Taking into account the increased environmental and social issues, the ever-growing expectations and changing shopping behaviours of consumers and the covid-19 pandemic, the burning need for organisations to build sustainability into their business strategy has gone from a ‘should do’ to a ‘must do’. Showcasing the environmental, social and governance policies and practices embedded within an organisation has never been so important, with the future wellbeing of our planet and society at the forefront. These factors are just reinforcing and fuelling the importance of sustainabilty and corporate social responsibility to organisations, especially in regards to long term business performance and resilience.
Organisations need to rapidly transform alongside new technology, the future of work, and changing consumer behaviours to continue meeting consumer and clients needs, drive innovation and employee engagement, as well as embrace opportunities to stand out and differentiate. With a lot at stake, and many benefits to be gained more organisations are investing resources into sustainability and CSR whilst making great attempts to build a strong strategy to deliver it. But how do you do this effectively? See our top tips below…
of consumers said environmental concerns influence purchasing decisions
of consumers expect brands to do the right thing in terms of engaging in sustainability agendas
of businesses expect their sales to grow over the next year from increased focus on sustainability
1. Align it with your business – the strategy, practices and policies of the company and sustainability efforts need to be aligned otherwise their will be lack of commitment and vision as well as failure to prioritise. The sustainability strategy needs to support rather than contradict what your business stands for, what you are trying to achieve overall as an organisation, and the goals and values you hold. If it does not make sense to your employees, consumers and other stakeholders, it could be harmful to your reputation and brand, as well as a waste of resources. That is why it is key to balance your sustainability initiatives and focus alongside protecting what you already have in place.
2. Shift mindset – many organisations still view sustainability strategy and CSR initiatives as something ‘nice to have’ in place for their business, to give off a good reputation. But it’s so much more than that, therefore it’s time to start thinking forward to 2030 and beyond. Soon it could severely impact business performance if sustainability fails to be built into company strategy successfully. The opportunity to create more efficient business operations, better meet the values and expectations of consumers, create more effective supply chains, increase resillience, enage in fresh thinking and take a more innovative approach needs to be embraced. It is a gap that many organisations are currently failing to address.
3. Engage employees – continuous communication and education of what is happening, the purpose and the benefits through regular internal dicussions with employees on sustainability strategy and CSR initiatives, can help foster an environment that holds open and transparent communication, providing clear information and clarity. This way employees can get involved suggesting their stance and ideas, contribute towards delivering sustainability agendas making them feel rewarded, and work in line with their own values. Not to mention resulting in increased employee productivity and engagement within the workplace, as well as being able to intergrate sustainability more easily throughout the business.
At Tessiant we hold strong experience in change and transformation, as well as senior industry leaders within our board advisory holding a wealth of sustainability expertise. We can help you identify your challenges, goals, and future desired state, to map out the vision and assess the risks. We can help devise a sustainability strategy and deliver it alongside your employees, within alignment of your overall business strategy and goals.