Why Employers Going Green Will Bring in the Green ($$)

In recent years, consumers have become much more environmentally conscious; one report even discovered that 90% of Gen X would be willing to spend an extra 10% or more for sustainable products.

This rising concern for the environmental wellbeing of the planet is also having huge effects on the world of work – especially when it comes to attracting and retaining talent. For example, Deloitte’s ConsumerSignals survey found that 27% of workers will consider a potential employer’s position on sustainability before accepting a job. KPMG’s research further strengthens this notion, as they discovered that one-third of young people reject job offers based on a business’s sustainability stance.

So, when it comes to attraction strategies, employers need to be considering their environmental, social and governance (ESG) initiatives, and ensuring that these initiatives are clear and transparent to potential new hires. More specifically, 69% of employees are looking to see if their employers are investing in efforts such as reducing carbon, using renewable energy, and reducing waste.

At the same time, nearly half of Gen Z workers (48%) said they would consider leaving a job that did not follow through on its promises on sustainability. Whilst having a clear commitment to environmental sustainability helps attract talent, following through on this commitment is key to retaining that talent.

And this sentiment is not just limited to younger workers. A report from Unily revealed that 72% of multigenerational office workers expressed concerns regarding environmental ethics, and 65% indicated a greater inclination towards working for companies with robust environmental policies.

What we are seeing is that eco-friendly companies are in high demand across the board, meaning that for employers, doubling-down their environmental support efforts are going to play a huge role in attracting new talent, and retaining current talent. And considering the fact that green jobs – which are defined as roles focused on sustainability and environmentally-friendly activities – now make up a third of job postings in the UK, it’s clear that the working agenda is becoming greener as time goes on.

For those employers who aren’t able to offer a ‘green job’, there are still other ways they can help the planet. Whether this be through tying their charitable initiatives to an environmental cause (this will also help to tick the ‘Social’ box of ESG!) or creating a roadmap to reducing their carbon footprint, there are a number of ways that going green will translate into profitability.

If you would like to discuss how we can help support your company with its environmental strategies, please get in touch with us.