I am fortunate to sit in on more than a thousand conversations a year with CEOs, boards and leadership teams. I cannot help but identify themes throughout these conversations, and during the last year one theme has continued to surface. I have distilled several of these conversations down to one simple question: “How do I have conversations with my team about socially and politically charged topics?”
In a recent release of the Edelman Trust Barometer, some startling results emerged about the current state of trust in the world. The Trust Barometer polls more than 1,500 participants about their trust in four main institutional types: business, nongovernmental organizations, government and media. The results of the study highlight a “crisis of leadership” in societal leaders.
In addition, trust in information sources is at an all-time low, an infodemic. If trust is low across the board, and information sources cannot be trusted, can business leaders afford to wade into this ocean of trust? I propose business must lead and lead now.
While the study notes that societal leadership is in crisis, business maintains the sole bright spot in the Edelman Trust Barometer. Out of the four institutional types, business is the only institution above 50% on the trust index with an overall rating of 61%, and is the only institution group that is viewed as both ethical and competent.
In fact, when asked more specifically how they view their own employers, 72% of American respondents cite their employers as a mainstay of trust. Business has become the only institution trusted by our employees to ethically and competently drive change in our society.
With a new social responsibility mandate for business to lead, it’s never been more important for our business leaders to possess high ethical standards and competencies to deliver results. When Edelman Trust Barometer participants were asked if “CEOs should step in when government doesn’t solve societal problems,” 68% said yes, with 66% saying that CEOs should not only step in but should take the lead in solving problems.
Leadership alone is not enough. The vast majority — 86% — of study participants expect CEOs to speak out about these societal challenges and believe CEOs should be accountable to the public, not just their boards and stockholders.
Leaders typically stay far away from highly charged topics. This is especially true in today’s polarizing climate where bonds of affiliation have been drastically expanded to include politics, religion and social issues as a part of acceptance. No longer can people compartmentalize views of the various topics. To do so would risk being ostracized from the group.
Leaders must lean in. The time is now to walk this tightrope and talk openly with others about the social issues plaguing our nation and the radical behaviors we are witnessing. Engage in conversation cautiously. Addressing social issues is expected, but to allow these social issues to become a bond of affiliation with your organization’s culture may be perilous.
For CEOs and businesses the time is now. Your leadership is expected by employees, families and the community. Lean in. Don’t squander this opportunity to lead.
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