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17 MAY 2019

'The System Hasn’t Worked'

— Corporate Leaders
Grapple With Elite Angst At
Davos

ARUN SUDHAMAN 22 JAN 2019 // 10:17AM GMT

Outgoing Unilever CEO Paul

Polman believes we will see more
citizen unrest until growth becomes
more inclusive, in comments at
Edelman's Trust Barometer panel in
Davos.
DAVOS — Big business will continue to pay the costs for a loss of trust,
including rising citizen unrest and environmental instability, unless it rapidly
reorients itself towards a more inclusive growth model, said outgoing Unilever
CEO Paul Polman today at the World Economic Forum in Davos.

Polman made the comments at Edelman's Trust Barometer session, during which
he bemoaned the slow pace of many companies in adapting to rising anger
towards business and political elites. That trend was again underscored by this
year's Trust Barometer research which moderator Gillian Tett from the Financial
Times dubbed as "an absolute scream of anger and pain by ordinary populations
against the elites."

"The idea that only one in five people think the system is working for them, is
terrifying," said Tett. "The fact that so many people are scared of the future is
startling."

Polman pointed out that the costs of inaction are real, as Oxfam reportsthat the
world's 26 richest people own as much as the poorest 50%. "We have to create a
system that is more inclusive," he said. "All of this is happening at a time when
global governance is falling short."

In addition to income inequality, Polman also called on business to tackle climate

change. "It’s an issue of partnerships," he explained. "We all know to do these
partnerships...requires a different level of trust."

He also noted that popular protests, such as the gilets jaunes movement in France,
will only increase in the current environment. Polman framed the cost of inaction
as a "trust tax" that companies seem happy to pay. "We’ve become strange human
beings - we’d rather pay for the consequences than take the time to build the
partnerships and attack these underlying issues."

"I’m surprised that companies keep going like this," added Polman. "Goodwill
used to be 15% of asset base, now it’s 70%. Anytime trust is violated, not only
does the CEO lose his or her job, but 30% of the value of the company is being
wiped out."

Unilever CEO Paul Polman

Former US commerce secretary Penny Pritzker added that we should not be
surprised about the level of fear revealed by the Trust Barometer research.
"Frankly, I think the root cause is this lack of real inclusive growth; the system
hasn’t worked," she said. "For the average man in the US, they are behind and
losing ground every day. I don’t blame people for being terrified."

Like Polman, Pritzker called on business to work with governments to tackle

problems. "I think the solutions are local and require partnership," she said.
"That’s why they are hard. What is the role that people are looking for the CEO to
play? I think it’s an ability to put together partnerships that can solve problems."

But Save the Children CEO Helle Thorning-Schmidt, cautioned that companies
must be willing to address their own policies towards inclusive growth if they
want to rebuild trust. "Is big business ready to go the extra mile to create that
trust?" asked Thorning-Schmidt. "Do they understand what that means? New
standards for transparency, accountability, asset sharing, living wage for
employees, taxation to a completely different level. We forget the big picture that
will actually change the world."

"It is about big corporations making sure they play by the rules, and pay their
tax," added Thorning-Schmidt. "Are we actually changing the way we govern
globalisation, in a way that it becomes much more trustworthy…to be more fair?"

Both PayPal CEO Dan Schulman and new Unilever CEO Alan Jope reiterated the
view that companies can only deliver change by thinking clearly about their
values and then behaving on them. That kind of attitude, they said, becomes more
important in an era when employees, as Richard Edelman put it, are emerging as
the most important stakeholder group, with "two-thirds of workers afraid of being
replaced by machines."

"You’ve got to inform your employees first, not last," said Edelman. "You’ve got
to make them your primary objective. If they are informed, they will speak on
your behalf."

"If you have employees that are proud to be there, they serve customers better,
you serve shareholders well," responded Schulman. "We have to focus on what
our mission and vision is, and what our values are. What can we make a
difference in?"

Jope pointed to the benefits Unilever has experienced by putting 20k of its
employees through a programme that aligns their personal values with the
company's mission. "Engagement shoots up and retention shoots up," said Jope.
"When we can expand it to the 3m ppl who work with our business every single
day, I think we can have an impact that goes beyond the elites at Davos."

"I think it’s time for business to take the responsibilities we’ve been given,"
concluded Jope. "Companies with purpose last, brands with purpose grow, people
with purpose thrive."

WHO and WHAT is behind it all ? : >

The bottom line is for the people to regain their original, moral principles, which
have intentionally been watered out over the past generations by our press, TV,
and other media owned by the Illuminati/Bilderberger Group, corrupting our
morals by making misbehavior acceptable to our society. Only in this way shall
we conquer this oncoming wave of evil.
Commentary:

Mr Polman has hit the nail on the head. Non-inclusion is one of the biggest
problems in the relationship between the global elite and employees.

Firstly, moving their large corporations overseas to attain cheaper production

cost i a stab in the back for the employees they leave behind. Secondly, abolishing
the earlier compulsory profit sharing scheme has also had a general effect of
minimizing normal salary increases, which, together with escallating living cost,
has made it unbearingly tough for most employees. This has also caused a
mistrust of the companies leadership, who, apparently only care for their OWN
welfare.

As we all know the unescapable formula between employers and employees to

create a successful business based on hard work rather than playing the stock
market, all future business growths must become considerably more inclusive.

Administrator

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