Have you been paying attention, like I have, to the union strikes that are underway in the U.S. these days? The Writers Guild of America and SAG-AFTRA hit the picket lines this Spring, and as of this writing, the United Auto Workers have been on strike for nearly a week, with no immediate end in sight. As always, better pay and benefits are at the core, but there is something else at play, too.
The increasing interest in unionizing – Starbucks, REI – and the frequency of union strikes or the threat of strikes – Pilots, Healthcare workers, UPS – in recent years are emblematic of the broader challenges faced by the American workforce in an era of rapid technological advancement.
Automation and artificial intelligence are reshaping industries and impacting the power and money dynamics between employer and employee. What if these changes demand that we reimagine corporate social responsibility (CSR) and environmental, social and governance (ESG) initiatives as well, to more effectively bridge the interests of both company and worker as we navigate our new AI-powered world?
Fair Wages Are a Corporate Social Responsibility
The 2023 Just Company Rankings produced by Just Capital, revealed that the public considers companies that pay employees a living wage as the top ranked behavior of a “Just Company”. Fair wages and benefits are table stakes but are not typically considered a component of a company's CSR initiatives. As we reckon with the new and evolving workplace, companies have an opportunity to think more expansively about how fair wages and benefits for employees can sit at the center of their socially responsible business strategy.
Preparing the Workforce of Tomorrow
In this era of rapid change, companies recognize the need to invest in reskilling and retraining programs for their workforce. By helping employees acquire new skills and adapt to changing job roles – for example, learning how to work side-by-side with AI – companies demonstrate their commitment to employee well-being and job security, while also ensuring that the business has the critical skills needed to maintain operations. But what if companies thought about the talent pipeline more broadly? More than reskilling and retraining current employees, companies can invest in talent development beyond the corporate walls. By investing in education and skills-building in the broader community as strategic business priority, companies can set the stage for longer-term value creation by building the workforce of tomorrow now.
The New Company Town
Navigating the complexity of digital transformation, artificial intelligence and new models of remote and hybrid work can be challenging for companies and employees. People want community, connection and a sense of purpose, and smart companies are committed to providing it according to Benevity’s 2023 State of Corporate Purpose Report. It is time for a new version of the company town. A unified program of online tools and real-life interactions, the new company town can provide access to support that protects the health and safety of employees and their families, opportunities for diverse stakeholders to participate in community giving that addresses real community needs, and pathways to local volunteering to build relationships and give back. Building the new virtual company town puts community and social responsibility at the heart of the business.
Conclusion
The SAG-AFTRA and UAW strikes, and the broader challenges posed by AI and technological progress underscore the enduring importance of corporate social responsibility. As tech continues to shape industries, corporate social responsibility and ESG must also evolve to better address corporate goals, employee rights and dignity, and the shared commitment to creating impact.