Small businesses can benefit from sustainability as much as large companies. Employees continue to want to associate themselves with sustainable companies. Small businesses are always interested in attracting and retaining talented individuals. Employee loyalty and retention are less tangible, but equally important benefits to going green. A sincere sustainability strategy will help companies attract top talent. A recent survey revealed that 81 percent of MBA students polled said that business should work toward “the betterment of society.” In a Stanford University survey, MBA students who were polled in North America were willing to forgo an average of $13,700 to work for a company with a better environmental reputation than most. Attracting competitive candidates without raising starting salaries directly enhances a company’s bottom line. Commitment to sustainability promotes the company’s reputation as a socially, economically and environmentally responsible organization.
Organizations of all sizes have an impact on the environment. Additionally, they can influence over their suppliers and vendors and can inspire their employees and stakeholders. Small businesses are more connected to the community, because of this they require more from the community and therefore can give more to the community.
Companies that look out for the triple bottom line position themselves as sector leaders, lower operating costs and increase revenues. Sustainable practices are not limited to high-energy, high-resource businesses. Small and mid-sized businesses represent 85 percent of the U.S. economy. In fact, 99.9 percent of businesses in the U.S. contain 500 employees or less. Many of these businesses are office-based, service-based or non-manufacturing enterprises. A well-conceived green strategy is based on certain fundamentals, and small, non-resource intensive firms can customize these fundamentals to achieve highly specific growth results. USA Today reports on how small businesses are using green strategies.
The cost is not what keeps more business owners from investing in sustainability; rather it is a lack of knowledge or the belief that small service businesses do not significantly impact the environment. The fact is, most initiatives will yield profits or savings far beyond the cost of implementing them.
The ROI of going green can be more sales, increased market share, enhanced visibility, happier employees, and a better brand. Cleaner air, a healthier climate, and a better future for your kids are not bad benefits, either.