Why sustainability matters for small businesses looking to attract talent
June 5 was World Environment Day, a day to remind us about the ongoing need to build a more sustainable future. For employers, it begs the question: what are you doing to address environmental challenges, and how can you contribute to the cause?
Fortunately, employers are being helped by government-funded initiatives like The Small Business Energy Incentive, set to benefit 3.8 million small- and medium-sized businesses. As well as helping to protect our environment, Minister for Climate Change and Energy Chris Bowen says the incentive will “help businesses save on their bills over the medium and long term.”
What is sustainability in business?
IBM describes sustainability in business as an organisation’s strategy to reduce the negative environmental impact of its operations. An organisation’s sustainability practices are typically analysed against environmental, social and governance (ESG) metrics.
Research by Commonwealth Bank of Australia (CBA) have highlighted the pain points small businesses are facing when trying to embed sustainability into their business model:
Cost of becoming sustainable: 61%
Finding sustainable suppliers: 30%
A lack of time and resources: 28%
Here are some simple (and, in some cases, free) ways to make your business more sustainable:
Go paper-free: Archive files, and advertise on your website and social media rather than printing brochures. Email promotional materials instead of posting them.
Reduce plastic: This is the theme for World Environment Day 2023 (#BeatPlasticPollution). Provide cutlery and kitchen utensils in the office, and invest in some branded keep cups!
Use products that don’t rely on natural resources or restrict use: Regularly monitor your air conditioning or heating use, and lower levels when you can. Install solar panels.
Recycle: Provide recycling bins, and use materials that are easily recyclable. Start a clothes or book swap. Hold regular collections to deliver to charity. Refill printer cartridges instead of replacing them.
Remind employees to be energy efficient: Use signs to remind everyone to switch off electricity when not in use. Install energy-efficient light bulbs or lights on timers that automatically switch off.
Avoid server energy use: Use cloud computing services wherever possible.
Reduce travel: Host virtual meetings, and work from home to avoid a commute.
Why will a sustainable organisation attract talent?
When it comes to looking for work, job seekers want more than financial gains and job security. People look for meaningful work in organisations that align with their values. For some, sustainability is a priority. If you demonstrate a commitment to sustainable business, it shows you care about the future of our planet and the people in it.
By including options like hybrid or remote working as part of your offering, you are reducing commuting emissions. This could attract an environmentally-conscious market of talent. You could also show your commitment by donating a portion of your profits to an environmentally focused organisation or cause.
Wrapping up
Business owners are recognising the benefits of sustainable practice, not only for the environment but also for their bottom line. According to NAB research, 1 in 5 small and medium business owners “strongly intend to improve the sustainability of their business over the next two years.”
Creating a more sustainable workplace can be achieved by making simple changes and including a few sustainable actions within your business strategy. Make sustainability part of your business objectives, and it will help enhance your employer brand.
How are you making your organisation more sustainable?
For more insights, visit the Heart Talent blog.