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Not long ago, leaders largely steered clear of the rough-and-tumble of politics. They inhabited a culture of impartiality, and for the most part stayed in their lane, rising now and then when called upon to offer observations about their specific sectors. Those times are over. We now live in an era of CEO activism, where shareholders, employees, and consumers expect corporate leaders to take a stand on issues far beyond their core industryissues like immigration, DEI, or gender rights. Whereas before, hardly anyone outside of their industry could pick a chief executives out of a lineup, todays business leaders from Howard Schultz to Bill Gates to Elon Musk are household names, with the ability to influence public discourseand policywith a single tweet. For a business, there are distinct advantages to taking a political stand. At the same time, there is a fine line between brand enhancement and brand destruction. In this climate, how can a leader be transparent about her or his belief system without alienating anyone? Rewards and Risks First, its hard, if not impossible, to reveal your belief system without alienating someone. Its almost a given: audiences and stakeholders these days may demand a political stand, but they can also be thin-skinned and easily offended when they dont agree with that stand. For the leader, the key is to avoid alienating significant portions of the constituencies and stakeholders responsible for the companys ultimate success: shareholders, employees, and consumers. When it comes to affiliating openly with a political figure or party, there can be advantages, such as privileged access and perhaps the ability to favorably influence policy direction. That said, there are also risks. Some of them are obvious: political fortunes are volatile, and public opinion is fickle, both of which can spell trouble for an aligned business. Political leaders have many priorities, and can shift their own positions on a dime, leaving a company that has publicly pledged allegiance with a case of whiplash. They are also prone to scandal, leaving aligned brands exposed to public outrage. Moreover, while there are certainly dangers in speaking out, silence can also have negative consequences in the public eye. Its important to realize that political parties, personalities, even movements come and go. Leaders are in this for the long haul; they should want their company to prosper for more than one election cycle. Recent events demonstrate the power of public opinion. The Trump administrations executive orders against diversity and inclusion initiatives split the business communities. Target rushed to align with the new directives, but Costco remained true to its own DEI stance. As a result, consumers punished Target and rewarded Costco. Staying true to the core Remember that politicians are paid to be politicians. Executives are not. Leaders are paid to ensure a company grows and prospers far into the future. That might mean rubbing elbows with those in power, or even contributing to campaigns, but it does not have to mean selling the soul of your identity, i.e. politicizing the brand or dragging a companys image (along with you) for the sake of a small short-term advantage. Reputations are hard to rebuild, and customers, once lost, are hard to reclaim. While a leaders personal beliefs may inform actions both private and professional, there are a few basic principles that can act as guardrails, providing the freedom to be transparent while preventing the leaders viewpoints and actions from creating conflicts and harming the companys fortunes. 1. Focus on values, not politics Nobody expects an executive and a workforce of thousands to agree on every issue. But a leader can set the tone by emphasizing core organizational values rather than personal political opinions. Companies are strongest when they articulate and consistently adhere to a clear set of valuesregardless of shifting political winds. 2. Tie beliefs to business mission As a leader, you are a steward of your companys missionnot a political spokesperson. If your personal convictions align with your businesss purpose, express them in a way that supports that mission. If they dont, reflect on whether your current role aligns with your values. A CEO thrives when personal belief and business purpose reinforce one another. 3. Build credibility through consistency While political trends are fickle, brand trust is built over time. Consumers reward companies that consistently uphold their stated commitmentswhether to sustainability, product quality, or inclusion. Consistency is credibility. 4. Respect dissent, invite dialogue Foster a culture where respectful disagreement is welcome. Employees should feel safe expressing differing opinions without fear of retaliation. Provide spacesforums, listening sessions, anonymous feedback toolsfor difficult conversations to happen constructively. Diversity of thought is a strength, not a liability. 5. Be strategic If you choose to speak out, do so with intention. Consult your communications team, evaluate stakeholder impact, and conduct a risk-benefit analysis. As Harvard Business Review contributors Aaron Chatterji and Michael W. Toffel advise: Select issues carefully, reflect on the best times and approaches to get involved, consider the potential for backlash, and measure results. Whos doing it right? A number of well-known CEOs have made a point of voicing their beliefs, and have not suffered for it. On the contrary, they have developed a leadership style that manages to be both values-informed and advantageous from a business standpoint. 1. Satya Nadella (Microsoft). Nadella openly discusses empathy and his Hindu faith, speaking often of caring for his son with special needs. He is upfront about his personal values of humility and purpose, but does not impose these upon the firm directly, emphasizing instead organizational culture and customer impact. Under his watch, Microsoft has quadrupled its market capitalization. 2. Dan Schulman (former CEO, PayPal). Schulman has been vocal in support of social justice and economic inclusion, which he links to his personal Jewish ethical values. PayPal pulled out of North Carolina to protest anti-LGBTQ legislation, a move that was criticized by the right but rewarded by stakeholders, with shareholder returns remaining strong. 3. Rose Marcario (former CEO, Patagonia). Markarios Buddhist beliefs and environmental ethics were strongly aligned with Patagonias corporate mission. So when the company sued the Trump administration over its intention to dismantle and sell off national monuments, it mobilized the companys core outdoor audience and strengthened the brand, with increases in both consumer loyalty and profits. 4. Ken Frazier (former CEO, Merck). In 2017, Frazier resigned from President Trumps American Manufacturing Council following the administrations tepid response to the white supremacist marches and ensuing violence in Charlottesville, Virginia. Fraziers action was see as deeply principled, and Mercks shareholder value was not damaged. Other CEOs (UnderArmour, Intel, et al) followed suit, in part because Fraziers action created a public demand for moral leadership. Finding balance In the end, leaders must balance their own need to reveal their personal beliefs with the greater good of the organization. This is both an internal and external journey that requires a high degree of reflection as well as an appreciation for the complexity of the company and its role in both the market and society. Its an extremely challenging time to be a leader, but also an exciting one.
Category:
E-Commerce
One of the best predictors of your happiness at work is whether you have colleagues that you are close with. You dont necessarily need to be friends with your colleaguesthat is, you may not want to hang out with them outside of workbut you do want to have people you feel you can talk with and share your experiences. Unfortunately, many people feel like they dont have anyone at work that they know well at all. Workplaces have gotten more efficient, and so there is less time for people to engage in small talk that solidifies their relationships with others. In addition, even at workplaces where everyone is working on-site, there are still many meetings done via videoconference, so it is hard to connect with your colleagues before or after to say a few words. If youre feeling lonely at work, there are a few things you can do. Make space and time for relationships Developing better relationships with your colleagues may seem like a waste of time, but it isnt. Not only does it help to predict workplace satisfaction, but having close colleagues also helps to build trust. Some amount of trust building involves demonstrating to people that you will carry out tasks that you promised and do your work well. But, a lot of trust is built through relationship development. You tend to trust people you know well. When you let people in on details of your life, youre showing some vulnerability, which also builds trust. Indeed, when you think about it, the people you are closest to in your life are people you share a lot of your life with. They know what you like, what you want, and what you have done. They have shared good times and bad. That sharing influences trust in the workplace as well, and so it is valuable to set aside some time to build your relationships with others. Take some initiative When youre feeling lonely at work, you may also feel rejected by others. You may look around and see other people having conversations and wonder why nobody has talked with you. You might even start to wonder if there is something wrong with you that is preventing other people from wanting to engage with you. Rather than wallowing in the feeling that you dont deserve to be close to your colleagues, do something about it. Invite a colleague for coffee or lunch. Bring in pictures of your kids, pets, plants, or the products of your hobbies. Create chances for people to get to know you better. Over the years, I have collected and built a variety of Lego models. I have brought the finished models to my office, and I display them there. They are there in part because I think they are fun. But, they are also here to generate conversations when people come to my office. It creates a light moment to talk about something unrelated to work that builds my relationship with colleagues. It is a small thing, but I think it has an impact. Build a group For many people, it can be awkward to try to build relationships with one person at a time. If youre socially awkward, you may not want to have sustained conversations but you would still like to feel that youre part of a team. In that case, you might want to find or start a group at work that gets together on occasion around an activity to build a community. Use lunch hours once or twice a month to start a book club or take time before or after the workday to do a volunteer effort. A group that has a common goal is a great way to feel connected to your team. That spirit can feed back on the workplace. Constructing a group like this is different than the traditional team building activity that workplaces often create. Those activities are often forced on a group. They are done once. They may be fun, but they dont create anything sustaining. The groups I am suggesting are intended to persist over time to develop a set of relationships and lay down a collection of memories that ultimately create a more cohesive workplace.
Category:
E-Commerce
Not willing to be caught idling while Chase and American Express release new premium credit cards, Citi is launching one of its own: the Citi Strata Elite Card. While Citi has offered a premium credit card in the past (the Prestige Card, which some customers still have and use, but is no longer available to new customers), the Citi Strata Elite Card is the companys return to the pitch in many years. Specifically, the new card is designed to directly compete with Chases Sapphire Reserve card and the Platinum Card from American Expressboth of which have recently announced new features, fees, and revamps. As for what makes Citi Strata Elite superior to its competitors offerings? Pam Habner, Citis head of U.S. branded cards and lending, says that in the simplest terms, its the best card for premium customers who have a passion for travel and dining. The card itself boasts an overall value of $1,500 annually, against an annual fee of $595. That includes an annual $300 hotel benefit, $200 splurge credit (for use with certain brands, such as Best Buy or American Airlines), a $200 Blacklane chauffeur credit, and a fee credit for Global Entry or TSA PreCheck. There are numerous perks associated with American Airlines, too, which has had a long relationship with Citi, including four Admirals Club lounge passes. Card members also multiply their points earnings by 12 when booking hotels, car rentals, or attractions through the cards travel portal, along with a six-times multiplier when booking air travel or ordering from certain restaurants at certain times. In all, it packs a powerful punch for people who like to travel and eat out. Habner says that compared with competing cards, it is the card with the highest reward potential on the marketit offers travelers more benefits than any other card. And she notes that the top reason premium cardholders opt for high-level or premium cards is for the travel benefits, according to her teams research. There was a good amount of research, too, that went into the development of the card. While Citis previous premium card was designed for its time, the new card meets the needs of the modern premium customer, Habner says, and it took a good amount of time, data, and research to figure out exactly what those were. The Strata Elite Cards slate of benefits and perks, she says, reflects Citis findings.
Category:
E-Commerce
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