Lessons from Corporate Responsibilty
This week the Huff Post published an article “5 Business Lessons from Corporate Responsibility.” Written by John Friedman, the article succinctly illustrates what Resonate believes, that business not only can do good, but can do WELL in the process of giving back to the community.
"Corporate Responsibility or Sustainability is more than the idea of ‘doing well by doing good’ it is a business strategy borne of the recognition that to be – and stay – competitive in a global marketplace one needs to compete for the hearts, minds, and souls of employees as well as customers."
Friedman reports that the new generation of millenials entering the workforce and their values are having a major impact on the way businesses operate.
Since human resources are often businesses biggest assets, how can businesses respond to and get ahead of this ‘new wave’? Friedman’s five points for business success are outlined below.
The Bruce Wayne/Batman model is passé – People are often split into two lives; their ‘work’ selves and their ‘altruistic’ self. In some cases you see this at the end of a career, when people feel compelled to give back. Or you see it during a person’s career, when they volunteer or do good on their ‘own’ time after work and/or on weekends. Today we’re seeing an increase in people who want to not only ‘live their values’ at work, they want to ‘work their values’ as part of their career. Surveys show that the vast majority of MBA student s are bringing this desire to the job hunt. Just as prospective employers are encouraged to seek employees who match their culture, prospective employees are increasingly doing the same. The lesson traditionalists learned from the Great Depression was take any job, even one that is ‘beneath you’ to make ends meet. Many in today’s generation have learned a different lesson; and consider jobs only that are worthy of their time, talent and treasure.
Hire for passion, train for skill – If employees define a company, rather than hiring for specific skills that are needed, what is critically needed are values and passions that match the corporate culture. A talented naysayer is often more detrimental to the company than someone who gets ‘it’ but struggles to perform at full capacity. Those who share you mission and your values are critical to your success. They are less likely to waste time and resources, more likely to offer suggestions on process improvements that support your mission, etc
Seek diversity of ideas – When you have people of shared mindset, there is a tendency for group think to take over. New ideas are needed to challenge the old consensus and to be open to new possibilities. This is the real business benefit from diversity and inclusion efforts – because more than making the workplace ‘look’ more like the community, it reflects the diversity of ideas, perspectives and values of all members of the community. Without this the Abilene Paradox may result; where people are so agreeable that you end up on a course of action that appeals to no one (including customers) by perceived consensus.
Reverse the pyramid – Most corporate structures are built like a pyramid, narrowing down to the ‘top’ management. One of the most enlightened leaders I ever worked for once took me into his office and turned the chart upside down. The image was clear – more than a thousand people’s futures – their hopes, their dreams, their mortgages and car payments – rested on the decisions of a few people. ‘Make a mistake, and you may be gone,’ he said. ‘But if I make a mistake, hundreds of people, and their families, pay the price.’ All corporate leaders ought to have this awareness reinforced occasionally, and extend it beyond their employees to their customers, the communities and ultimate the world. Because the decisions that they make need to reflect this responsibility.
Remember what you make is not what you do – A company makes certain products and/or services. They may be diversified or specialized, but they also need to remember that what they make is not the same as what they do. The products and services themselves have no intrinsic value – their value lies in their impact of peoples’ lives; both intended and unintended. Like the classic example of the three masons it is important to help employees to remember why what they are doing matters to people every day. The value that they bring to their task is far more than the ability to bring home a paycheck. And knowing how what you make impacts peoples’ lives is the core of defining your corporate responsibility – knowing how people who use your goods or services benefit from your products and maximizing that positive impact.
At Resonate we seek to help companies connect to meaningful volunteer opportunities that match ‘work selves’ to ‘altruistic selves’ and allow staff to ‘work their values’ as part of their career. Seeking to mobilise the few volunteer days per year granted by many companies, we arrange workshops and events to connect staff to local projects.
For more information about Resonate and how your company can engage your staff to give back, develop skills, connect to purpose and volunteer please follow us on Twitter, Linked In, Facebook or Instagram. For more information about the author of this article, John Friedman read here,
The Resonate Team