Yesterday, some of the most powerful CEOs in corporate America declared that driving shareholder value can no longer be their sole business objective. A group of 181 CEOs representing the Business Roundtable claimed that corporations have a responsibility to balance the needs of all their stakeholders – from employees to local communities.
Several societal trends have pushed corporations to look beyond their fiduciary responsibilities and consider their impact on society, including pressure from employees.
Nearly 40% of millennials – now the largest generation in the American workforce – report choosing a job because of the employer’s approach to corporate sustainability. Five years of statistics from EDF Climate Corps reflect this trend: Demand for climate-related jobs has nearly doubled in the last five years.
Millennials are different from previous generations in their preference for purpose over paycheck. They want to bring change.
Here are three insights I’ve identified from EDF Climate Corps’ pool of graduate student applicants that should matter to any CEO seeking to recruit and retain talent. The program receives over 1,000 applications each year and has an acceptance rate of 10%.