The coronavirus pandemic and impending recession have created an urgent, unprecedented opportunity for CEOs and corporate leaders to put the promise of purpose-driven leadership and stakeholder capitalism into practice. Companies face extraordinary operational and financial challenges, and with every industry and business tested in unique ways, the course of action may be different for each. Many companies have already stepped up to support their workers, customers, and local communities. We’ve created the following tracker — starting with America’s 100 largest public employers — to help assess what’s happening on the ground, elevate best practices, and share what good looks like in this rapidly shifting landscape.
Based on the latest data, 50% of the top employers have made special customer accommodations and set up work from home policies. 36% have established paid sick leave policies and instituted some kind of manufacturing or service shifts to help the nation respond to the crisis. So far, only 4% of have announced any layoffs, and 7% temporary furloughs.
As a companion to this tracker, JUST has also identified 5 Principles to Help Guide Corporate America During the Coronavirus Crisis, constructed from five years of public opinion research on what constitutes just business behavior, to support corporate decision-making during these challenging times:
- Support Workers’ Health and Financial Security
- Adopt Practices to Minimize Job Loss
- Put Workers First, and Work with Government to Do So
- Support Communities, Local Suppliers, and Customer
- Have the C-Suite Lead by Example
Take a look at some of the initial actions taken by companies to support these core principles here. To showcase how leaders are navigating the crises and spotlight inspiring and industry-leading best practices, we’re also producing an ongoing content series which you can explore here. In addition, you can see the policies we’re collecting from companies outside of the largest in the U.S. here.
We invite you to delve into the Corporate Tracker below. Each policy/practice (in a blue box) links to the original data source to explore further. Our methodology with definitions and classifications can be found below. If you have suggestions for improvements or additions, please let us know. As JUST continues to track company actions in the wake of the coronavirus crisis, we will continue to update the data in the tracker.