A new generation tipped to change how corporations operate

Purpose-driven companies now employers of choice for Gen Z workers committed to climate change and sustainability

Millennials will change the tone of companies as they move into leadership roles. Picture: iStock

The next decade will see a dramatic change in business as Millennials advance to leadership roles, according to Mick Hase, a management consultant, coach and social entrepreneur.

“When the Millennial generation starts to turn 40 and 50 and they have been in their roles long enough to work up the ladder, we’ll see an even greater change in the right direction,” says Hase. “There’s no doubt the younger generation is certainly speeding up. The stats are there – people will take a job for less money, if it aligns with their values and has the right things in place around climate and sustainability and inequality.”

Hase is the founder of SEVENTEENx, a company that runs events around the country to promote the United Nations’ 17 Sustainable Development Goals. This week, SEVENTEENx was held in Sydney with business leaders, change makers and entrepreneurs talking about their efforts to integrate the goals into their operations.

Hase says there is no cooling of interest in purpose-driven business even as the country faces an uncertain economic future.

Australia has dropped in the ranking of adoption of the United Nations’ SDGs, he says, but “what we are seeing on the ground is a highly engaged community of business leaders, both small and large, all working towards creating some of the big ticket items – climate, responsible consumption, diversity, inclusion.

“I think it’s bigger than a turndown in the cost of living – people are well aware of the opportunity that sits in sustainability. It’s not seen as a problem, it’s seen as an opportunity.

“We had an entire MBA class from University of NSW there (at the event), 30 students, and they were just jumping out of their skin being in a room with people who shared their values and were innovative. It’s like a positive mob mentality.”

Hase says government needs to support for-purpose companies that can sometimes face challenges raising capital: “It’s not necessarily the business models that are problematic, it’s more that there’s some barriers to the traditional pathways to scaling. I understand that government is a big beast, and it’s hard to turn the ship, but governments and big businesses, everybody, needs to be involved here. It’s a cross-sector challenge.”

Hase says that businesses need to stop talking about what they are doing and “practice what they preach”. And, he says they need to do so in a way that is “authentic and real”.

He says start-ups have usually “drunk the Kool-Aid” on sustainability so his mission is to “connect with everyone in the business ecosystem, to say ‘you can make money, there’s nothing wrong with making money but how can you do it in a responsible way?’”

He says the “beauty of the 17 goals is that they are not just about climate, it’s not just about gender equality, there’s a broad range of things. If you’re not really on the bus about wanting to fight poverty, that’s fine. I’m a surfer, I love the ocean so I have a natural affinity to want to look after the ocean.”

Hase says there is now clear proof consumers will pay more if they know a product is made correctly with sustainable values involved. He argues that companies don’t necessarily make less money by following sustainable practices but “it might mean you need to think a little bit harder about how you connect your product with your consumer and how you take it to market in the right way”.

The UN goals include achieving food security, quality education, gender equality, sustainable management of water and sanitation, affordable energy, safe and resilient cities and sustainable oceans and marine resources.