3/4 of Executives Willing to Forgo Portion of Salary for “Green” Initiatives, Global Korn/Ferry Survey Finds
LOS ANGELES, April 22, 2008 – Close to three-quarters of executives (73 percent) are willing to sacrifice at least one percent of their salaries to fund their companies’ “green” initiatives, according to the latest Executive Quiz from Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions.
The greatest number of respondents (40 percent) would be willing to forgo between one and two percent of their salaries. Though a small minority, three percent of respondents would be willing to sacrifice upwards of 10 percent of their salaries. Meanwhile, more than one-quarter (27 percent) of executives would be unwilling to sacrifice any portion of their salary to support sustainability efforts.
When asked about current resources their employers have dedicated to “green” issues, almost half (49 percent) of executives report that their companies have allocated existing staff, hired new staff, or done both. Today, this often includes introducing Chief Sustainability Officers into the C-suite. Fifty percent of executives who responded say their company has not allocated any resources to sustainability efforts.
“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.”
Interestingly, 69 percent of the respondents believe that “green” initiatives will take a back seat to profit-driven activities in these uncertain economic times. However, 29 percent believe that the current economic situation will not have an effect on “going green”.
Finally, more than three-quarters of these executives (78 percent) consider their employer at least “somewhat” environmentally-sensitive, while another 18 percent do not believe their company to be environmentally sensitive at all.
Methodology The Korn/Ferry International Executive Quiz is based on a global survey of executives registered within the firm’s online Executive Center, ekornferry.com. Respondents from more than 50 countries, representing a wide spectrum of industries and functional areas, participated in the most recent Executive Quiz in March-April 2008.
About Korn/Ferry International Korn/Ferry International, with more than 80 offices in 39 countries, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit www.kornferry.com.
