While most companies understand the importance of providing value to their customers and doing honest business with suppliers and partners, some don’t invest enough in their employees. A business with long term success will invest in their employees and their communities because we don’t just live in the community – we are part of it. An economy that benefits the least among us helps us all.
Corporate responsibility and work ethics in business has been a hot button topic when it comes to recent elections, and it will continue to be a hot topic in the upcoming 2020 election. Other important issues include gender and racial equality as well as environmental safety. Ways to help reduce the amount of income inequality is also a huge topic when it comes to business conversations. Reducing your carbon footprint not only can help boost your bottom line – it helps ensure a better world for our future generations. This social responsibility reflects the evolving corporate culture and the culture of workplaces. This trickles down to investing in employees.
Investing in employees means more than just offering ways to get raises. It means offering better, more comprehensive benefits packages, fostering an environment of camaraderie among employees, improving the overall vibe of your office or workplace, encouraging open communication, and developing participation programs to help with employee health and well-being. Also offering family and parental leave for employees is important, as some companies don’t do that.
Taking good care of your employees is something that top CEOs recommend because taking good care of your employees will only help make your business better. There are those demanding a mandatory $15/ hour minimum wage as well. It can be a bit of a challenge for CEOs to increase wages and benefits packages while continuing to provide value to customers and good business deals with suppliers. According to a recent story from NPR, the sentiment from CEOs is that they are encouraging the notion that businesses should “move away from the view that shareholder profits trump all other goals. Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity.”
These CEOs are also encouraging the idea that businesses help redefine what the public thinks of corporations. It’s not as much as incorporating a new company policy, but more so evolving the way that corporations interact and involve themselves with communities.
While there are certainly many challenges facing companies and their CEOs, it’s encouraging to see that the conversations are happening. Clearly, most Americans feel that some changes need to be made for improvements to happen. Some would say that these conversations are long overdue. Only time will tell if these talks end up translating themselves into reality. It will be interesting to see how these conversations increase the closer we get to the 2020 election.