In the last blog entry, we explored success metrics and discussed how to measure them effectively. This time we want to drill down a little deeper into one specific category of metrics. We will investigate sustainability and the impact that sustainability has on customer and employee satisfaction. So, are your success criteria sustainable?
The Changing Perception of Sustainability
It wasn’t that long ago that organizations viewed sustainability as a negative. When these organizations face requirements to build sustainability into their products or services, they minimize disruption and financial impact in the process. If the company didn’t require them, it would take consumer pressure for it to even become a consideration. Now, that’s changing.
Today, there is increasing recognition that sustainability can be a differentiator for organizations. Consumers are increasingly expecting companies to be more socially aware in their business practices. That means sustainability can drive sales, customer loyalty, and financial performance. And it’s not just customers. Employees are also looking to align with organizations that share their values. Organizations aim to achieve more than just making money, and employees see enterprises that embrace this vision as preferred employers. That can result in lower staff turnover and even potentially lower employee costs.
These tend to be, pardon the pun, sustainable benefits as well. Companies that demonstrate a commitment to sustainable practices tend to have more loyal, and more satisfied customers. Employees tend to be more engaged, driving productivity and helping to create a culture that promotes further commitment.
Integrating Sustainability into Business Operations
To optimize the benefit of this ongoing shift, organizations need to make sustainability an integral part of how they operate. It can’t simply be a bolt-on for some of their products, services, and operating practices. That’s where project portfolio management (PPM) software comes in, and it takes us back to that previous blog post.
In that post, we explained that organizations should define the business benefits for every investment upfront and include details on measuring performance. When organizations include sustainability metrics and associated measurement criteria as part of those strategic priorities, a number of things happen.
• By clearly communicating priorities and investments to stakeholders through roadmaps and similar tools, organizations can align everyone in the enterprise on the importance of sustainability and the financial targets for the next period.
• Sustainability and related goals and objectives can become a part of every investment that the organization makes in projects and related initiatives. Whether it’s a commitment to reduced packaging, recyclable or recycled materials, renewable energy use, or any other sustainability-related metric, there is an opportunity to tie work directly to sustainability goals. The PPM solution provides context for everyone working on projects to see how they are directly contributing to organizational goals, including sustainability.
• Because everyone involved in project delivery from executive to junior team member recognizes the importance of sustainability, they incorporate best practices into their individual contributions. This approach strengthens the culture while redefining work to make sustainability a core element of how tasks are completed. Organizations can see improved returns on investments in their strategic portfolio, directly linking them to specific initiatives tracked in the PPM solution.
Transforming into a Sustainable Enterprise
In a short period of time, the organization can transform from one committed to improving sustainability to a sustainable enterprise. They can be a business that has sustainability built in. That becomes a performance multiplier as it leads to even higher levels of employee and customer trust. That results in greater satisfaction, improved employee productivity, and less customer churn.
The simple truth is that in today’s world, sustainability isn’t a niche strategy aimed at doing the right thing with minimal negative impact on financial performance. It’s now an enabler of the levels of financial performance that simply can’t be achieved consistently without it. Or at least, it is if you can manage it effectively in your PPM solution.
