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Consumption is What Drives Our Economy

Think about all of the things that we purchase on a day to day basis, yet our appetite for consumption is insatiable. Sustainability, in recent years, has been trending globally and new initiatives prompting consumers and businesses alike to recognize their global impact have been gaining support. At home, consumers can do their part by looking to find ways to reduce the amount they consume, reuse previous purchased goods, and recycle items that are no longer useful.By adhering to these simple rules, consumers can reduce their carbon footprint and simultaneously promote environmental sustainability. However, consumers are only half of the story. For every good or service consumed, there is a business producing it. Sustainability within business incorporates many avenues, but in this post, environmental responsibility is what will be stressed. Corporate accountability is rapidly becoming a more integral part of business operations than ever before. So where do we start?

Let’s start with three numbers: 82-8000-732

82- According to a recent post published by the U.S Green Building Council82 is the number of Fortune 500 companies that have made the list of Green Power Partners. This list gages firms on the usage of energy conservation and renewable energy within their daily operations. This list is growing yearly after these companies realize savings in operational costs.

8000- U.S Green Building Council also shares that currently, over 8000 corporations in over 140 counties have joined the United Nations Global Compact for sustainability. The article also shares that the number of corporations that have joined this compact since the year 2000 is up 20,000%. This powerful statistic shows just how important sustainability is growing globally. Considering the fact that there are over 100 million corporations worldwide, growth in new members is not expected to weaken anytime soon.

732- A study recently published by world renown consulting firm McKinsey & Company emphasized efficiency in energy use as necessity. In fact, the study supposed that commercial and industrial users of energy efficiency could generate $732 billion dollars in energy savings by 2020. This reduction in operating costs would also result in the avoidance of 660 million tons of greenhouse gasses from being released into the atmosphere.

So why doesn’t every company switch to more sustainable business practices if it improves profitability?

The problem lies in a firm’s inertia to resist major changes and adapt as necessary. The transition to sustainable business operations is often expensive to implement initially however, realized cost savings in the future will soon outweigh initial investments. But here’s the problem, in today’s highly competitive business environment, if you’re not ahead, your behind. In the simplest way possible, firms must adapt to current and future trends or die. This ideology brings to mind a theory proposed by Charles Darwin called Survival of the Fittest. This philosophy can be applied to the free market economy of the United stated in the sense that firms most adept with current and future trends will survive and those resistant to change will dwindle in numbers. Darwin’s dogma rewards those who adopt early and lead by example.

But where can your firm start?

One simple way to begin your journey is to migrate your Human Capital Management (HCM) system to the cloud with SAP SuccessFactorsSAP is passionate about delivering long term sustainable business solutions for companies of all sizes. SuccessFactors will help firms not only reduce their carbon footprint by reducing the amount of paper business use for onboarding and performance and goals, but it will also help firms improve efficiency throughout the entire HR process. Implementation of SuccessFactors furthermore allows firms to be more competitive, scalable, and flexible with business trends. This off premise solution to HR and HCM can also reduce the necessity of firms to have entire rooms of energy zapping servers that may become obsolete and eventually need to be replaced as business expands. SuccessFactors moreover offers a fully integrated suite of modules that help your firm retain and reward talent that your firm already has.

AltaFlux is a Gold level SAP partner that provides industry best practices information with clients to promote success with every deployment. This trusted SAP SuccessFactors partner’s mission is to help your firm remain a notch above the rest while improving efficiency and retaining talent within your firm.

For more information about the passionate team or what we do here at Altaflux, visit our about page and get to know us and how we can help your firm here . If you like our posts, please subscribe and share or like it for others to see. If you would like to check out previous blogs written by me, click here.

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