More Fortune 100 companies are buying used office furniture as the circular economy reaches corporate America
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The term “circular economy” might be most prevalent among the free spirit Brooklyn set. For those unfamiliar, it's the practice wherein materials and products are reused, refurbished, resold, or donated to help reduce environmental waste of materials—and it may very well become a key part of talent strategies soon.
More and more employers are adopting “circular” practices in workplace design, such as repurposing, donating, or selling unneeded office furniture. In some ways, the practice can kill three birds with one stone, helping organizations meet sustainability requirements, reduce extra office spending costs, and attract talent who increasingly expect companies to broadcast their sustainability practices.
Of the Fortune 100's sustainability reports last year, 56 directly mentioned circular practices, up from 50 mentions the year prior, according to a recent report from Green Standards, a Toronto-based consulting practice that helps companies reduce waste by donating, reselling, or recycling old office furniture. The firm has partnered with companies like General Motors, Microsoft, and United Airlines.
Trevor Langdon, CEO of Green Standards, says return-to-office initiatives and any renovations that come with them have accelerated interest in circularity practices.
“There's always been turnover and renovations and things like that, but coming out of the pandemic and this redesign for the future of work, it's at a pace and magnitude that we haven't seen before,” he says. “When you combine the need for sustainability initiatives with the amount of change that is happening in workplaces, you get this sweet spot, this moment, where this is really important.”
Employees are increasingly expecting companies to share their sustainability values. According to a 2022 IBM survey, more than two-thirds of employees said they would be more likely to apply for and accept a job with an organization that they considered to be environmentally conscious. Just under half (48%) of respondents also said they’d be willing to accept a lower salary for an organization that they perceived as environmentally sustainable.
“I would say that four or five years ago when employees heard [about corporate sustainability practices], it was a pleasant surprise,” says Langdon. “Now it's increasingly becoming their expectation.”
Where companies sometimes fall short, Langdon says, is failing to make these practices part of their employer branding.
“It is a missed opportunity to do this great thing and then not get the right messaging out about it,” he says. “Get that narrative out to your employees so they understand the office they're walking into isn't just brand new and functional and looks great but was also done in a way that promotes circularity, reuse, and landfill diversion.”
Paige McGlauflin
paige.mcglauflin@fortune.com
@paidion
This story was originally featured on Fortune.com
