As election season approaches, businesses must increasingly think about how to address social and political issues that will undoubtedly re-emerge.
“I think it’s really important for companies to think about what is the core of their business,” said Betsy Atkins, chairman of Alphabet (GOOG, GOOGL) Google Cloud and board member of Wynn and GoPuff. told Yahoo Finance at the 2023 Milken Global Conference (video above). “Is it about building great products, great services, or is it about trying to reshape the world? When companies decide that social and political issues are the most important thing, You get into trouble.”
Atkins cited Netflix (NFLX) as an example.
“They had very unified views and were on one side of the political spectrum, so the creative team created content just for one side,” Atkins said. “Ultimately, they realized they were losing half the market. So they had to go back and say, with Netflix, we’re going to create content for everyone.”
Meanwhile, Atkins, who has served on the boards of more than 20 companies, expressed concerns about software provider Salesforce (CRM) and how its aggressive activities have made it vulnerable. Did.
Atkins added: “The problem with focusing too much on social issues is unfortunately that it divides the workforce, because politics is inherently divisive.” “They want to be non-inclusive, non-union, and put all their mental calories into the company’s business. They want an open environment that welcomes all opinions and doesn’t demonize colleagues. They want the widest range of opinions. But we also want the most diverse and inclusive.”
He stressed the need to tread carefully as political positions can affect profits.
“I think we’re definitely incorporating all of the best ideas to create a great environment,” Atkins said. “Everyone has a voice, but…our business is our business.”
So what should companies do? How should we approach speaking out about political issues?
“The best thing to do is to create a policy and then use that policy to communicate why you’re saying what you’re saying as a company,” Atkins said.
“I really want to spread this principle through your employee base and management team,” she continued. “We need to understand what our beliefs are, what our values are, when we speak, when we engage, why we engage, and does it make sense for us as a company?” ?Is there a constructive way to move us toward a place of unity and togetherness?”
Allie Garfinkle I’m a senior tech reporter at Yahoo Finance. Follow her on Twitter @agarfinks And even more linkedin.
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