If you’ve been following business trends, you probably know that sustainability has been making huge waves across industries over the past few years. The spike in popularity of eco-safe business conduct is the result of decades-long environmentalist campaigns and a recent rise of awareness about the benefits the switch to the green mode of operation entails for eco-minded brands. So, what gains exactly can your brand get by adjusting its operation to sustainable? Is the transition to the green mode truly worth it?
1. Brand Visibility
Green labels are a hot asset on the increasingly competitive market nowadays, and the shift to sustainable business mode will help your brand dial up its advertising game. In the 21st century, mindfulness and care for the environment sell like hot cakes, and environmental responsibility claims substantiated by valid certificates can be a smart branding tool which companies can use to leverage access to improved market visibility and a greater number of eco-aware consumers.
2. Tax Incentives
In view of promoting mass endorsement of eco-friendly solutions and activities, the federal and local governments offer various incentives to businesses who venture to take the green leap. As a brand embracing eco-safe design and features, your company can qualify for a cash grant, tax exemptions, investment-, production-, or consumption-based income tax credit or deductions, and accelerated depreciation for some capital expenses.
3. Customer Appeal
Consumers today appreciate green business ventures, and endorsement of sustainable business practices can help a brand boost its appeal in the eyes of potential and existing customers. On top of improved brand image, eco-conscious buyers will in some cases be ready to pay extra for services or merchandise marketed by brands which advocate green action. This means that the switch to eco-friendly business mode can increase your brand’s consumer base and total profits, both of which have a hand in the bottom line and business sustainability.
4. Long-Term Savings
Not only will use of eco-friendly features such as energy-efficient appliances and lighting, water-saving add-ons, and sustainable materials attract new clients, it will also help your brand secure long-term savings by shaving utility expenses by a fine figure. For example, using LED lights such as the ones on offer at Industralight can trim long-term lighting costs by as much as 70 percent, whereas going 100% energy-efficient with office tech can literally halve the energy bill. The two-fold effect on the bottom line makes endorsement of green practices a worthwhile investment in business sustainability, increased revenues and net profits, and future growth.
5. Talent Retention
As years go by, talented and experienced workers are getting increasingly sensitive to corporate environmental policies, and companies are finding it tougher and tougher to attract and retain crème de la crème staff by means of old-fashioned methods. That’s where eco-friendly business practices can come in handy; for millennial staff, environmental safety is a much sought-after workplace design element, and most young professionals will be glad to join a team serving a higher cause such as environmental preservation and human rights and not just profits.
6. Workplace Safety
Young professionals know that eco-friendly business practices are safe for both the environment and human health. They think highly of companies that don’t mind spending extra on green features that promote employees’ wellbeing such as eco-friendly flooring, environmentally safe workstations and seating, non-toxic paints, and energy-saving tech. In addition to earning your company a big plus in the eyes of existing and prospective staff, the shift to sustainable business practices will help boost workplace safety and slice absenteeism, allowing your brand to secure additional savings for stand-in staff wages and productivity drops caused by increased frequency of sick leaves.
Thanks to Chloe Taylor from SmoothDecorator.com for keeping us up to date on the latest business trends!
Photo Credits: Officesnapshots, Unsplash