Axios reports that "younger employees, customers and potential hires are much more concerned than previous generations about what a company stands for — its mission, values and higher purpose … 77% of people surveyed globally by the Edelman Trust Barometer last year said their employer is the institution they trust most — a huge opportunity for CEOs."
Interestingly, the trend seems to favor consumers supporting brands with which they agree, as opposed to boycotting brands with which they disagree: "Only 1 in 5 people will boycott a brand due to its stance on societal issues," while "1 in 4 Baby Boomers said they would actively boycott a brand they disagree with."
Gen X, Millennials and Gen Z, the survey concludes, "are less likely to boycott — and more likely to intentionally support like-minded brands."
- KC's View:
This puts many business leaders in a tough position, especially if the priorities and values of their employees are different from those of their customers. It is a tough road to navigate, but increasingly, they may have no choice. I don't envy them, but that's why so many retail businesses are actually re-evaluating the qualities that they looking for in their C-suite occupants.