New demands on companies to adopt sustainable practices
Consumers : More and more consumers are being influenced by social and environmental factors in the purchasing decisions they make . For example , 70 percent of Germans say that ethical considerations are important for their consumption choices , and for 20 percent , these have become more important since the onset of the COVID-19 pandemic . 12 A study published by Wider Sense in collaboration with the US consulting firm INFLUENCE | SG confirms this trend : approximately half of the German consumers surveyed expect private companies to carry out research on how a new product or service will affect the environment . 13
Workforce : For highly qualified and talented employees in particular , it is increasingly important that they find their work meaningful . 49 percent of people in the 21 – 34 age bracket prefer to work for a sustainable company . 14 Studies show that serious commitment by a company to corporate responsibility has a positive impact on employee retention , workplace motivation and productivity . 15 In terms of ‘ employee experience ’, the COVID-19 pandemic is also making a difference here , with 57 percent ( up 11 percentage points on last year ) saying that their company ’ s CSR activities are a decisive contributory factor to motivation at the workplace . 16
9