For many years a business’s success was measured only one way - financially. The idea that the only goal of a business is profit is an outdated idea that some companies still cling to. Such companies believe that profits and sustainability are mutually exclusive, you can’t have one if you want the other, and opt for profits. In fact, integrating sustainability into your company’s strategy will make your company more successful and actually increase profits long term.
That’s the idea behind our new course, the Future Fit Business Benchmark, which gives you ways to measure your company’s success beyond simply the financial aspect. The course will show you how to make your business more sustainable today so you can avoid the problems of tomorrow. In this article, we’ll explain how our new program can improve your business while also benefiting society.
The Future Fit Business Benchmark contains 23 goals to accomplish as you move your company forward on the sustainability spectrum to complete sustainability. These benchmark goals are defined as Break-Even Goals, and collectively represent the minimum each business has to do in order to attain a sustainable society. Not only will accomplishing these goals make your business more sustainable, it will also improve your company’s brand and inspire employees, as well as stimulate further benefits for your business and society as a whole.
Applying sustainability practices to your business is also a great way to innovate. As you adapt your services and products to meet sustainable future fit goals, you will discover new ways of doing business that you would not have thought of before. Creating products that benefit the environment as well as society will open up new opportunities.
For example, Adidas incorporated sustainable design into their sneaker line and came up with a sneaker that’s 100% recyclable. They turned marine pollution into footwear by removing plastic from coastal areas and reusing it to make their unique line of sustainable sneakers. As of 2018, Adidas said they had prevented 2810 tons of plastic from polluting the oceans. You’ll be pleasantly surprised to discover all the ways future fit business goals can boost your business’s innovation when you begin to apply them.
Many organizations are now seeing the tangible value of sustainability in their cost savings. Large cost reductions often are the result of improved management of natural resources, such as energy and water, as well as waste reduction. In fact, the average public building wastes approximately 30% of the energy it uses. By applying a few sustainable adjustment practices, such as automatic lighting and seasonally controlled heating and cooling, your office building can significantly reduce its wasted energy.
Consumers today care more about the environment than ever before. They want the companies they buy from to not only provide them with high quality products, but also have a positive impact on the environment. A 2019 survey by CGS, a global provider of business applications, confirms that sustainability is important for today’s consumers. The results of the survey showed that consumers want sustainable products and one-third of those surveyed are willing to pay an extra 25% to have them. What’s more, over 50% of generation Z would pay more for a sustainable product. Businesses can charge higher prices for their sustainable products, up to 20% in some cases.
It is becoming more clear that businesses which integrate sustainability into their strategy see an increase in employee performance and loyalty, as well as improvements in recruitment and retention. This is in part because sustainable businesses are perceived as being more concerned about the success of the environment and communities they live in, which in turn is extended to the employees. Potential employees want to be part of a sustainable company because they know they will be taken care of.
Additionally, research shows that the modern employee wants their work culture to model their own aspirations and goals. They want to have shared values with the company and work on something they believe in while providing value to society. Such shared values build an organizational bond and shared interest in the company’s success. In fact, researchers found that organizations which have adopted sustainability goals saw a 16% increase in employee productivity.
Sustain Online’s Future Fit Business Benchmark offers an inclusive way for companies to reconsider their social and environmental impacts. Comprehensive future fit e learning is an important step in business sustainability education. The course will teach you and your team about each of the 23 sustainable business goals, how to attain them, how to use the Insights Tool to gauge your company’s progress to future fit goals, and much more. Time to make your business future fit is now, so get started.
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