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Does Corporate America Finally Get What Working Parents Need? - Sun and Planets Spirituality AYINRIN
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Author:His Magnificence the Crown, Kabiesi Ebo Afin! Oloja Elejio Oba Olofin Pele Joshua Obasa De Medici Osangangan Broadaylight.
At this week’s White House Summit on Working Families, President Obama and others made a moral case for changing the way we work. “Family leave, childcare, workplace flexibility, a decent wage - these are not frills, they are basic needs. They shouldn’t be bonuses. They should be part of our bottom line as a society,” the president remarked.
Yet
there was also a strong business case for change, with vociferous and
impassioned representation from our nation’s private sector. Bob Moritz,
PwC’s US Chairman and Senior Partner, called on his peers to make
significant changes, saying that “CEOs need to make this happen.” He
reported that when PwC increased their flex options they saw higher
productivity in return. When they transitioned to unlimited sick leave,
the actual number of days that employees took as sick days
declined.
PwC offers back-up childcare and other family-friendly benefits because
they have found that when employees are worried about issues outside of
work, they can’t effectively focus on client needs.
Alex
Gorsky, CEO of Johnson & Johnson's, Lloyd Blankfein, Chairman and CEO
of Goldman Sachs, and Joe Echevarria, CEO of Deloitte (attending via
video), all expounded on the importance for recruitment and retention of
talent of not only implementing family-friendly policies, but for
creating work cultures that encourage employees to live full lives.
Makini Howell, Owner of Plum Restaurants, said, “Paid sick leave is
pennies on the plate… The employee retention is priceless.” Blankfein
described, as an example, Goldman Sachs’
“Returnship” program,
which helps senior women re-enter the workforce after off-ramping. And
he called out income inequality as a “destabilizing” force for companies
and for society.
Raising
the floor and addressing income inequality was also a major theme of
the day, heard not only by labor representatives and progressive elected
officials. Shake Shack’s CEO, Randy Garutti, reported that his
employees deserve (and receive) $10/hour as a starting wage. Jennifer
Piallat, CEO of Zazie, said, “Not only is it a moral decision to treat
my workers well, but it’s also a financial decision.” Dane Atkinson,
CEO of SumAll and serial tech start-up entrepreneur, asserted that
there’s a business as well as a moral imperative in pay transparency and
pay equity. In fact,
as research from Zeynep Ton shows, investing in retail and service workers can benefit not only employees, but customers and the company as well.
- Mothers are increasingly household breadwinners
- Fathers are increasingly family caregivers
- Women make up nearly 50% of the labor force
- Women are increasingly our most skilled workers
- Most children live in households where all parents are employed outside the home
- Men as well as women are struggling to find a way to manage work and home responsibilities
As
a result, and despite the downturn in the economy and high
unemployment, employers are finding that in order to recruit and retain
valued employees, they need to take non-work demands into account.
Men
are also starting to speak up about family needs, and savvy employers
are heeding the call. Enlightened entrepreneurs and CEOs are lauded
while those with outmoded, Mad Men-era
labor practices are vilified and losing business as a result. Work and
life issues are increasingly and accurately understood as social and
economic issues, not women’s issues, frills, or charity. As Mark
Weinberger, Global Chairman and CEO of EY, smartly noted at the summit:
“Women don’t want to be singled out and men don’t want to be left out.”
And
while so much remains to be done, it’s heartening and inspiring to see
so much executive attention to what has emerged as a national priority –
making it possible for men and women to be free to choose the lives
they truly want to lead.
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