger goal guides awareness within an organization of issues that must undergo improvements. Without proper practices, a company may suffer the loss of viable employees. Helping the environment, through active practice, is seen positively within workplaces, ensuring reliability on how employees feel about their atmosphere.

 

Consumers are starting to consider the consciousness of brands environmental stance within buyer behavior:

The ultimate driver of how well a company performs is the number of consumers and company interaction they have. People who are in the market to buy a product or service can drive sales and engagement. When a business looks towards what they should incorporate, one of the main things to consider would be where the consumer stands. What does the consumer value? What does the consumer want to see? And what may the consumer think about when going to buy a product?


Recently, sustainability has been a main consideration of consumers when going to purchase an item. Acknowledging this buyer behavior can assist business in reflecting their target audiences’ wants and needs. “Consumers want to support companies that align with their values. And they’re willing to pay for the privilege. More than half say they would pay a premium for brands that are environmentally responsible” (IBM). Transparency is a tool to use to gain ample brand engagement, through being honest with their target audience. By being adaptable, a company shows their willingness to grow and learn while aligning with consumers values.

 

ESG and DEI help promote awareness within the workplace on real world issues:

Environment, social, and governance (ESG) practices ensure that a company continues to reflect on what is needed in terms of planet, people, and profit. While diversity, equity, and inclusion (DEI) helps companies stay in touch with promoting inclusivity within the workplace. Both frameworks are important to implement and practice within and outside of the work environment. According to UCEM’s “A Guide to ESG: What is It and Why Does It Matter?”, 88% of customers are more inclined to show loyalty to a company that performs well in ESG, supporting a positive relationship between ESG and improved financial performances.


This can create a positive and meaningful environment for employees and consumers to get involved in. Incorporating ESG and DEI frameworks help build a foundation of positive impacts in and around the company.

 

Where we come in:

At Empatix Consulting we love learning more about rising topics such as sustainability. We have been able to positively impact our clients and want to help you do the same!

 

Need help understanding how sustainability can be a key tool in your company? Feel free to reach out, we would love to chat!

 

 


"A Guide to ESG: What is It and Why Does It Matter?" University College of Estate Management, 20 Nov. 2023, www.ucem.ac.uk/whats-happening/articles/what-is-esg-why-is-it-important/.

 

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