There are many benefits to going green as a business. Eco-friendly practices adopted by companies not only helped them show strong results on bottom lines, but they also improved employee morale and productivity and significantly gave a boost to their brand’s image and reputation.
Here are 9 ways by which going green can benefit your business:
1. Reduces Waste and Decreases Cost With Efficient Technology
Making use of efficient technology alternatives helps reduce energy usage at work and save money. Some environmentally aware companies employ these green technology:
- Commercial trash compactors to reduce trash volume and thereby reduce the impact of waste on landfills.
- LED instead of incandescent or fluorescent bulbs
- Occupancy sensors for lighting
- Replacing HVAC filters to save energy and also to prolong your system’s lifespan.
You can further reduce the energy use by turning off lights at the office when not needed and by printing on both sides to save on paper expenses.
2. Creates a Healthier Work Environment
Your employees are the most critical aspects of your business. With green technology, you improve their quality of life at work. Recycle paper options, paperless processes and paychecks, green technology, and green cleaning materials are a few options that show that you care about your employees as well as the well-being of your customers and the community as a whole.
3. Increases Productivity
Better conservation and use of resources streamlines operations, decreases costs and reduces CO2 emissions.Many companies have achieved high operational efficiencies and enormous savings after implementing more sustainable business practices.
4. Improves Employee Hiring and Retention
People who are environmentally aware want to work for companies that employ sustainability practices. Sustainability practices have become the underpinning factor in determining how ethical the company and its employees are.
A Global Study of Business Ethics by the American Management Association found that a corporate social responsibility program is one of the top five internal practices that can ensure an ethical corporate culture.
Adecco, an international HR company, says that 52% of employees feel that their companies should be more environmentally aware.
5. Enhances Brand Image and Increases Competitive Advantage
Consumer research by The Natural Marketing Institute, a strategic consulting partner, says that consumers are 58% more likely to purchase a product or service if they know that the organization is mindful of its impact on the environment and society. The same research also showed that consumers are willing to spend 20% more on environmentally-friendly products and services.
6. Helps you Earn Eco-friendly Rebates and Incentives, and Tax Benefits
Adopting green technology can help your business to qualify for various benefits, including tax-related benefits in the form of deductions and credits, special rebates, and incentives. Check whether your state/federal government runs such programs and determine whether you qualify.
7. Attracts Green Customers
Many consumers have adopted the eco-friendly way of living. This has generated boundless opportunities to incorporate sustainability into your brand through innovation. Studies have revealed that businessesthat are environmental-friendly attract green customers and earn their lasting loyalty.
8. Helps Establish Community Relationship
Going green is a corporate responsibility that can help you establish vital community relationships and strengthen local bonds. Helping those in need in your local community works to be the best way to improve your brand image and earn the trust of your employees.
9. Meets Legal and Regulatory Compliance
In an attempt to keep the earth green, many states and countries have laws that mandate environmental compliance. The Environmental Protection Agency launched its 2020 Action Agenda to reduce carbon emissions and promote sustainability while incentivizing companies for being ahead of the green curve.
Going green gives you an edge over your competition, attracts customers who are environmental-aware, saves money while minimizing the carbon footprints.