Re: The Hate Directed at the LGBTQ+
Posted: Wed Apr 26, 2023 12:13 pm
+1MDlaxfan76 wrote: ↑Wed Apr 26, 2023 11:57 am I think what the piece in the National Review misses entirely, in its focus on "manly" brands "alienating" their consumers by targeting segments within their potential consumer market with "woke" ads and decisions is... that most of these decisions are being driven by attention to their employees.
It's less about seizing on opportunities to expand their customer base, though that's an important factor to consider, than it is about wanting to attract and retain the best, most productive, high value employees, both now and in the future.
And that means understanding what better educated young people expect from the companies they work for on a host of social values.
And indeed, prospective young, college and higher degree educated employees are demanding attention to such values as climate/environment and diversity/equity more openly and vigorously than had prior generations. We've known for the past two decades or so that mission-driven, 'change the world for the better', companies could attract employees at lower cost than those considered to be 'damaging' the world, but this has accelerated in an environment of scarcity of information age workers in America.
So, rather than just looking at the 'values' of current consumers of their brands, particularly the older consumers of their brands, they are concerned with assessing the values of their employees and particularly prospective young employees.
If they're not proud of their company's efforts on these dimensions, they'll hop in a heartbeat. And they'll say why, loudly.
And yikes, the "anti-woke" legislators and media have been creating a lot of tangible reasons for employees to look at their employers and demand they take a stand consistent with these employees' values.
Yes, that's played out in the NFL and NBA where they needed to take a stand against violence and harassment against women, parlaying that into campaigns to grow their audiences of women, maybe sacrificing the misogynist audience...turned out to be a big positive.
And then in the wake of George Floyd, their employees demanded that their employers take a stand, and allowing them to take a stand, against police violence and lack of accountability. That created considerable stress on the customer base, but it made these leagues more attractive to younger audiences.
Beer and liquor companies targeting LGBTQ+ audiences isn't really about appealing to new consumers, as they undoubtedly know they'll lose some, probably a net zero calc, but rather they know that to attract the digitally savvy marketing teams they employ, they need to focus on both who they hire and what the brand represents to a younger set of high purchase potential consumers.
Sure, big box retailers who decide not to sell guns sacrifice a part of their revenue...but it's darn hard to hire the very best young talent to these companies when they have so many other options...it's the employee attraction and retention issue, not the revenue.
Arguably CVS' decision to drop cigarettes was more 'on brand', but this was a conscious decision to actually be a health' brand, with the new CVS Health, acquiring Aetna, etc. Huge loss of revenue/profit from cigarettes, but the company is able to attract young employees with this brand that now isn't so obviously hypocritical as when they were selling death sticks. Others are following.
Disney was obviously an employee demand matter, given the very young employee base, many of whom are well educated, artistic, digitally savvy, etc. As the company had a legacy problem of not being as aware of sexism, racism, etc, as this generation would want, yet with an enormous cultural impact footprint, current employees over the past decade demanded that the company step up in what it produces, and be publicly opposed to policies threatening to some of its workforce.
Florida's law was such a threat and employees got loud.
I think we're going to see employees get very loud about their companies' stances on issues like abortions and guns in response to what the far-right legislatures have been doing. Almost all major companies are adopting policies that support time off and compensation for travel for employees in states with draconian anti-abortion restrictions. Pressure is going to mount on companies to choose their locations of plants, distribution centers, HQ, etc based upon the social policies of the state in ways that really didn't factor before. Employees will trump tax breaks.
And climate is definitely not going away as a big priority for young employees.