There are a lot of illogical yet reasonable actions in recent history. The
And there are actions, both logical and reasonable, but not always clear. For example, the company I co-founded, TECHIIA, recently joined the United Nations Global Compact, which includes
Sounds great, but not all entrepreneurs realize the potential in the sustainable development principles, though there are growth points for your business. Here, I will highlight two basic ones.
Developing Generation Z Awareness
Investing in sustainable areas has a positive impact on business results. According to a 2020
Based on my observations, one of the main reasons for this is the values of Generation Z. By increasingly setting the value agenda on the planet, young people are changing consumption patterns. For example, according to “The State of Consumer Spending: Gen Z Shoppers Demand Sustainable Retail,”
“Zoomers” (born between
Consumers today don’t just buy a product; they often look to build relationships with manufacturers with values: how you produce, how it affects the environment, what benefits you bring to the world. More than ever, consumers care about how ethical you conduct your business, how you build a team and how you respect its rights. Among business terms that may appeal to today’s consumers, especially Gen Z, include environmental friendliness, rational consumption, equality and ethics, work-life balance and availability of resources.
As a result, on a practical level, companies should at least have and adhere to a clear code of conduct. At TECHIIA, we
Appealing To Talented Employees Who Value Sustainable Projects
“Forget Millennials, Gen Z is the new golden child,”
The study found that, as of 2019, 77% of Gen Z respondents were interested in a company’s sustainable activities — in particular, whether it does harm to the environment. In 2017, this figure was 69%. Another study found that just last year,
Several years ago, we focused on two areas: the health of residents of the regions where our companies operate, and the education of future technicians. This is pure philanthropy. But it turned out that they are important not only for the direct participants in the projects. Many candidates tell our human resources professionals that they studied our social initiatives before submitting a resume or responding to an offer. We unexpectedly received an additional point in the eyes of candidates in an overheated market.
Finally, about the money. Research has found that active and consistent development of sustainable projects
But something else remains important. People who work with you or buy your product often want to be involved in positive change. They do not need slogans, but deeds: specific projects for the environment and human health, business ethics rules that are respected, equal opportunities for everyone. Bring them into your foundation and feel the benefits.
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