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Why corporates should take leadership on social issues

One of the top international accounting firms hosts a networking event to facilitate a graduate mentoring program that supports aspiring LGBTI business professionals. The world’s strongest global law firm brand facilitates a panel discussion on how to progress marriage equality in Australia. A big four bank runs a major advertising campaign to address the gender salary gap and advocates equal pay for women. A major telco (along with another two major banks) introduces a hijab in company colours as part of their corporate uniform.

Why should the likes of EY, Baker & McKenzie, ANZ and Optus care about social issues? Plenty has been written about why a social conscience makes good business sense. You only have to look at the Corporate Social Responsibility (CSR) or Diversity and Inclusion policies of any these leading organisations to see they’ve taken a strong proactive stance. EY, for example, says, “Our focus on diversity and inclusiveness is integral to how we serve our clients, develop our people and play a leadership role in our communities. When we act on our commitment to diversity and inclusiveness, we maximise the power of our differences to achieve better business results, for ourselves and for our clients.”

It’s not just clever marketing. While there’s some risk for brands associating with politically sensitive subjects, the risk is far greater for organisations who shy away from taking the initiative on important issues. It is proven that organisations who show leadership on social issues:

  • Improve their public perception and increase their public profile
  • Attract, engage and retain the best employees
  • Appeal to a wider customer base and enjoy better relationships with customers

Professionals in private employment make up a significant proportion of the workforce. Our products and services have the potential to reach customers across the entire population. While arguably our views are represented at various levels of government by those representatives we’ve elected, I firmly believe there is an onus in the corporate sector to lead conversations that will shape the kind of world we’d like to work in, and live in.

What evidence have you seen of the commercial and social benefits of your organisation’s approach to corporate social responsibility? How has your organisation demonstrated leadership on a social issue or positively represented your Point of View?

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Posted in The world @work