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Lab session #2: The Human Company

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In April 2015, Luminary Labs gathered convened Lab Session #2 to discuss The Human Company. Over the past 12 months, multiple corporations have radically rethought how they do business by establishing livable wages, developing creative equity plans, offering paid parental leave policies, and even pulling out of an entire state in protest of discrimination. In addition to sending a strong signal that people come first, these organizations are also making an economic argument to investors that employee-favorable policies pay dividends in reduced turnover and improved business outcome.

About #LabSessions
A place and time for founders, designers, developers, data mavens, and innovators of all stripes to help solve for society's most pressing issues.
Each gathering involves a facilitated strategy session, networking, and synthesis, resulting in a tangible plan and new connections for our featured innovator team.
Good eats and drinks are always served.

Published in: Business

Lab session #2: The Human Company

  1. 1. LUMINARY LABS WWW.LUMINARY-LABS.COM @LUMINARYLABS Lab Session #2 The Human Company
  2. 2. Hello! I am @sarita, CEO of @luminarylabs. Welcome to #labsessions
  3. 3. About Luminary Labs We develop strategies and innovation systems for Fortune 500 and government leaders seeking to transform their organizations and industries.
  4. 4. FDA Food Safety Challenge
  5. 5. #EdPrizes
  6. 6. PS: We are hiring.
  7. 7. What is Lab Sessions?
  8. 8. #LabSessions A place and time for founders, designers, developers, data mavens, and innovators of all stripes to help solve for society's most pressing issues. Each gathering involves a facilitated strategy session, networking, and synthesis, resulting in a tangible plan and new connections for our featured innovator team. Good eats and drinks are always served.
  9. 9. From design and systems thinking…
  10. 10. …to design and systems doing.
  11. 11. The 21st Century Business Imperative
  12. 12. What is the purpose of the corporation?
  13. 13. Shareholder value?
  14. 14. “There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase profits…” Doing anything else is “unadulterated socialism.”
  15. 15. Quaker Oats president Kenneth Mason, writing in Business Week, declared Friedman's profits-are-everything philosophy, “A dreary and demeaning view of the role of business and business leaders in our society." Wrote Mason: "Making a profit is no more the purpose of a corporation than getting enough to eat is the purpose of life. Getting enough to eat is a requirement of life; life's purpose, one would hope, is somewhat broader and more challenging. Likewise with business and profit."
  16. 16. A company's primary responsibility is to serve its customers. Profit is not the primary goal, but rather an essential condition for the company's continued existence and sustainability. “A company's primary responsibility is to serve its customers. Profit is not the primary goal, but rather an essential condition for the company's continued existence and sustainability.”
  17. 17. The Human Company #humancompany
  18. 18. “We've sort of destroyed business after business in this country by looking at spreadsheets with numbers we call truth.” Mark Bertolini, CEO, Aetna
  19. 19. Major global companies could save $19 billion a year in recruiting and training costs by adopting 16 weeks of fully paid maternity leave.
  20. 20. “If you feel, respectfully, that you can get a higher return than the 38 percent you got last year, it’s a free country. You can sell your shares of Starbucks and buy shares in another company. Thank you very much.” Howard Schultz CEO, Starbucks
  21. 21. “You can't go to work and think that business should just be about financial profits, because you'd be serving only a very one- sided view of what it means to be a human on the planet. And we live on the planet.” -Rose Mercurio CEO, Patagonia
  22. 22. "He's out there singing, 'Who's going to save the world?' and those messages are right, you need to pay attention to the environment and education," he says. "I'm just adding, integrate your economic engine." (Photo: Jakub Mosur, Jakub Mosur Photography)
  23. 23. But what about small businesses? And startups?
  24. 24. Unlocking the golden handcuffs
  25. 25. Plated chose to establish a new fulfillment center in the Bronx, which also employs homeless veterans through the Jericho Project. And everyone gets equity.
  26. 26. It’s your turn. Yes. You. The startup. The investor. The employee.
  27. 27. We’re going to write the #humancompany playbook.
  28. 28. 4 Topic Areas 1. Compensation: pay, equity, benefits. 2. Career trajectory: investing in advancement and personal growth. 3. Allowing for life: balance shouldn’t be that hard. 4. What is “right”: weighing in on social issues.
  29. 29. How It Works Pick a topic area to start. Each topic area will be staffed by a Luminary and a volunteer. Grab a marker and share policies that have worked, or could work, for early stage companies that aim to be human companies. (Bonus points if you make an economic argument.) Every 15 minutes we will rotate. We’ll regroup to share, and then publish findings.

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