Economic Impact and Importance of Social and Policy Issues
21 Oct 2022
The United States was founded on the idea that its elected officials are the voice of the people; however, dissatisfied with the polarized political divisiveness and the near gridlock in Congress, the people are looking towards other forms of representation — their employers. It has become increasingly common for employees to urge, if not demand, their employers stand up for them, take action, and help create change on their behalf. Many companies — motivated by their current workforce’s pleas and their desire to attract the best and brightest workforce — have accordingly prioritized aligning their social activism and corporate responsibility stances.
Within the past five years, there have been four major social and policy issues that have companies weighing in. While some criticize the private sector for being involved in public decision-making, others criticize businesses that remain silent or don’t do enough. This dichotomy has been shown in recent decisions regarding abortion laws, “bathroom bills,” voters’ rights legislation, and displays of the confederate flag. To truly understand how we got here, it is important to first assess the events that gave rise to the heated discussions, the economic climate surrounding the time of these events, and any initial corporate responses taken.