August 19th 2019 might not be especially memorable for most – especially with this year’s seemingly never-ending intense news cycle – but it’s a date memorialised in corporate history. Rightly so. On this day the Business Roundtable – an organisation of major US CEOs – went public with a wish to challenge their own orxthodoxy.
According to the business honchos’ joint statement, Chief Executives of Walmart and JPMorgan Chase amongst them, their purpose was no longer just about providing best value to shareholders but to customers, staff, suppliers, communities and the planet, too.
For some, it might come across as a cynical move: branding to show that those benefiting most at a time of rising inequality and increasing precariousness do care; branding to convince customers to continue spending money with them, and for talent to either stay, or join. Whilst that may be true, this fairly big move for those at the top is fairly indicative of a shift in attitudes towards business.
Staff, younger ones especially, want to work for firms with a moral and political aim. With a backdrop of climate insecurity, a health pandemic, and political fracture it’s no surprise. Many people want to play their part in solving these problems and believe earnestly that organisations should play their part. This is what this issue of HR Grapevine magazine explores.
From how businesses create a purpose to what the recent widespread support of Black Lives Matter protests mean for HR, our team of journalists chased the stories to help you understand if your branding is watertight or paper-thin – revealing what this means for culture and engagement. Of course, there’s an exclusive interview with the HRD at London Marathon Events too, as she reveals her drive and purpose.
As ever, stay safe and enjoy.
