As I reflect on our latest research in the wake of the 2024 presidential
election, one thing is abundantly clear: The US public is not backing away from
their expectations of corporate leadership on critical social issues. In fact,
they're doubling down.
The data — from a survey conducted by my firm, Carol Cone ON
PURPOSE, with The Harris
Poll — tell a compelling story. Nearly half of US
adults surveyed (46 percent) are calling for businesses to take on a much larger
role in addressing social issues under the incoming Trump administration. This
isn't just a liberal perspective — while Democrats lead this effort at 61
percent, 45 percent of Independents and a third of Republicans agree.
Certain demographics are more likely to look to companies to fill gaps when it
comes to social issues — particularly, Democrats (61 percent), Gen Z (58
percent), Hispanic (52 percent) and Black Americans (51 percent), and
urbanites (51 percent).
So, what exactly does the US public expect from companies in this next era? When
we asked, the mandate for business was clear: 83 percent of respondents said
organizations should focus on the issues that matter most to their employees.
This isn't surprising to me — a company’s employees are its most important
stakeholders. They're the economic engine of an organization and bring its
purpose to life every day.
Respondents next expected business to focus on the major challenges facing the
nation as whole, including healthcare and jobs (82 percent). The same
percentage want to see businesses direct more attention and resources to the
local issues affecting their communities, such as affordable housing to
quality schools. 81 percent said they feel companies have an obligation to
specifically bolster jobs, housing and education in rural areas.
We then asked respondents to prioritize 23 distinct social issues, both
conservative- and liberal-leaning, which we categorized into themed areas —
including health/wellbeing, family/social support, environment/sustainability
and education/digital literacy, among others. What strikes me most about our
findings is the emergence of clear priorities that transcend political
divides.
Health/wellbeing issues and family issues emerged as shared areas that unite us,
even in these politically charged times.
Health and wellbeing is the top priority area across political affiliations,
with 72 percent ranking these issues (which span mental health support, hunger
relief, curing and treating diseases, care for seniors and healthy eating) at
the top. These are fundamental human needs that resonate with most people,
regardless of party lines. Family and social support issues — think access
to childcare, military/veterans, fathers/families and vulnerable population
support — are the second-most prioritized area, at 45 percent.
Next comes what I call the “environmental chasm.” While overall, 42 percent
of Americans prioritize environment and sustainability issues, there’s a
27-point gap between Democratic (56 percent) and Republican (29 percent) support
for environmental issues — from protecting the environment, ocean
cleanup
and plastic
reduction to
cleantech
innovation.
This puts many companies in a precarious position: Faced with a mounting
climate
emergency
and increasing sustainability
regulations,
corporations must take decisive action while maintaining sensitive stakeholder
support.
The fourth area, quality education and digital literacy issues, found a more
narrowed gap — with 40 percent of respondents overall supporting action on these
issues. Here, Republicans (44 percent) led Democrats (35 percent) by 9
percentage points.
As I look ahead, I'm both optimistic and pragmatic. In my 35+-year career,
companies living their purpose through corporate responsibility has never been
so
crucial
— especially with anticipated cuts to critical government programs and
departments. The path forward requires companies to be equally strategic and
authentic in their approach. That won’t be easy, but my advice would be to start
by:
-
Making your corporate values work harder. Embrace the ones that are
lived daily. Utilize them to provide guidance for company operations,
employee behaviors and societal investments. Decide which ones are most
important and lean deeply into them. Is it time to revisit the
understanding/living of your values with
employees?
Are there too many? Do they need to be simplified?
-
Align social impact commitments with your organization’s competencies and
growth plans. Living company values provides a long-term view for societal
and environmental commitments. Companies we’ve talked with are being
attentive to the language of their current actions yet will support core
commitments beyond political
cycles.
-
Focus on issues that matter to employees. Create two-way communications
for ongoing listening, to understand needs and areas for program
adjustments, and share progress.
-
Do less. Go deeper for greater impact. Focus social impact resources —
funds,
people and products/services — for enhanced results by doing what is most
important to your employees and growth, and carefully sunset unaligned
initiatives.
-
Communicate results (we call them “proof-points”), both good and sometimes
not-so-good, transparently. Your stakeholders want to know about your
sustainability
efforts
— yet, no chest pounding. Let your most genuine storytellers — program
recipients and employees — share your impact.
-
Language does matter. “Lightning-rod” descriptors such as ESG and
DEI can
undo a company’s deep commitments to society, the environment and
diversity/inclusion and belonging. It’s ok to change terms — yet maintain
your authentic and growth-oriented actions, carefully segmented by
storyteller and place.
Companies that lead with authenticity and purpose, directing their resources and
influence to create meaningful impact, will be the ones that not just survive
but grow and remain resilient during the upcoming administration. Our research shows that the US
public are ready for this leadership — now, it's up to business to deliver.
The truth is, purpose isn't
partisan.
It's about creating value for stakeholders while contributing to a better world.
The question isn't whether companies should engage in social issues — it's how
they can do so most effectively while staying true to their core purpose and
values.
That's the challenge and opportunity ahead of us. Let's rise to meet it.
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CEO
Carol is internationally recognized for her work in Purpose and CSR. Carol Cone ON PURPOSE is the return to her entrepreneurial roots and life’s passion: to educate, inspire and accelerate purpose programs and impacts for organizations, nonprofits and individuals around the globe.
Published Dec 12, 2024 2pm EST / 11am PST / 7pm GMT / 8pm CET