Countless companies adopted virtue signaling, the practice of showing their moral correctness on a range of social issues, from sustainability to diversity. Most did it to burnish their brands and hold onto woke employees.
But then politicians, activists and those woke employees began to pressure companies to take stands on contentious, real-world issues. Companies became embroiled in controversies, pissing off their customers, shareholders and “unwoke” employees. What was once a halo over their heads had become a millstone around their necks.
So CEOs pulled back from social issues and got back to business. Social activists looked for new allies.
But then politicians, activists and those woke employees began to pressure companies to take stands on contentious, real-world issues. Companies became embroiled in controversies, pissing off their customers, shareholders and “unwoke” employees. What was once a halo over their heads had become a millstone around their necks.
So CEOs pulled back from social issues and got back to business. Social activists looked for new allies.
