Corporate sustainability and why should I care
Here's a question to ask yourselves this week: What is corporate sustainability, and why should it matter to me?
I have to admit -- this is a tough question. But it's one that entrepreneurs, companies and employers will increasingly have to deal with in the years to come.
That's because what we call 'sustainability' -- adapting behaviors that keep in mind the welfare of the environment, the earth, and its living beings as we go about our lives -- is not a fad that will just disappear after its popularity fades. And here's why:
IT'S A MILLENNIAL WORLD
It's no secret that Millennials, those born between 1980 and 2000, have exceeded Baby Boomers as the largest generational cohort in the US since 2015. And along with that honor, they represent a major purchasing power both domestically and globally.
What's more, since 2015 the presence of Millennials in the workplace has surpassed that of Generation X.
The result: One out of three individuals in the workforce is a Millennial.
WHAT THIS MEANS
There's no way around it: Because the Millennial presence will dominate in the workplace for years to come, there's no room for employers to avoid the expectations of this generational cohort.
For example, corporate sustainability is a huge priority with Millennials.
Here are just a few statistics about Millennials that all employers should keep in mind:
- It is projected that Millennials will make up almost 50% of the workforce by 2020.
- 65% of Millennials will turn down a job if the employer doesn't have strong corporate social responsibility (CSR) practices AND
- about 76% of Millennials place high importance on a company's social and environmental commitments when they are deciding on where to work.
CSR 101: WHAT ANY BOSS SHOULD KNOW
So if you're serious about attracting top Millennial talent, you've got to get up to speed quickly on your CSR.
For the unfamiliar, corporate sustainability is akin to corporate social responsibility and sustainable development. Organizations that are serious about corporate sustainability work hard to attain excellence in these areas:
- Climate change and environmental footprints
- Fair pay and community
- Workplace equality
Looking at these categories, you'll note genuine corporate sustainability draws from recent advances made in both the hard sciences and social sciences. In fact, the goal of sustainable practices is to protect our environment and human health.
You'll see this goal in an organization's efforts to produce eco-friendly products through the implementation of green technologies. At the same time, as this Harvard Business Review article explains, sustainable practices are becoming the very thing that drives innovation and economic growth.
Adapting sustainable practices sounds like a pragmatic approach for businesses to attract high-performing Millennial talent. Nonetheless, it actually takes dedication and long-term effort for an organization to seriously and successfully engage in these practices.
HERE'S AN EASY WAY TO START
A great way for any company to take that first step forward is to introduce tools in the office that reduce paper usage. Making our Wipebook products available for your employees to solve problems is the perfect way to unleash their creativity, increase their productivity, AND cut down on paper for example.
That, my friend, will put you and your organization on the road to practicing corporate sustainability.
And after fully and successfully implementing sustainable practices, you'll be able to draw in all the top-performing Millennial talent that your organization will need to flourish in the 21st century.
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