Having a sustainable business goes beyond bringing about positive change; it may also help your company. Below are just a few examples of how adopting a socially conscious business model or mission may positively impact your company.
- Your employees will be happier. According to Forbes, 32% of employees would seriously consider leaving their job if their company gave no or little money to charity. Additionally, 65% would seriously consider leaving their job if the company harmed the environment, and 83% would seriously consider leaving if the employer utilized a form of child labor. Sustainability and social responsibility also greatly improve employee morale, loyalty, and retention.
- Consumers will pay for better business practices. According to Forbes, more than 88% of consumers believe that companies should try to achieve their business goals while improving society and the environment, and 83% believe companies should support charities and nonprofits with financial donations. If a consumer knows and understands that a business or corporation is making donations or practicing sustainability, they are more likely to utilize your service or product.
- It sets you apart. Choosing to be a socially good and responsible company will help you differentiate yourself in an already crowded marketplace. According to the Harvard Business Review: “Strategy is about choosing a unique position—doing things differently from competitors. These principles apply to a company’s relationship to society as readily as to its relationship to its customers and rivals.”