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October News from Conscious Capitalism
Great Lakes Bay Region Chapter
Employees as Stakeholders. Traditional businesses treat employees as a resource, alongside other resources such as financial capital and raw materials. Employees are seen as a cost to be minimized, and their value begins and ends with their ability to help the company make more money...
What does it mean to treat employees as stakeholders? First we need to recognize the central role that they play in creating value. We must appreciate that human beings are not a resource; they are a source. They are capable of extraordinary acts of innovation, creativity, and caring. Employees deserve to be cared for, inspired, recognized, and celebrated. Their well-being and that of their families is inherently important. It means recognizing that their work is an inherent part of their identity and can be a source of deep fulfillment and meaning.
A stakeholder orientation toward employees implies a duty on the part of the company to adopt certain practices:
- Treat each employee as a precious human being.
- Strive to be a good steward of their lives.
- Give them opportunities to grow and evolve.
- Help heal them and make them whole.
- Empower them to share their gifts and realize their potential.
As Bob Chapman, CEO of Barry-Wehmiller, says, "Take care of the people, and they will take care of the business." How you treat people will ultimately dictate how much contribution you get in return.
-Raj Sisodia, Timothy Henry, Thomas Eckschmit, Conscious Capitalism Field Guide
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