Study finds that productivity-related profit outweighs higher property cost
Being eco-friendly has more than just environmental benefits - it can actually help small business growth, said a recent study.
Research from the University of San Diego's Burnham-Moores Center for Real Estate, in partnership with CB Richard Ellis, found that employees who work in LEED-certified, Energy Star-labeled "green buildings" are more productive and healthy.
The study found that 45 percent of businesses reported an average of 2.88 fewer sick days after moving to a green office - this translates to a net impact of approximately $4.91 per employee.
In addition, 54.5 percent of respondents either "agreed" or "strongly agreed" that their employees were more productive in the new green building - a net impact of $20.82 per employee.
"If you consider the benefits in terms of recruitment, retention of employees, less sick time and greater productivity, tenants should be willing to pay more rent for such space or require steep discounts for less healthy space," said research director Norm Miller.
Green buildings may represent an important business resource for Canadian firms, especially as labour productivity remained unchanged at below average levels in the second quarter, Statistics Canada reported this week.
