Sustainability has become a hot topic for all companies, across every industry of serviced office KL. 62% of executives believe that having a sustainability strategy is necessary to gain a competitive advantage.
While the expectations on corporate responsibility increase, so does transparency. Leading to companies incorporating and recognizing the need to act on sustainability. Here are some tips on embracing sustainability in your company.
Corporate sustainability will touch all departments of a company as it addresses and reduces the environmental, social, and governance issues of a business. Building a dedicated team to undertake this role will ensure that it is done with efficient strategies and in an organized manner.
Depending on the size of your company, will determine the size and efficiency of your team. Having a larger company gives you the opportunity to invest in a professional team that specializes in corporate sustainability strategies, in order to create a long-term plan for sustainable success in the business. Having a smaller company creates limitations, however, recruiting your current employees who share a passion for corporate sustainability can create innovative ideas that can also be budget-friendly, and less risky.
Now that your team is set! Conduct a materiality assessment to assesses the social, governance, and environmental risks the company might encounter. In the sustainability world, the assessment helps companies identify issues, reaching out to internal and external stakeholders to share their input and company’s assessment during the process.
Answering these questions not only helps you establish a clearer indication of which areas the company should focus on, along with clearer sustainable goals to achieve.
Having an effective leadership team is essential to create and achieve your sustainability goals. These goals would be clear through research collected from your materiality assessment. Companies with ambitious goals provide a guiding light to employees and customers with clear organizational’s values and purpose. However, when companies fail to assume responsibility, the opposite can happen, leading to issues like environmental degradation, inequality, and social injustice.
The goals are not achievable if it was proposed by the sustainability team alone. Leadership support is key to achieve corporate sustainability goals, as well as making a positive impact in a sustainable business strategy.
The materiality assessment also enables your company to create a strategy. While sustainability strategies might be an investment in the short term, they can lead to long-term benefits. A strategic plan in terms of corporate sustainability could include, strategic integration, operational and organizational integration. strategies that support cost reduction, increase operating and energy efficiency, reduce environmental pollution, and preserve natural resources have been proven to be effective strategies for any company.
As proven, setting a robust sustainable strategy can help your team to achieve established goals, and mitigating potential challenges and limitations in the long term.
When collaboration is forged, it enables our company to maximize the success of our goals in a business. Having B2B collaborations specifically with sustainable brands, are key to ensure success for corporate sustainability and corporate image. By building partnerships and alliances can help leverage the company’s core capabilities, and integrates sustainability within the main business functions.
Working and helping your team also develops better decisions, and creates healthier relationships between employees to influence a positive environment to overall increase productivity and performance in a company. Once your goals and strategies are solidified, having collaboration in the work is key for sustainable efficiency.
With the faltering COVID-19 situation, many businesses are unable to predict their future office needs. Hence, businesses need to acquire more agility and now more than ever, the flexible workspace can help meet the demands of a new age of work.
Our Ultra Flex Solution makes it easy to work around unforeseen issues without having to commit to an office contract, easy contract exit strategy and quick refunds – giving your company maximum agility to retain cash flow and keep liabilities low. Stay agile and opt for our ultra flex option to be included in your lease.