The Dividends of Sustainability

On December 26, 2019, in Items of Interest, Slideshow-Homepage, by Ashkin Group

This article, Finding Dividends in Unexpected Places,  was written by Stephen Ashkin and published in McKnight’s Senior Living Magazine.

 

A three-year-old study on how businesses can help build and market their brands reflects a trend that continues to grow in the United States. The Natural Marketing Group, a consulting group that focuses on sustainability and wellness issues, surveyed more than 53,000 U.S. consumers. They discovered nearly 60% of them would “consider a company’s impact on the environment when considering the purchase of goods and services and are more likely to purchase from companies that practice sustainable habits.”1

For care facilities, however, marketing does not mean just attracting patients and families. It also means attracting qualified staff, especially younger workers. In 2017, a CNN survey found that two-thirds of those between the ages of 16 and 19 would not consider working for the oil and gas industry, indicating organizations like this cause problems rather than solve them.

But even more telling is a 2016 Cones Communications study regarding millennials and employment. This study uncovered the following:

· 64% of millennials consider a company’s social and environmental commitments before deciding to work for an organization.

· 64% will not work for an organization that does not have strong corporate and social responsibility values.

· About 70% of U.S. workers say they would be more loyal to a company if it were socially and environmentally focused; the rate jumps to 83% among millennials.

This data tells us many things, but perhaps most important to a long-term/senior care facility, we now realize that doing good pays dividends in more ways than one.

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