This election cycle has shown, among other things, that a lot of voters are worried about their economic security and long-term stability. The question of economic stability isn’t one that should, or even can, be left entirely to politicians. Business leaders can, should, and must help the situation out.
There are a number of ways to do that, but they come down to trust. Employees have to be able to trust that their employers aren’t going to drop them the second that profits take even the slightest downturn. One of the biggest factors in that widespread economic uncertainty is how often people change jobs, not because they want to, but because their job ceases to exist. Layoffs are commonplace, and they don’t make people confident. For everyone, from the chronically unemployed to entry level workers to established employees, the ability to stay in a position and actually make some financial headway is incredibly important.
This isn’t going to stop being an issue, either. Anyone who’s read about Millennials knows that they face an uncertain economic future, where jumping from job to job or even maintaining several of them is the norm, despite their education, skills, or backgrounds. They didn’t create the economic environment in which they’re subjected to so much uncertainty, and there’s only so much that they can do to fight against it. The stability of the 1950s and 1960s are all but gone, and that’s largely thanks to businesses putting profits before people. In the last 10 years alone, Americans have only seen earnings rise 2%, while 47% of Americans can’t scrape together $400 in an emergency–a pitifully low number compared to medical costs. At the same time, CEOs continue to maintain or even improve their salaries. That’s hardly a situation conducive to fostering trust….
