Employers who fund workplace, community, or national TB initiatives stand to gain directly and also enjoy reputational benefits, which are important in the era of socially conscious investing. Furthermore, TB can easily spread in the workplace and compound the economic impact. Absenteeism and employee turnover due to TB have economic ramifications for employers. Indeed, the majority of individuals with TB disease are in their prime years of economic productivity. Given the magnitude of India's epidemic, TB has enormous economic implications. That kind of accountability shows whether firms are walking the walk on gender diversity.India has the highest global burden of tuberculosis (TB), accounting for a quarter of the worldwide TB disease incidence. Then companies need to track diversity metrics much like they do financial performance. Executives who serve as advocates to open opportunities for women can play a big role. C-suite executives should educate themselves and their senior ranks about the implicit biases and barriers that women face. Women also don’t prioritize networking as much as men.Ĭompanies need to be more intentional – and start at the top. Men define effective leaders as “direct” and “decisive” while women emphasize those who “empower teams” and have a “collaborative” approach, according to interviews Oliver Wyman conducted with more than 160 senior female executives in the US and Canada and a cross-industry survey of men and women. The unwritten rules of winning promotions often leave women out. Firms can show they mean business by making diversity a true goal. They represent nearly one in two employees in industrialized countries, yet only one in four senior executive roles in North American companies is held by a female, and just seven percent of CEO seats at Fortune 500 companies. Inclusion and diversity programs are proliferating but many fail to produce results for women. Our customers and employees expect it, and we expect it of ourselves. It’s time for more of us to make those commitments. We’ve seen many business leaders focus on inclusion and positive change during the pandemic. The business community can’t prosper long term if political and economic divisions push us to the breaking point. They have every right to express their views on specific rules but blanket opposition to most regulation is neither sustainable nor productive. Greater transparency should benefit business and society.įirms also should reconsider their stance on regulation. More S&P 500 Index companies are providing greater disclosure and oversight of political spending, according to the Center for Political Accountability and the Zicklin Center for Business Ethics Research at the University of Pennsylvania’s Wharton School. There are already signs that change is taking place. So why not publish annual statements – with metrics – that describe how they are investing in employees and trying to attract a diverse workforce?īusiness also should seek to have a more-open relationship with government with clearer guardrails. Signers of the Business Roundtable statement pledged to compensate employees fairly, support them with training, and foster diversity, for example. Now companies need to demonstrate they are turning those words into action. This movement has grown stronger in the wake of the Black Lives Matter protests and the growing focus on the threats of climate change and income inequality. In 2019, nearly 200 US CEOs signed a Business Roundtable pledge committing to run their companies for the benefit not just of shareholders but of employees, customers, suppliers, and the wider community. Fortunately, the recent focus on stakeholder capitalism provides a roadmap for change. It is in the private sector’s interest to resist these forces and restore civic virtues. Authoritarianism has risen and extremist views have increased globally, fostering economic nationalism and an erosion of the rules-based trading system. The EIU global democracy score dropped in 2020 to its lowest level since the index was launched in 2006. What happened in Washington isn’t just a US issue. And corporate leaders should have little interest in fostering hyper-partisanship that risks alienating customers and preventing the political system from addressing issues like immigration reform and aging infrastructure. The mob assault at the US Capitol demands a fundamental rethinking of our political and social norms and behavior.īusiness can help lead the way rather than simply trying to move on after the acquittal of former President Donald Trump. 6 shocked the United States and sent reverberations around the globe.
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