While sexual harassment has many causes, it has begun to attract investors’ attention.
Harvey Weinstein. Bill O’Reilly. Roy Price. Kevin Spacey. The list of prominent men recently accused of sexual harassment goes on, and on, and on. So, too, do the costs of such behavior, in ruined reputations, aborted careers, and shattered companies, not to mention dollars and cents. Investors also have a lot at stake.
The greatest cost, of course, is borne by the targets of predatory behavior, mostly women, many of whom have been newly empowered to share their stories publicly in recent weeks. The numbers suggest that their experiences are just the tip of an ugly iceberg. According to the Equal Employment Opportunity Commission, one in four women in the U.S. experiences sexual harassment at work. Based on a recent Wall Street Journal/NBC news poll, that figure could be closer to 50%.
Whether or not snowballing accusations of sexual misconduct, and the backlash they have sparked in the U.S. and abroad, are a watershed moment for the culture, as many hope, they are a piercing wake-up call for corporations and investors. Companies that tolerate or cover up sexual harassment, perpetuate a culture that fosters it, or fail to provide proper avenues for employees to report concerns and offenses, could pay in multiple ways, from difficulties in attracting, retaining, and motivating talented workers to customer defections, ruined business deals, and lost revenue and profit.
www.barrons.com
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