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73% of Execs Would Take Pay Cut to Support Green Programs
July 9th, 2008
July 9, 2008 - Three out of four executives are willing to sacrifice at least 1% of their salaries to fund their companies green initiatives, according to a survey from Korn/Ferry International, a leading staffing firm.
While executives are willing to personally contribute, many note that their companies were doing their part as well. When asked about current resources their employers have dedicated to green issues, almost half (49%) of executives report that their companies have allocated existing staff, hired new staff, or done both.
However, according to the survey, there appears to be a belief that corporate leadership may feel green initiatives cannot equal revenue. 69% of the respondents believe that green initiatives will take a back seat to profit-driven activities in these uncertain economic times. Only 29% believe that the current economic situation will not have an effect on going green.
Clearly, the high number of executives willing to personally contribute to their company s green initiatives signals a change in thinking around the importance of sustainability today, said Jay Millen, senior client partner with Korn/Ferry International. While there is room for much progress, we are seeing companies dedicate top talent and resources to promoting sustainability and corporate responsibility.