Sustainability in Procurement

In today’s rapidly changing world, sustainability isn’t just a buzzword; it’s a necessity – and within the recruitment space is no exception.  The choices businesses make in their procurement processes have far-reaching consequences for the environment, society; and the bottom line.  We have noticed that it’s becoming more frequent for candidates to seek roles within companies that are environmentally friendly. Therefore, it’s becoming even more important to consider sustainability within your procurement practises.  This demand is only going to increase so it’s good to get ahead of the trend.

Here is why sustainability in procurement is not just a good idea, but imperative to any business.

  1. Cost efficiency

Sustainability and cost-efficiency go hand in hand. Sustainable procurement often leads to long-term cost savings. For example, investing in energy-efficient equipment reduces operational expenses and minimising waste reduces disposal costs.

  1. Compliance

Laws and regulations related to sustainability are becoming more stringent. Ignoring these requirements can lead to legal troubles, fines, and perhaps most importantly reputational damage. Sustainable procurement helps ensure compliance, safeguarding your business from legal issues.

  1. Builds brand image and innovation

Sustainable procurement drives innovation. Suppliers offering eco-friendly products and services often provide innovative solutions that can set your company apart from the market. This builds a positive brand image for your business and builds a good reputation for yourselves.

  1. Risk mitigation

Businesses rely on vendors for services & products to function therefore the procurement team needs to be prepared for any supply chain disturbances. These disruptions could impact the organisations’ ability to fulfil their commitments.

Global supply chains can be vulnerable to disruptions, whether due to natural disasters, political instability, or other unforeseen events. Sustainable procurement diversifies suppliers, reducing risk by making the chain more resilient. It also addresses potential risks related to environmental damage, labour disputes, or unethical practises which can lead to reputational damage.

  1. Employee engagement

It’s been suggested that employees are more motivated and engaged when they are working for a company that values sustainability. It fosters a sense of purpose and pride knowing that their workplace is contributing to a greater good.

  1. Environmental factors

The world is facing unprecedented environmental challenges from climate change to resource depletion. Sustainable procurement professionals prioritise environmentally friendly sourcing as it helps reduce greenhouse gas emissions and conserving resources. By choosing suppliers who prioritise sustainability, companies can significantly lower their ecological footprint. Contributing to a healthier planet for future generations.

By staying ahead of sustainability trends, you position your business as a leader in the industry. By being a leader attracts environmentally conscious customers, partners and broadens your professionals who would want to work for you.

We are finding that employees are requesting to work in companies that practise sustainable procurement and/or is a B Corporation. If you have sustainable practises the next step is showcasing your sustainability to entice candidates. One way to do this is to register your company as a B Corporation. This means you can showcase your certification on email footers along with a statement of your practises. Emphasise your promise on career pages and include it on your socials. This will encourage candidates to work for such a progressive company.

Follow our social media and stay tuned to find out what a B-Corp company is and how to become one. This will help to attract and retain procurement professionals.

 

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