Corporate Activism Reaches New Heights | What It Takes To Win The Talent War | How To Reduce Proximity Bias

Plus: 3 ways successful leaders manage their emotions

Hello, and welcome to another edition of the CxO newsletter.

Since my phone lit up last week with push notifications alerting me to Russia’s invasion of Ukraine, I’ve spent countless hours at attention in front of my television. I’ve been inspired by the perhaps unlikely leadership of Ukrainian President Volodymyr Zelensky, a comedian-turned-commander-in-chief who has been both vocal and visible, despite believing himself to be the top target of his enemy. I’ve been captivated by the courage of the Ukrainian people, fighting tirelessly for their freedom. And I’ve been intrigued by the role corporations stand to play in modern warfare.

Airbnb, for instance, announced yesterday that it will offer free, short-term housing for as many as 100,000 Ukrainian refugees, while Etsy said it would cancel the $4 million in balances owed by Ukrainian sellers. Shell exited its joint ventures with Russian state-owned gas giant Gazprom, BP divested its nearly 20% stake in Russian oil firm Rosneft and Verizon waived residential and mobile call fees to and from Ukraine. And as big tech has stepped up—Twitter and Facebook parent Meta moved to take down disinformation on their platforms targeting Ukraine, YouTube temporarily demonetized Russian state media outlet RT and SpaceX activated its Starlink satellite internet service in Ukraine to combat outages—so have the entertainment and sports worlds, as well as the startup community.

In the age of corporate activism, when most people—81%, according to the 2022 Edelman Trust Barometer—believe CEOs should be personally visible in conversations concerning public policy, such pledges are par for the course. But as Edward Segal, a senior contributor to Forbes, suggests in one of his latest pieces, against the backdrop of a crisis like that which is playing out in Ukraine, corporate activism may very well be poised to reach new heights.

Thank you for reading, and feel free to share your ideas with me at vvalet@forbes.com.

What's Next

Crisis In Ukraine: Even before Russia invaded Ukraine, business leaders had been bracing for the extensive ramifications that war in Europe could have for the economy. But had they considered the consequences for corporate governance? “An already fatigued corporate management could be forced to confront the impact of Cold War-like tensions while continuing to address the vicissitudes of a lingering pandemic and working to lead business resiliency efforts,” writes Michael Peregrine, a partner in McDermott Will & Emery’s Chicago office, in his latest for Forbes. Boards of directors, he says, must meet the moment, offering their C-suites the same support and guidance they did during the depths of the pandemic. Here’s how. 

The Great Resignation: Attracting top talent in a tight labor market is no easy feat. Exhibit A: To recruit workers for SevenRooms—a software platform that serves businesses in the hard-hit hospitality and restaurant industries—Paul McCarthy, the firm’s chief people officer, started offering all new employees their first two weeks off. Yes, you read that right. New hires get 14 days’ worth of pay and benefits before they even start their jobs. And he’s not the only one pulling out all the stops. From bigger-than-ever sign-on bonuses to new paid-time-off programs, Forbes' Jena McGregor gives a glimpse of what the competition is offering. (And because the best recruitment strategies mean nothing if you can’t retain your workers, we’ve got a guide for that, too.)

Employee Appreciation Day: Imagine if retaining top talent was as easy as saying “thank you.” It’s no silver bullet, but it can certainly help: According to a survey of over 2,000 workers in North America, Ireland and the U.K. by HR tech firm Workhuman, employees who’ve been thanked by their managers in the past month are more than three times as likely to see a future at their employer than their counterparts who’ve not received such recognition. And those who’ve not recently been praised are twice as likely to be searching for a new job. So this Employee Appreciation Day—yes, it’s a real holiday, and it’s on March 4, so mark your calendar—celebrate your team by giving them what they really want.

By The Numbers

52%

The percentage of women who want long-term work-from-home arrangements, according to a survey of U.S. employees conducted by Harris Poll. Just 41% of men said the same. If you’re among the 41% of executives who, according to a recent Future Forum survey, have concerns about inequities related to proximity bias, read on for insights and advice on how to navigate.

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