To modern workers everywhere, |
I recently finished Good Company, the new book by Arthur Blank. It's a solid read that will catch you up on all of the enterprising and philanthropic efforts the Home Depot co-founder has taken on in the second, third, and fourth acts of his successful career—as an NFL owner, a guest-ranch operator, and the head of a family foundation, among other endeavors. |
But the most remarkable section of the book comes in the introduction, which suggests that a growing number of young people are uncertain they would want to follow in his footsteps. |
"If there's one question I hear above all others from the business school students I meet," Blank writes, "it's this: Does my choice to pursue a career in business conflict with my need for meaning and purpose and my desire to make a positive difference in the world?" |
It's an earnest question that is threatening to become a crucible for big business. And Blank is sympathetic. "I have college-aged children of my own, and I hear the same concerns around the dinner table. They're searching for better solutions, new approaches, fresh answers," he writes, adding, "I'll be honest—I don't think I was asking such deep or thoughtful questions on the day I walked across the stage in my cap and gown at Babson College in 1963." |
But as a leader, Blank found that profit and purpose can go hand in hand. This is the major theme of Good Company, along with the idea that the values and culture that produce success at one company can be introduced to others. He offers many examples of this, including Home Depot's decision in 1999 to supply lumber exclusively from sustainable sources. But even Blank acknowledges that the quest for purpose has taken on far more urgency in the ensuing years. In a recent interview, I had the opportunity to ask him why he thought this was the case. |
"When I was growing up," he said, "people felt companies were there to make profits, and if you gave back a little bit, that's ok." What we are seeing now, he suggested, is a result of "the complexity of life" today, the impact of the internet and social media, and the angst of a generation that is less happy than those before it. As he notes, a lot of workers "are asking employers to take positions on social issues: racial unrest, police brutality, climate change—they want to see institutions more involved." |
To Blank, this is all good news. "It doesn't negate profitability," he says. "I'm thrilled to see our young people becoming less settled, less patient—they're owning their environment and owning the opportunity to make a difference."—Heather Landy |
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Five things we learned this week |
The way we run meetings now is hell for working moms. A few small changes could make a big difference for moms—and everyone else. |
Countries are competing for skilled migrants fleeing crackdowns in Hong Kong and Belarus. It's the latest example of how one country's political crisis can create an economic windfall for another. |
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With interest rates near record lows, retirement may have to wait. Retirement savers may never have had it more difficult. |
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How to be "indistractable" |
You might not be able to clear away the obligations or temptations threatening your focus on work when you're working at home, but there are steps you can take to keep these forces from completely taking over your time and concentration. At our Oct. 15 Quartz at Work (from home) workshop, Indistractable author Nir Eyal offered practical advice for warding off distractions, and Quartz's Phoebe Gavin was back with more productivity tips. Watch the replay and read the full recap here. |
Coming up next Thursday, Oct. 29, we'll host a free, one-hour workshop on how to support mental health at every level of your organization. |
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30-second case study |
Jobs in the fossil fuel industry have an unsavory carbon footprint and are highly vulnerable to market fluctuations, but they tend to be well-paying and come with good benefits. As Quartz's Tim McDonnell reports, a US worker on an oil rig can earn around $180,000, whereas wind turbine technician salaries start under $55,000. |
Those kinds of disparities are complicating America's transition to clean energy, a sector where there is relatively scant union representation, and where some of the highest-skilled jobs—assembling solar and wind electrical components, for example—are still performed offshore, mostly in Asia. |
As a result, a rift has formed between some labor groups and environmentalists. The AFL-CIO, unlike some of its peers, has pointedly not endorsed the Green New Deal championed by liberal Democrats in Congress. And some labor leaders in California and elsewhere have joined oil and gas companies among the most vocal opponents of new climate legislation. |
The takeaway: It's easy to be seduced by the vision of a coal miner or gas-fired power plant operator laying down their fossil fuel arms and climbing up onto a roof to install solar panels. The reality is messier. Labor economists suggest that if Joe Biden wins the White House and wants to champion clean energy jobs for the good of both the environment and the economy, he will need to do more than incentivize innovation—he'll need to enforce better labor standards, too. |
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Words of wisdom |
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With exponential advancements in tech and the rapid socio-cultural shifts we're witnessing, the leaders of tomorrow can advise the leaders of today on how to tackle challenges that the new decade will bring.—Rebecca Robins, global chief learning & culture officer, Interbrand |
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Podcast fever |
Even with fewer people commuting to work—a popular time for listening—Covid-19 couldn't stop the rise of podcasting. Downloads in the US have soared in 2020, according to data from podcast measurement company Chartable. |
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The pandemic does seem to have affected what people are actually listening to, though. Find out which genres exploded, and which have seen virtually no growth, in our field guide to the podcast business. |
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Not yet a Quartz member? Get unlimited access to each of our weekly field guides, and all of Quartz's global journalism, with a Quartz membership. Use the code QZTWENTY to get 20% the first-year subscription price. |
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ICYMI |
Want to make sure you're getting the training you need to keep your knowledge relevant and your skills fresh? There's a good chance your employer can assist with that. In this gem from the Quartz at Work archive, PwC's Carrie Duarte lays out the questions you should be asking your manager or HR department to help future-proof yourself in the workplace. |
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You got The Memo! |
Our best wishes for a productive and creative day. Please send any workplace news, comments, leadership books, and mom-friendly Zoom meeting tips to work@qz.com. Get the most out of Quartz by downloading our app and becoming a member. This week's edition of The Memo was produced by Heather Landy and Sarah Todd. |
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