NORTHBROOK, Ill., Sept. 29, 2016 /PRNewswire/ -- The role of
corporations in America needs to change, wrote Allstate Chairman
and Chief Executive Officer Tom
Wilson in the Washington Post.
"Corporations should be encouraged and rewarded for stepping up
to solve society's problems," Wilson wrote. "That will require a
change in mind-set. Today, corporate leaders are graded on stock
price, not on the amount of good their companies do. We must
broaden our evaluation of corporations beyond share prices to
provide space, light and water for their role to grow. Shareholders
should be asking how corporations are building intangible assets
such as customer relationships, their employee bases and their
reputations, not just pushing for share buybacks."
Wilson went on to say that successful corporations of tomorrow –
"22nd Century Corporations" – should step up to help solve
society's problems. In addition, he cited examples of how fully
integrating social good into a corporation's purpose is good for
business. Helping communities raises a company's reputation among
customers, which supports growth and helps them attract, develop,
motivate and retain the best workers. Stronger, more prosperous
communities with better-educated workers and customers also provide
a much better economic and business climate.
Wilson periodically provides comment and insight about timely
business and policy topics in national media outlets, and his
articles have been published in the New York Times, Washington Post and
CNN.com. In addition, Wilson recently authored a Huffington Post
article on youth empowerment. As CEO of Allstate, Wilson's emphasis
has been not only on doing the right things (such as investing in
cutting-edge innovation), but on doing them in the right way – such
as optimizing the pace of change and investing in the people of
Allstate.
Wilson introduced the concept of a 22nd Century Corporation in
Allstate's 2015 annual report (see www.allstate.com/annualreport)
and corporate responsibility report (see
http://corporateresponsibility.allstate.com/leadership-messages).
In addition, Wilson has overseen a cultural transformation at
Allstate, which is transitioning from a products-based company to a
value-based organization that "brings out the good" for customers
and Allstaters while focusing on "doing good" in areas such as
empowering youth, helping domestic violence survivors, promoting
teen safe driving and safer communities.
The Allstate Corporation (NYSE: ALL) is the nation's largest
publicly held personal lines insurer, protecting approximately 16
million households from life's uncertainties through auto, home,
life and other insurance offered through its Allstate, Esurance,
Encompass and Answer Financial brand names. Now celebrating its
85th anniversary as an insurer, Allstate is widely known through
the slogan "You're In Good Hands With Allstate®."
Allstate agencies are in virtually every local community in
America. In 2015, The Allstate Foundation, Allstate, its employees
and agency owners gave $36 million to
support local communities.
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SOURCE The Allstate Corporation