Leadership in the modern age demands more than just profit-driven strategies; it requires a commitment to social impact that resonates authentically with values and mission. Today’s younger generations, especially millennials and Gen Z, seek purpose in every aspect of their lives, from their careers to the brands they support. Ernst & Young’s Gen Z survey highlights that nearly two-thirds of Gen Z considers working for an employer that shares their values extremely important.
The concept of leading a life of impact is not new, but corporate leaders are now recognizing that genuine social impact is not just a choice; it’s a necessity. From Paul Newman’s pioneering efforts with Newman’s Own to the current era, where companies are expected to showcase their community giving credentials, the landscape has evolved. However, the younger generation is discerning, unimpressed by superficial cause marketing, and quick to call out organizations for greenwashing or failing to uphold racial justice commitments.
For leaders, whether in the for-profit or nonprofit sectors, who aspire to make a real difference, here’s valuable advice:
1. Choose a Mission Aligned with Your Superpowers: Embrace a mission that aligns with your organization’s unique strengths and capabilities. LEGO, known for its iconic plastic bricks, goes beyond selling toys; its mission is to inspire and develop the builders of tomorrow. By channeling their superpowers, companies can contribute authentically, creating shared value and long-lasting impact.
2. Engage Beyond Financial Contributions: Stakeholders desire more than transactional engagements. Whether consumers or donors, people want to participate actively in philanthropy. Participatory and collective giving empower communities and foster a sense of collective impact. Newman’s Own Foundation, collaborating with Grapevine, exemplifies this approach through its Community Fund.
3. Evolve Governance for Social and Environmental Impact: Embrace innovative governance models that prioritize social and environmental responsibility. Companies like Ben & Jerry’s and Danone have become B-Corporations, adhering to high standards. Others, like Patagonia and Bloomberg, are exploring models that involve trusts or pledges. Initiatives like Pledge 1% encourage organizations to dedicate a portion of profits, time, equity, or products to meaningful causes.
4. Foster Strategic Partnerships: Recognize the complexity of today’s interconnected challenges and the need for collaborative solutions. Partnering with organizations, communities, and individuals amplifies impact. By mapping potential collaborators for funding, policy change, or movement building, leaders can multiply their influence and contribute significantly to societal well-being.
In a world where urgency is paramount, every leader has a vital role in advancing justice and contributing meaningfully to the greater good. Following Paul Newman’s wisdom, leaders are encouraged to be like farmers, ensuring they give back to society as much as they take.