The word “love” isn’t one we expect to hear used in the corporate world to describe successful business models. But in my experience working with companies across industries and product categories, it may be the only word that matters.
In fact, I believe the need for business leaders to inspire love within their organizations and among consumers and investors is now more pronounced than ever. Rather than only prioritizing profits, companies today have an increasing obligation to consider how their products and business models impact both people and the planet. The demand for companies to address critical environmental, social, and governance (ESG) challenges, or sustainability in the broadest sense, has become so high that consumers are now willing to pay close to 10% more for sustainably produced products and services.
However, true sustainability is not a box-ticking exercise, nor is it something that any organization can hope to achieve in the absence of a deep sense of love for people, the planet, and even the products they produce. It’s about being purpose-driven and ensuring your dedication to and love for that purpose is consistently being demonstrated through actions and results.
Translate purpose into sustainability practices
Inspiring love through sustainability is, first and foremost, something you do. It’s an action, not a feeling. It requires establishing concrete goals, developing a road map for execution, and taking all the steps needed to succeed.
Maybe you’ve recently evaluated and reworked your pay structure at the corporate level to improve fairness. What can you do to ensure that fair wages and labor practices are being implemented transparently across the entire supply chain? Or perhaps you’ve made changes to prioritize diversity, equity, and inclusion (DEI) in the workplace. Are your marketing campaigns equally accessible and representative of all ethnicities, genders, and orientations?
Align action around a common goal
These are just two examples of the many things that need to be considered when creating an action plan around complex issues such as social justice and the environmental impacts associated with how your products are used and manufactured. Whatever actions need to be taken, the main point is that each area of your organization should align around a common goal. After all, the kind of love we value most in society is holistic and unconditional; it is given actively and freely to all without discrimination
Don’t underestimate what achieving true sustainability entails. It goes beyond focusing on one specific cause or outcome. Rather, the spirit of sustainability and your brand’s overall purpose should radiate in absolutely everything you do.
Of course, taking widespread action in the name of sustainability will look different at every organization. However, taking a hard and honest look at your company’s strengths and weaknesses will help illuminate where you should focus your attention.
Tell your sustainability story
When it comes to sustainability, actions speak louder than words. But that doesn’t mean that words don’t matter. Indeed, effective storytelling is crucial. I recognized early on in my career that a business’s actions become significantly more impactful when communicated in the form of a relatable and compelling story.
This is now truer than ever. In fact, according to a 2023 report, a record 98% of companies on the S&P 500 index published a sustainability report in 2022. Audiences today are far more critical of corporations and appreciate transparency and integrity. Increased access to global information has created a society that values trust above all else.
Be honest about failures and successes
This is a positive development: The purpose-driven actions of your organization can tell your story on their own. Moreover, provided that your actions and progress toward achieving sustainability goals are presented with transparency and authenticity, you have a powerful opportunity to capture the attention and loyalty of a consumer who is more likely than ever to not only publicly express support for your products but become emotionally invested in your brand and the core values it represents.
Despite the inherent complexity of creating and achieving sustainability goals, the overarching formula is quite simple: Businesses must embrace their purpose and act. Do your absolute best, be honest about your failures and successes, and above all, operate from a place of true, unmistakable love for all people and the environments we share.
Let’s rewrite the story of business, one built on love for a sustainable future for all.
Colleen Rooney is chief communications & ESG officer for Signet Jewelers.