Some of the region's top business leaders are gathering this week to discuss inclusive capitalism and how other companies can adopt such practices. The heads of Procter & Gamble, Kroger and Cincinnati Children's are among the panelists for Tuesday's discussion.
Inclusive capitalism is a concept that capitalism could work better for everyone. It is "fundamentally about creating long-term value that benefits all stakeholders – businesses, investors, employees, customers, governments, communities, members of society and the planet," according to the Coalition for Inclusive Capitalism.
Tuesday's program is sponsored by Cincinnati Chamber's Workforce Innovation Center, which was established in 2018 to help companies integrate inclusive capitalism into their business models.
"There are many rightful criticisms of capitalism right now in how it has not enabled people to advance economically and throughout educational attainment and other measures of middle-class success," explains Audrey Treasure, vice president and executive director of the Workforce Innovation Center. "We would like to invite and encourage more companies to consider how they might practice capitalism in ways that benefit their employees and benefit their business bottom line."
That could include increasing worker retention and decreasing turnover, and finding new talent sources.
Treasure adds that a thriving talent base within a company's workforce drives success.
"We want companies to see themselves as partners with their own employees in terms of what they offer, how they support them, and then how that can help companies serve their customers and have a successful business," says Treasure.
The pandemic, she points out, exacerbated and exposed disparities and problems many in the workforce face. Companies can be part of the solution and help their employees thrive, which benefits the employees and their families as well as businesses and the economy.
The online program - Inclusive Capitalism in Action: Lessons from the Cincinnati region - is April 27 from 1:00 – 3:00 p.m. You'll find registration details here.
- Procter & Gamble: David Taylor, CEO, Chairman and President; Damon Jones, Chief Communications Officer
- The Kroger Co: Rodney McMullen, Chairman and CEO; Tim Massa, Senior Vice President and Chief People Officer
- Cincinnati Children's Hospital Medical Center: Michael Fisher, President and CEO; Nerissa Morris, Senior Vice President, Human Resources and Chief Human Resources and Diversity Officer
- Dan Meyer, President & CEO, Nehemiah Manufacturing; Michael Taylor, Director of Operations
- Tom Williams, CEO, North American Properties, Commission Member, Commission for Inclusive Capitalism
- Ed Rigaud, Chairman and Owner, EnovaPremier, LLC
- Audrey Treasure, Executive Director, Workforce Innovation Center
- Darrin Redus, Executive Director, Minority Business Accelerator