STRONG STANCE ON MARRIAGE EQUALITY PAYS OFF
BUSINESS leaders who have taken a strong public stance in support of same-sex marriage will be rewarded by customers, shareholders and employees, a leading business consultancy says.
The expectation for the corporate sector to show where it stands on key social issues will also continue to grow, Deloitte Australia human capital partner Juliet Bourke says.
“Being a leader and expressing a moral conscience is what customers, shareholders and employees are expecting,” Ms Bourke said.
“Business leaders do feel it’s important for them to be seen as authentic, as leaders of heart.”
The corporate sector yesterday celebrated the majority yes decision for same-sex marriage having strongly backed the marriage equality campaign.
More than 840 companies registered with the Australian Marriage Equality organisation, with corporate heavyweights such as Qantas Airways, Telstra and ANZ taking highly public stances on an issue that boardrooms might historically have viewed as falling outside their remits.
Those positions – particularly the support shown by Qantas chief Alan Joyce, who donated $1 million of his own money to the yes campaign – sparked calls from some conservative politicians for corporate leaders to “stick to your knitting”.
Mr Joyce yesterday welcomed the successful yes vote as the “epitome of a fair go” and proof the nation wanted “to be more inclusive”.
He also defended the airline’s stance on the issue, saying investors were increasingly looking at companies’ social and environmental positions.
“I also do believe there is a business case for this,” he said in Sydney yesterday.
Among 1200 people polled for a study by Deloitte earlier this year, one in four said a company’s position on samesex marriage had influenced their purchasing decisions.
“The majority were leaning into the businesses which represented their values and using their purchasing power to indicate that level of support,” Ms Bourke said.
Telstra chief Andy Penn yesterday tweeted that the yes result was “a great step forward for a more diverse and inclusive Australia”.
ANZ chief Shayne Elliott welcomed the result in an email to staff, saying the bank had “been a consistent supporter of marriage equality”.
The small business sector also backed the result.