Eight Ways That Sustainability Can Be Profitable

Written by: Kevin Gardner

Saving money in your business is a priority yet protecting the planet you live on is as well. There are several changes you can make to your company that assists you with both of these. Whether they are changes you make to your business or the way you market, adapting sustainability to your organization can add profit to your business. Here are a few steps you can take to do this.

Marketing Value

You can use your sustainability in your marketing to attract potential clients to your brand. If you use recycled materials in your products, add this information to your packaging. Many customers will see this responsibility in a positive light and will be willing to pay more for the item. You can also add this data to your website along with any procedures you have done to add sustainability to your processes and facility. Those who are interested in your company and are conscientious about the environment will be more likely to purchase from you than from an organization less involved with conservation.

Cost Effective

There are many options that corporations can consider to cut costs while maintaining sustainability. Some are as simple as switching out your current light bulbs for LED bulbs that gave a longer life while using less electricity. Other options require an investment at the beginning, but promises lower utility bills while benefiting the environment. The initial solar panel cost to equip your facilities might be notable. However, it will be recouped by the money you save each month when your electric bill comes due. Evaluate the areas in your company where you can replace equipment with a product that will reduce the draw from natural resources while saving you money. Find money in your budget to implement them then notice your expenses drop over the next few months.

Future Employees

A younger worker pool will be attracted to a company that is more concerned about the environment than one that is known to harm it. This demographic of potential employees is far more technologically advanced than those you might currently employ and most likely require fewer benefits. This can help your company by lowering your employment costs while having a staff that can handle more assignments. Giving your workers a place they can be proud to work for will retain them for many years to come.

Higher Rent

If you are in the real estate or property management industry, promoting sustainable buildings can add more profit to your business. Clients in search of a place to lease or rent will appreciate a structure that boasts lower utility bills due to upgrades such as solar panels or energy efficient plumbing and fixtures. If you are covering these expenses as part of your tenant’s rent, this will mean less that you have to pay for what they use. Integrating nature into your properties can be aesthetically pleasing for those who visit. You will sell or lease a space with plenty of natural light far quicker than you will one that depends on artificial light. Customers will want to visit which means a higher profit and increased traffic for your client. While you may have to pay more to put these changes into place, these types of properties will help the world in the long run and add extra money in your pocket.

Advances In Technology

Computer systems can draw large amounts of power which affects both your electric bill as well as the environment. There are several innovations in technology that can reduce the need for extra equipment and consolidate others. Instead of utilizing additional servers to hold the information that your company needs to operate, consider using cloud services to network with each other, save data, and run the programs your employees use daily. Be sure to implement a reliable internet security program to protect your information from being hacked or stolen if you choose to go this route. Switching your information technology processes to the cloud will drop the amount of energy your company is using and will save you money. There are also utility companies that route both the internet and electricity through the same grid. Doing this saves the end user money and gives them the highest speed possible while they are on the computer. Research companies that do this and see if one is in your area. If they are, consider switching your account to them.

The Health Of Your Clients and Staff

Making these environmental changes to your business benefits your customers and employees as well as the planet. Adding natural lighting or switching to LED light bulbs makes it easier to see and reduces the strain on the eyes that fluorescent bulbs can have. This can also cut down on headaches that can come with dimmer light. Using a programmable thermostat keeps the room at a steady, comfortable temperature yet lowers it after your company is closed and your staff has gone home. Installing an energy efficient HVAC unit and maintaining it regularly provides clean air to those inside while utilizing less electricity. Customers are happier shopping in stores that put their health first. Employees are apt to work harder if they feel safe and appreciated.

Return To Simpler Processes

While high tech solutions can increase your sustainability as well as your profit, sometimes the best solution to benefit the environment is to go back to basics. Evaluate the way your company operates and see where there are areas that improvements can be made. Schedule equipment to be maintained on a regular basis. This prevents waste from polluting any local water sources or a machine from using an excess of energy to operate. It also keeps your company running instead of having to shut down for unexpected repairs. Purchase boxes constructed of recycled materials to ship your products in instead of brand new harvested paper. Be sure that your employees know to turn off lights when they leave a room or to shut down equipment when they are done with it. Plant trees on your property for your staff and customers to enjoy. These plants will also process oxygen back into the air to benefit the environment. These simple changes cost very little to implement. However, if you and your staff work together as a team, they can mean a greater profit in the end.

Have Faith

You may have the best of intentions to change your facility to be environmentally friendly. However, when you see all the areas that you will need to improve, it can be a daunting challenge. Take time to study how to implement these new items so that it is done efficiently. Evaluate the entire process as well as the final benefit that you will receive when it is working correctly. If you are unsure of the estimate of the profit that you will receive, reach out to the company that you plan to purchase the equipment from and ask for their help. Schedule each change so that you have time to get accustomed to it and see the benefit before moving on to the next. You need to bring in a profit to stay in operation and pay your staff. However, protecting the environment can add to your fiscal statement also. Changing your facility as well as training your employees will assist you in saving money as well as the planet.

Related: Can We Use Finance To Make Earth Green?