Many businesses are shifting their strategy as more consumers are realizing the importance of spending their money on brands that are operating with social responsibility in mind. According to a recent study, consumers are engaging more with socially conscious businesses, and over the past five years, there has been a 71 percent increase in online searches for sustainable goods globally. Meanwhile, 84 percent of customers think about a company’s ethics and values before making a purchase.
Adopting earth-driven values and ethical practices not only improves your company’s reputation, but it also helps you to provide a safe and fair workplace for all of your employees. What’s more, having a values-led business also benefits local communities as it fosters sustainable and inclusive growth. Here’s how conscious business choices support communities and redefine economic systems.
Protects Natural Resources
An eco-conscious business uses water, energy, and other resources more efficiently to preserve them for their community. One such company that has demonstrated its commitment to energy efficiency is Coca Cola, and the mega brand has made it a point to use electricity from renewable sources only. There’s also Google, which has maintained a 64 percent global average carbon-free rating across all of its data centers and offices.
Some people may argue that these businesses can easily shift to clean energy since they have the resources to do so, but the truth is, you don’t need a huge budget to make your shop or business premises more sustainable. Even startups and small companies can use less energy by switching to LED lights and energy-efficient appliances, improving building insulation, and implementing good habits such as turning off lights when they’re not in use. Businesses can also conserve water by installing low-flow toilets and faucets, and recycling grey water whenever possible. By conserving energy and water, businesses can safeguard resources for future generations.
Minimizes Waste
Waste generation rates continue to rise all over the world as households and businesses continue to discard a significant amount of unwanted or defective materials everyday. According to the United Nation’s recent Global Waste Management Outlook Report, municipal solid waste generation is predicted to reach 3.8 billion tonnes by 2050. Having too much waste and improper waste management practices can harm communities by endangering public health, polluting the air, soil, and water, lowering property values, and creating social inequality. This is why businesses should be more mindful and rethink their processes to avoid damaging ecosystems and quality of life in their locality.
Proper inventory can help businesses like restaurants and cafes to minimize waste since it prevents overstocking and spoilage. Meanwhile, recycling and keeping track of tech assets can prevent unnecessary purchases and extends the life of office equipment like printers and laptops. Note that millions of laptops and other electronic devices end up in landfills every year which result in significant CO2 emissions. If your business uses multiple tech devices, you can do your part to lower harmful emissions by implementing efficient inventory practices. Doing so not only helps to curb e-waste, but it also improves your community’s aesthetics.
Creates Local Jobs
Business leaders who want to make a positive difference prioritize hiring locally since this can provide stable employment for individuals and families within the community. Doing so also helps to strengthen community ties since it fosters relationships between your business and your town. What’s more, employees may feel happier and more engaged when they work close to home since they spend less time traveling to and from work, and they can stay easily connected to their family and friends.
Your business also benefits when you hire locally since it simplifies the hiring process. When you hire local people, you won’t have to deal with logistical challenges such as visa requirements, nor do you have to worry about finding housing for relocated employees. Hiring locally also gives you valuable insight on the local culture and consumer preferences so you can tailor your products or services accordingly. More importantly, prioritizing local hiring can endear your brand to your customers since it shows that you genuinely care about the community, and that you’re there to contribute to your town’s economic growth.
Conscious business choices can help to make communities flourish. Make ethical and sustainable decisions to preserve the environment and create jobs in your locality, which can lead to overall growth, success, and business longevity.