How Corporate Social Responsibility Can Help End Ageism in the Workplace

In September 1970 superstar economist Milton Friedman published an essay in the New York Times Magazine that was widely received as a manifesto for freemarket capitalism In his quotThe Social Responsibility of Business Is to Increase Its Profitsquot Friedman who had achieved celebrity status by his regular appearances on television talk shows made the convincing case that the only job of corporations was to make money for themselves and their shareholders Greed was good for everybody the essay implied with any social good to trickle down from those who financially benefited from corporate avariceA half century later the quotessay heard round the worldquot as the same publication called it was deemed as obsolete as the Ford Pinto CEOs of major corporations university professors contemporary economists and other pundits were invited to offer their thoughts on the piece against the backdrop of the much different business climate that had emerged over the past generation quotThe decades since have only exposed Friedman39s myopiaquot Marc Benioff of Salesforce commented a sentiment that most of the contributors expressed in some way or anotherThe Value of Corporate Social Responsibility CSRWhat had happened to turn Friedman39s classic work from a roadmap for businesses to follow into a danger zone to avoid at all costs Three words Corporate Social Responsibility CSR CSR is among the most popular pursuits in business today a very good thing towards achieving a more equitable society The goals of CSR are particularly wellaligned with the principles of age friendliness being inclusive towards older people as workers consumers and citizens Unlike DEI which has essentially ignored ageism the ascent of CSR is good reason to be optimistic that older people in America have a chance of being treated fairly in the workplaceWith businesses taking social responsibility seriously discrimination against any group will at least in theory not be tolerated by employees consumers and investors something that bodes well for ending ageism once and for all Within the diversity and inclusion universe race and gender have led the way and now business is increasingly supporting the rights of the disabled and LGBTQ communitiesLike diversity and inclusion social responsibility is being woven into various organizational departments a clear sign that it not a passing fad quotCSR has become the weapon of choice for what is known as in corporate speak the three R39s Investor Relations Human Resources and Public Relationsquot Sam Hill wrote for Newsweek in 2019 citing Starbucks39 use of quotethically sourcedquot coffee as a prime example of the newest version of social responsibilityquotSustainabilityquot has become the most commonly spoken and heard buzzword in CSR circles extending the use and meaning of the term from its environmentalist roots In August of that year almost two hundred CEOs of the nation39s biggest companies signed a Business Roundtable statement committing to managing their organizations not just for shareholders but also for customers employees suppliers and communities Experts in the field maintain that CSR efforts are measurable satisfying those concerned about the haziness of nice sounding but less than quantifiable phrases like quotdoing well by doing goodquotThe Call to ActionWith good now the new cool within the world of business it39s an ideal time for Big Business to embrace age friendliness in any and all waysamp160 Although aging is arguably the biggest story of our time and place at least from a people perspective it is conspicuously absent from the corporate social responsibility conversation Call it what you will conscious capitalism elevated economics woke capitalism sustainability or greening CSR and its sibling ESG have yet to acknowledge the major injustices routinely and consistently directed to older workers consumers and citizensWhy is this so Great strides have been made with regards to equal rights for women and people of color in the workplace and elsewhere and many companies are now actively taking progressive steps to support the LGBTQ community In 2021 for example Alliant Energy Franklin Templeton and TIAA were each named by the Human Rights Campaign as a quotBest Place to Work for LGBTQ Equalityquot designations that were proudly announced in the mediaIs there a similar designation for quotBest Place to Work for People 50 Years Old or Olderquot If not why Don39t older Americans deserve the same rights and protection afforded to other groups that have experienced discrimination The message being sent by Corporate America is that the tens of millions of Baby Boomers are less deserving of full equality than others a strange and disturbing thingSimilar action needs to be taken with regards to older workers consumers and citizens if full equality is to be realized Businesspeople of all levels should think about how to apply age friendliness into their CSR plans and programs finding them to be complementary and synergisticClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writers

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How Corporate Social Responsibility Can Help End Ageism in the Workplace

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Larry Samuel

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