Jessica Kriegel, EdD, is Chief People and Culture Officer at Experience.com.
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Now—more than ever—corporations must show they care about workers' opinions on key issues to attract and retain talent. Amazon’s recent announcement that it is going to pay up to $4,000 in travel expenses for employees who travel to have an abortion and other medical procedures is just a recent example of how corporations are aligning themselves with social issues to attract and retain talent. Such stances are necessary in today’s new world order where an individual’s decision to accept an employment offer often includes a review of corporate positioning on social issues as more and more employees seek to align themselves with organizations that have a shared belief system.
Given the employment environment, corporations must take a clear stand on social issues to align themselves with high-end talent. Job vacancies are at an all-time high in the United States. In March 2022, the number of open jobs rose to 11.5 million—an all-time record according to the U.S. Bureau of Labor Statistics. Quit rates also rose to one of the highest rates, reaching nearly 4.5 million workers.
Social Transparency Is Key
For generations, social responsibility was an initiative for companies, but it really became front and center five or so years ago. It is now a talent attraction tool. Companies need to show they are passionate about causes that align with the people they want to hire and retain. Employees expect—no, demand—companies to take a stand to determine if they agree with those positions.
The Amazon announcement is a good example of this because it has a ripple effect. Now that the tech giant has publicly taken this position, it could very well become a question asked by prospective hires during interviews at other companies. The corporate response will be critical to the individual’s decision-making process.
It is all part of a greater emphasis on corporate environmental, social and governance (ESG) programs. ESG has become so essential, in fact, that corporations now publish governance reports that highlight their commitment to social issues, the environment, and diversity, equity and inclusion (DEI).
Creating A Win-Win Scenario
Executives can no longer be concerned about how publicly taking a stand on tough issues can potentially alienate employees and customers. If they stand on the sidelines, they could lose both. By taking a stand on issues they believe in, companies can, in fact, strengthen relationships with loyal employees and customers. Those who don’t share a company’s beliefs are not integral to a company’s long-term growth and success.
The Need For A Culture Of Support
This approach is part of a greater focus on creating a workplace culture that enhances a person’s overall life. To this end, more companies are adding wellness programs to support the emotional, mental and physical well-being of employees. Optional yoga classes, subscriptions to meditation and mindfulness apps, and similar programs complement this social conscious transparency.
Understanding Employees And Customers
The question is, “How do you know what employees, prospects and customers consider worthy causes?” Poll these targets during every step of their journey. By doing so, you can gather data in a timely fashion to make the best decision. Responding quickly to this feedback can be the difference between attracting and keeping your best employees and customers or losing them to competitors.
In short, companies must be the pragmatic center for social and economic progress. The time is now, and company leadership needs to be transparent and committed to making progress happen—or risk losing key talent and not being able to attract suitable replacements.
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