Sustainability is a more and more popular concept in recent years. While it was once less mainstream, now companies are encouraged, and in some cases legally required, to consider the planet when making business decisions. The benefits of being environmentally friendly are obvious. We all have to live on this world, so we might as well protect it. But there are also some surprising financial and marketing benefits to being more environmentally conscious as you run your business. We have listed 4 benefits for you.
By Team Savant
Image: Vanicon Studio
Efficiency and Sustainability
Efficiency is often touted as one of the keys to success in business, but what do we actually mean when we talk about being more efficient in the workplace? In short, efficiency means cutting down on waste wherever possible. We’ll talk more about actual waste management later, but efficiency can also talk about wasting time and energy as well as materials.
In a world where time is money, it’s kind of obvious how using less time can be effective for your company. If you waste less time, you can do more projects, earn more money, and you aren’t paying wages for wasted time.
However, another way that efficiency can save money is when we consider utilities. If you own or rent any property, you have to pay utility bills. Usually this includes electricity and water, and sometimes it involves gas.
If you cut down on how much energy and water you use, it stands to reason that you will also save money. So, think about how much energy and water you use unnecessarily. This might include dripping faucets that waste water and cash with every moment. Or it might be an empty building that is still lit, heated, and has every device switched on.
Use smart systems to track the energy and water usage in your company, and then switch off unnecessary devices when they aren’t being used. The seconds you save by leaving them on all the time don’t add up to saved money.
Design your business for the future, not just the present. So, when expanding your business, think about how much power and water will be needed in your new facilities. Consider setting up solar panels to not just reduce your costs, but also reduce your reliance on unsustainable energy sources.
Reputation and Marketing
As well as saving money, you can build a good reputation with your customers, employees, and investors by focusing on sustainability first. People like to support businesses that share their values, and more and more people value eco-friendly products and services.
By actually putting your money where your mouth is and making changes to be more sustainable, you can gain a customer base. Some people are even willing to pay a premium if they know that the company they support is doing what it can for the planet.
You might also get extra benefits and grants from the government for taking on these practices. This could be tax breaks or discounts on schemes like solar panels, so don’t be afraid to do your research.
Postage and Packaging
If you manufacture and distribute products, you have to consider not just the products and manufacturing process, but also how they’re packaged.
Plastic packaging is a landfill monster, as it doesn’t degrade and just slowly releases microplastics into the environment. In recent years, we’ve seen a rise in both recyclable and biodegradable packaging systems, which are just as protective as plastic.
It’s a small change to make, but it can do wonders for your company and your customers as they are able to recycle or even compost the packaging.
Waste Management
Speaking of better waste management, it’s also important to think about the waste your company generates directly, rather than just the waste you send to customers in packaging.
Simply put, you need a waste management system. First, look for ways to cut down on waste. Increased efficiency in the manufacturing process saves you time and money as it cuts down on the amount of materials you waste when making products.
Try to reuse and recycle as much waste as possible to reduce the amount of waste that will end up in landfills. You can also make waste easier to manage by using Waste Balers to compress your recyclable waste, so it’s cheaper and simpler to send to waste management companies. Responsible waste management is good for your business and the environment as well, and it’s yet another way to plan for the future.