I’m lucky to work for a company that takes sustainability so seriously. I work for one of the largest conference organizers in the world and as you can image, the event industry creates waste. To combat this and other sustainability issues, my company engages in recycling programs, community engagement, women’s leadership events, and more.
Why take on such big initiatives? Simply put: 1) It helps the world; and 2) Being good is good for business. People like companies that care about the world!
In a 2015 Gallup survey of 1,527 random adults in America, they found out “the majority of people were three times as likely to express confidence in small business as they are in big business.” Caring about your customer’s perception of you is just one reason why a corporation should care about sustainability. A corporation tends to have more money/resources, so they can actually make an impact. A positive public perception is great but making an actual difference is much more important.
Social Sustainability – Is the wage gap that important?
This Investopedia article breaks down sustainability into 3 pillars: 1.The environmental pillar; 2. the social pillar; and 3. the economic pillar. What is sometimes overlooked is how much the wage gap between men and women comes into play. I strongly recommend everyone to watch this Vox video on the gender gap (also below), if you aren’t too familiar why or how it occurs.
I’m sure many people have heard that women make around 70 cents for every dollar a man makes. What you don’t hear often though is closing this gap will allow the world to prosper. I was actually at an event at Harvard Business School back in December that demonstrated how worldwide equal pay would relieve the world of all debt! This would be an enormous feat, but it would have a positive effect on our worldwide economy. Experts at the World Economic Forum predict it could take 170 years to close this gap but that doesn’t mean that this issue should be set aside.
What projects is your business undertaking to promote social welfare, especially in terms of female equality?