What’s going on:
Investors from 60 major companies including Walmart Inc. and Amazon Inc. have filed over 140 shareholder resolutions this year, according to Bloomberg. Reportedly, Amazon is looking at five shareholder resolutions and Walmart is reviewing four – including worker safety and pay disparity.
Why it matters:
The growing attention to employee-related issues is shifting the way companies structure their corporate cultures around the world. These shareholder resolutions in 2023 are giving companies a collective opportunity to reassess their expectations around working hours, remote work options, and paid leave policies to ensure they are meeting the needs of their employees.
The current labor market has already experienced large labor strikes, high rates of labor shortages, and rising inflation rates in 2023. The need to retain talented employees will continue to be a fundamental undertaking – one that will impact large companies like Apple Inc. and small local businesses alike.
How it’ll impact the future:
Moving forward in 2023 and beyond, businesses may choose to be more transparent and accountable to their employees. As major companies like Amazon and Walmart set workforce trends that are typically adopted across the country and around the world, more employers may follow and place efforts on giving employees work-life balance this year.