It’s no secret businesses care about their bottom line. What’s becoming clear is that companies focused only on their financial success may have difficulty competing both for customers and for top talent. Embracing sustainable business practices is more important than ever.
A recent survey of 16,000 global consumers by the IBM Institute for Business Value found that 51% say environmental sustainability is more important to them today than it was 12 months ago. Of that same group, 44% said that they choose products based on how well they align to their values. If that’s not big enough news, according to global communications firm Edelman’s recently released The 2023 Edelman Trust Barometer, 69% of employees said that having a societal impact is a strong expectation or deal breaker when considering a job.
It may be time for more companies to consider the triple bottom line. This concept suggests that there are actually three P’s to consider. Rather than just the standard of Profitability, businesses need to also be measuring their impact on both People and the Planet. With this broader view of success in mind, it’s easier to see the impact a company is having on both society and on the environment.
Check out the suggestions below for how to embrace corporate sustainability initiatives and become a purpose-driven employer:
Define the Mission
Make sustainability goals part of your mission statement.
Keep in mind that this process is continually evolving, so allow for ongoing adjustments and updates, creating a living document.
Develop a Plan
Below are some of the key topic areas to consider, questions to ask on those topics as part of your assessment, and ideas for measures to implement as part of your Corporate Sustainability Action Plan:
Topic Area
Questions
Measures
Efficiency
Waste
Vendors
Community
Transportation
Measure Outcomes
Once your green team has developed a thoughtful Corporate Sustainability Action Plan with specific goals based on research and stakeholder input, communicate it throughout the company. Use every
corporate event and opportunity to promote it. Institutional change can be a challenge in a corporate environment, it’s important to have patience, and push ahead. Remember that it’s fine to start small and grow the program over time.
There can be anxiety around measuring outcomes, but it’s important to see how it’s going. Periodically checking results of the plan allows for adjustments that ultimately make it more successful.
For more information on the benefits of offering a commuter services program to your employees, contact Michele Brooks at mbrooks@transactionassoc.com
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