Why sustainability is crucial to corporate strategy

Hard as it may be to believe, the ‘sustainability’ concept as we understand it dates back to only 1987, when it appeared in the famous Brundtland report – also entitled ‘Our Common Future’ – which was produced by several countries for the UN. It defined sustainable development as ‘development that meets the needs of the present without compromising the ability of future generations to meet their own needs.’

The term consequently became common vernacular within the business sphere, and for many years has been acknowledged as a core element of corporate social responsibility (CSR). Discussion around it is now ubiquitous, with a growing youth voice and the continued expansion of the role of business in society rapidly gaining steam.

At a glance: what is corporate sustainability?

Corporate sustainability typically forms one of three pillars:

Environmental: This focuses on the impact a workplace can have on the physical world – for example: reducing its carbon footprint, implementing a recycling programme, reducing the use of paper documents or improving fuel efficiency.

Social: Central to this pillar is the wellbeing of all consumers, communities and most importantly – employees. It underscores the ethical responsibility businesses have to ensure their operations impact society positively.  

Economic: This delves into the long-term viability of a business. For an entity to be ultimately sustainable, it must be profitable and contribute value to its stakeholders. Decisions must be made not only with immediate profitability in mind, but also long-term growth and financial stability.

What benefits does sustainability bring to a business?

In terms of the impact on the environment – the benefits of sustainable business practices are perhaps self-evident, with reduced harm to our already besieged planet the most significant. But there are other benefits too. It can reduce business costs, improve your brand image, ensure compliance with regulations and attract top talent. 

Championing sustainability in your business is much more likely to make you an appealing long-term employment prospect to your current team, as well as potential hires and investors alike. People are much more inclined to be committed to the future of an organisation that cares about sustainability – because it’s the only future that’s possible if our planet is to be protected.

Will sustainable practices impact your relationship with your staff?

Sustainability feeds directly into your organisation’s Employee Value Proposition (EVP) – which affects how employees – or potential ones – feel about working for you. In fact, our latest Salary Guide research found that three quarters (75%) of staff say an organisation’s commitment to sustainability is important to them when they’re considering a new role. 

This highlights the importance of demonstrating your commitment to the future of our planet, whether this is in an environmental, social or economic capacity. This should not only be in the actions you take, but how you communicate these actions to both present and prospective employees.

How is Hays driving sustainability?

As an organisation, we are constantly trying to improve our impact on the planet, and believe that the drive to a more sustainable, low-carbon way of life to tackle climate change is vital. As a result, we became a carbon-neutral business in 2021, and our overarching targets for carbon reduction have been approved by the Science-Based Targets initiative (SBTi), putting us on a path to Net Zero carbon emissions. This is a global commitment across the Hays business and follows sustainability efforts in Ireland, including switching to renewable energy across our offices, moving to an electric car fleet and automating expense and invoice processes to reduce total paper usage.

In addition to making a positive impact on the environment, we’re also committed to creating opportunity within the communities we live and work in, and our employee volunteering campaigns provide staff with the chance to connect with local charities and support a variety of socially important causes across Ireland.

Of course, we are also a significant recruiter of skilled professionals into low carbon, social infrastructure and environmental, social & governance (ESG) roles, and are actively looking to grow our ESG-related talent pools, in a bid to help solve skill shortages globally.

To secure the passionate, diverse and skilled sustainability professionals capable of enacting real change within your organisation, submit an enquiry with us today.