Saving money and saving the planet don’t have to be mutually exclusive. In fact, there are several ways CFOs can save their companies money by making it more environmentally friendly.
They don’t have to be high-cost adjustments, either. How’s this for easy savings: Just switching up a couple of settings on your company’s computers can save you almost $200 per employee per year.
Quick fixes, quick savings
Here are a few tips on how to save money by going green, according to Entrepreneur.com. They’re all quick fixes with just as quick-to-realize savings.
Talk to your facilities manager to save money by making small adjustments around the office:
- Adjust your thermostat. During the colder months ahead, set the office thermostat to 68 rather than 72. And in the summer, set it to 74 instead of 68. Doing so can result in an annual savings of around $65 per employee. Consider sending out a company email recommending employees bring a sweater if they’re particularly affected by the cold.
- Rethink your light bulbs. To save $125 per employee per year, consider replacing traditional light bulbs with compact fluorescent ones or even longer lasting LED bulbs. These sort of bulbs last 10 times longer than standard light bulbs and use 75% to 85% less energy, so you’ll save on both accounts.
Here are a few ways Finance can get involved with going green and saving:
- Let your computers rest. Ask IT to set employee computers to sleep after anywhere from five to 20 minutes of inactivity. After 30 minutes, set them to hibernate. It’ll save you up to $178 per employee, especially if the nature of their work takes them away from their desks frequently.
- Reduce and reuse paper. Most finance departments are working towards going paperless. You can start small by encouraging employees to start printing on both sides and rely more on digital documentation. Doing both those things can reduce paper use in the office by up to 50%. That can add up to $160 in savings per employee.
Going green – and subsequently saving money – is a team effort. Encourage your employees to look for other simple ways they can cut back, whether it’s using scrap paper for notes or shutting off their computer when they leave for home. Every little bit helps!