Yesterday I attended the Fast Company Innovation Festival in New York. The opening session featured Dan Schuman from PayPal and Lynn Forester from Inclusive Capital Partners and the topic was stakeholder capitalism.
They called out Virtue Signaling,
Green washing, and Wall St hijacking ESG, are all the tropes of putting on a good show but not doing the work.
They talked about how in the 80’s, corporate focus shifted from employees to profits. And that now companies need to shift back to supporting their most precious investment.
Hearing idealistic business owners is music to my ears. Because business is so powerful, we can’t fix today’s challenges without it.
Maybe I’m a Pollyanna.
But if the trend to holding companies accountable continues to build, supported by a new generation that makes demands from their employer, then companies who don’t support employees, and walk the talk, won’t be able to attract the best employees.
To thrive, companies need to:
– Hire and maintain a workforce large enough to meet their work requirements so people have time to do good work, and mentor the next generation
– Train employees with programs that teach them how to work well with others and adapt to change
– Focus on being in integrity with the values they claim to consumers, stakeholders and investors
What a thrill to be in a space where leaders aren’t just talking about products and technological innovations but are talking about innovation that will help people be happier at work and deliver the results they want to deliver.
My best,
Claire
