OPINION: “Why have companies become more outspoken in recent years and willing to upset an alliance that has helped them reduce their tax bills and regulatory hurdles? My research suggests there are three driving forces for this trend.”
There’s a growing rift between corporate America and the GOP—two groups that have long been bedfellows.
But this union has become increasingly strained in recent years over a range of social issues, particularly regarding LGBTQ rights. Read this: Facebook, Google, Amazon and more marked Black History Month with fanfare—after donating to lawmakers who blocked voting rights bills In my own research, I’ve found a CEO’s political affiliation can affect how a company spends money. CEOs who mostly donate to Democrats tend to spend more on their employees, community activities and environmental issues, regardless of their company’s profitability. That is, they seem to believe it’s simply the right thing to do.
Growing worker activism Recent management research shows that companies with more liberal employees spend more resources on improving gender and race diversity and sustainability issues. Similarly, a 2019 study found that companies are more likely to concede to activists’ demands over issues like reducing carbon emissions and increasing front-line workers’ pay when they have a more liberal workforce.
Corporate executives tend to follow public sentiment, as they want to minimize the risk of losing customers for their products and services.Public support for allowing gay people to marry surpassed 50% for the first time in 2011—it’s now at 70%. Until then, very few CEOs had made a public statement on the issue, according to my same-sex marriage research.
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