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EXECUTIVE SUMMARY
The phrase “What a difference a year makes” was never truer than in 2020. A year ago, The Conference Board published its first report on the topic of how organizations manage social change, Higher Expectations: How Organizations Engage With Social Change Issues. We highlighted the fact that organizations are now being judged on the quality of their relationships with customers, employees, owners, and communities while being expected to play a role in social change conversations. These higher expectations accentuated organizations that were purpose-driven, as well as profitable.
In November 2019, the COVID-19 pandemic hit, and as it spread globally, a domino effect ensued that demonstrated weaknesses in health care systems (national and private) which cracked under the pressure of managing the magnitude of serious and fatal cases. The shock of the pandemic and shutdown measures plunged the global economy into a severe contraction, as millions lost their jobs to furloughs and layoffs. Remote work became the norm wherever possible due to government-mandated lockdowns. In addition, shortages of food and basic necessities due to supply chain disruptions caused widespread panic. Schools and facilities for childcare, seniors, and other dependents closed, creating new, 24/7 responsibilities for many employees.
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January 12, 2021 | Charts
December 21, 2020 | Research Report
