Career drivers and incentives are ever-changing, and arguably now so more than ever. On top of a fair pay package, a healthy work-life balance, and non-monetary benefits, employers are now encouraged to facilitate an internal culture that supports individuals’ interests and characteristics. One of these interests is sustainability.
This is part of a wider, and more general, trend towards sustainability. The products we buy and the services we utilise as consumers are becoming more sustainable each day. Banks offer us the option to designate savings towards more sustainable investments, coffee shops offer us discounts when using reusable cups / mugs, and a new market for second-hand clothing on the internet is becoming a hobby and / or business opportunity for many.
In a joint study by McKinsey and NielsenIQ, the level of interest in sustainability (albeit in the US) was quantified. More than 60% of respondents said they would pay more for a product with sustainable packaging, whilst 78% of respondents stated that a sustainable lifestyle is important to them.
It is clear to see a profit-driven desire for businesses to incorporate sustainability ideas and ideals into their operations, which in turn creates roles and tasks for those with an interest / specialism in sustainability.
Leaders of the future is not a term necessarily defined by age or experience, but an ability to incorporate sustainability, amongst other social and governance elements, into the general decision-making process of a business. As with most leadership roles, the more freedom given to an individual to explore opportunities and put into effect new developments, the more effective the outcome.
It is therefore important for businesses now to consider:
- How important is sustainability in their current business model?
- How important will sustainability be in their potential future models?
- Who (if anyone) and what (if anything) can be put in place to facilitate any changes?
In summary, there is a clear trend towards sustainability in business, both in how money is made and what it is spent on. Successfully steering a business through the changes associated with this trend is therefore likely to require some level of focus on ‘who and what’ can be put in place. Attracting and recruiting the leaders of the future into a business is certainly an important factor that is part of this.
Jack Ormesher
Trainee Solicitor
Trethowans
www.trethowans.com