Engagement in the News: Stock Buyback Bill, Barron's Sustainable Companies List, Amy Klobuchar
When Sen. Elizabeth Warren introduced the Accountable Capitalism Act calling upon CEOs at companies with sales of over $1 billion to “take into account the interests of customers, employees and communities,” ESM predicted this could mark the start of new public discussion about the importance of investing in people and what ESM calls Enterprise Engagement, but we didn’t think it would happen this fast.
In the last two weeks, various issues related to engagement have made national news:
Politician lambasted for management style. Amy Klobuchar, the Minnesota senator who just announced her candidacy for president, is taking a pounding in the media about high staff turnover, her alleged temper and moodiness and the reported unwillingness of several talented people to accept key campaign roles. Is she being singled out for this management style because she’s a woman, as some observers have legitimately asked? In the past, this issue has not raised much ire about the many men with similar management styles who have run for president. Or did the popular show “Undercover Boss,” the influence of Millennials, and other social forces put a greater public focus on the importance of inspiring leadership that is just starting to show up, much like the MeToo movement last year?
Restrictions on stock buybacks proposed. Senators Bernie Sanders and Chuck Schumer proposed a bill that would put big restrictions on stock buybacks by companies that do not invest sufficiently in their workforce, citing that stock buybacks have soared after the recent tax cut at a pace far greater than investments in people. Their legislation would prohibit companies from buying back stock unless they invest in workers and communities, including paying all workers at least $15 an hour, providing at least seven days of paid sick leaving and offering reasonable and reliable pensions and healthcare benefits.
Barron’s highlights sustainable people management practices.
The Feb. 11 edition Barron’s, the highly respected investment weekly, released the results of its 2018 100 Most Sustainable List
, whose combined shares lost only 3.2% last year, compared with the S&P 500’s loss of 4.2% and broader Russell 1000’s loss of 4.6%. Barron’s
definition of a sustainable company includes the criteria of Enterprise Engagement (i.e., practices related to shareholders, employees, customers and community, as well as the planet). Barron’s
quotes Hubert Joly, President of No. 1-ranked Best Buy: ”You need to 1) have a great team, 2) happy customers, and 3) generate returns. But it’s the first priority that generates the second, which generates the third. Making money is the outcome.” This year’s Barron’s report concludes that the success of a sustainable management journey depends “a lot on the personal passions of the CEO.”
Rounding out this year’s top 10 companies after Best Buy are: Cisco Systems, Agilent Technologies, HP Inc., Texas Instruments, Voya Fnancial, Clorox, WW. Grainger, Motorala Solutions and ManpowerGroup.
Presidential candidate Howard Schultz proposes changes in corporate tax rates. In a recent town hall meeting on the CNN network, Howard Schultz called for a change in the corporate tax cut to include incentives for companies that invest in worker training and other employee benefits.
Master the Principles of Enterprise Engagement to Achieve Organizational Goals and Enhance Your Career
Profit from a new systematic approach to engagement to enhance your organization’s brand equity; increase sales, productivity, quality, innovation, and safety, and reduce risks.
Achieve ISO 10018 Quality People Management Certification to demonstrate your organization’s strategic commitment to people to your customers, employees, distribution partners, vendors, communities, investors, and regulators.
Live Education: Enterprise Engagement in Action Conference at Engagement World
In Print: Enterprise Engagement: The Roadmap 5th Edition.
, April 3, 2019, in San Francisco, in conjunction with the Selling Power Sales 3.0 Conference. Learn about the economics, framework, and implementation process for an ISO certifiable approach to achieving organizational objectives by strategically fostering the proactive involvement of all stakeholders. Learn more and register now
The first and most comprehensive book on Enterprise Engagement and the new ISO 9001 and ISO 10018 quality people management standards.
Online: The Enterprise Engagement Academy at EEA.tmlu.org
, providing the only formal training on Enterprise Engagement and the new ISO 9001 and ISO 10018 quality people management standards. Provides preparation for professionals to support organizations seeking ISO 10018 employer or solution provider certification, as well as elective courses on Trade Show Engagement, Rewards and Recognition, Government, and other topics.
: 10-minute short course: click here
for a 10-minute introduction to Enterprise Engagement and ISO standards on Coggno.com
Services: The International Center for Enterprise Engagement at TheICEE.org
, offering: ISO 10018 certification for employers, solution providers, and Enterprise Engagement technology platforms; Human Resources and Human Capital audits for organizations seeking to benchmark their practices and related Advisory services for the hospitality field.
The Engagement Agency at EngagementAgency.net
, offering: complete support services for employers, solution providers, and technology firms seeking to profit from formal engagement practices for themselves or their clients, including Brand and Capability audits for solution providers to make sure their products and services are up to date.
C-Suite Advisory Service
—Education of boards, investors, and C-suite executives on the economics, framework, and implementation processes of Enterprise Engagement.
—Select the right speaker on any aspect of engagement for your next event.
Mergers and Acquisitions.
The Engagement Agency’s Mergers and Acquisition group is aware of multiple companies seeking to purchase firms in the engagement field. Contact Michael Mazer in confidence if your company is potentially for sale at 303-320-3777.
Enterprise Engagement Benchmark Tools:
The Enterprise Engagement Alliance offers three tools to help organizations profit from Engagement. Click here
to access the tools.
• ROI of Engagement Calculator. Use this tool to determine the potential return-on-investment of an engagement strategy.
• EE Benchmark Indicator. Confidentially benchmark your organization’s Enterprise Engagement practices against organizations and best practices.
• Compare Your Company’s Level of Engagement. Quickly compare your organization’s level of engagement to those of others based on the same criteria as the EEA’s Engaged Company Stock Index.
• Gauge Your Personal Level of Engagement. This survey, donated by Horsepower, enables individuals to gauge their own personal levels of engagement.
For more information, contact Bruce Bolger at Bolger@TheEEA.org, 914-591-7600, ext. 230.