08/15/2023

Stakeholder Centricity Is Your True North

Tension is growing between management, employees and clients

Workers are increasingly “facing off with their employers,” as the The Wall Street Journal recently noted, losing trust in their companies' purpose and feeling generally mistreated at work. But what if the employees' collective sense of purpose conflicts with customers, investors or regulators?

Companies need leaders that can create a shared sense of purpose for all critical stakeholders. They’ve got to create the belief that by working for/investing in/buying from the company, each key stakeholder is advancing their shared perception of a greater good.

After all, high-profile customer boycotts and employee rebellions are painful and problematic. Switching costs are lower than ever for both consumers and talent, and losing either group puts a company at risk.

Please select this link to read the complete article from Chief Executive.