How Businesses Should Approach the Social Impact ImperativeAn interview with
The Healthy Societies podcast series explores the many ways in which businesses can take an expanded view of their role in advancing the health of their broader communities.
Expectation is growing for private businesses to take an active role in promoting the broader health of society. Failing to act creates many risks that can impact everything from reputation to workforce to the bottom line. But acting comes with risks as well, as unintended consequences or execution failures spawn their own complexities. How can businesses navigate this maze and have the impact they want to have on society? Gigi Norris, Marsh’s US Healthcare practice leader provides a guide in this discussion.
On the role of business in influencing public health:
“Our society, individuals and governments, expect us as businesses to not really be taking a moralistic stance, but to be addressing some of the core issues that contribute to societal health.”
On the business imperative for action:
“It’s a different moment today in society than it was even ten years ago. Society is expecting businesses to act in a way that demonstrates ethics and supports the broader objectives of the community.”
On generational gaps in shaping the direction of public health:
“Millennials have different expectations about what they want out of life and out of their society. We’re beginning to see Millennials in the corporate environment – not only as employees and senior-level employees — but also as voters. Their culture is beginning to emerge and things that are important to them are coming to the fore.”
On how companies should integrate social impact into their work:
“First and foremost, you have the think about your culture, and your ability to demonstrate through your actions that you have the right policies and procedures in place — and, honestly, that your intentions are positive and that the company culture is organized very strongly around those intentions.”