Learn with Leena - Highlights from Davos World Economic Forum 2020

After a very busy start to the year, I wanted to take some time to share some of my reflections on key themes and trends from Davos.

(Click here for my highlights from CES)

A SENSE OF URGENCY

What was most apparent to me during my week at WEF was the tangible sense of urgency. It permeated every conversation and every engagement.

It’s about time: we long ago lost the luxury of inaction.

In the 2020 Edelman Trust Barometer, two-thirds of the respondents said they didn't have confidence in their current leaders’ ability to effectively address the challenges they face today. More worryingly, 83% of people are concerned about what the future of work will mean for their livelihoods. This is startling, and it’s a clear call to action for all. The week reinforced for me that accelerating our Unilever Compass priorities has positioned us very well to lead the charge .

STAKEHOLDERS, NOT JUST SHAREHOLDERS

One significant shift was how organisations, businesses and governments were far more focused on tangible actions in addressing our biggest challenges. It was heartening to see. For the first time, there was a clear integration between the agenda of 'needing to “do good”' and 'doing good business'. The boundaries between the two are becoming more permeable, which is an important step towards more businesses embedding sustainability in their business models.

It was particularly interesting to see the discussion on ESG Investment Metrics, and the push from the investor community for these to broaden further and create shared measurement systems. The need to create common frameworks for more transparency and effective measurement standards is very much on the agenda.

DIVERSITY AND INCLUSION

You'll be glad to hear that I witnessed an increasing richness in the discussions on diversity and inclusion. This was truly diversity in its broadest sense: whilst there was still a major emphasis around the importance of gender diversity (particularly relevant with only 24% women attendees at Davos), we also saw a lot more conversation in the areas of LGBTQ+, disability, social diversity and economic inclusion.

Combined with the focus on creating more common frameworks, I believe we'll see a trend towards increasing accountability in how organisations engage with their employees and communities. 

RESPONSIBLE MEDIA

The rise of the internet and global connectivity has been amongst the most transformational achievements of the modern age. But as online safety has exploded into a much bigger, societal issue – beyond just the safety of our brands – it became clear to us at Unilever that the only way to accelerate real change was to collaborate more broadly. This is why I was extremely glad to see the work Unilever is doing with our partners in the Global Alliance for Responsible Media. It is an excellent example of how to tackle global challenges through collective action.

If we are to truly realise the positive potential of the future, we must ensure a safe digital media environment for all. 

[Read my article about GARM here: Why online safety is something society must fix together]

• @LeenaNairHR

FUTURE OF WORK

I noticed this topic has started to mature, shifting from a conceptual discussion point, to real world action. I was immensely proud to be part of the WEF Panel on Driving People Strategies for the Fourth Industrial Revolution, where the discussion for the session was anchored around the six major business imperatives identified in the WEF Whitepaper (co-authored by our Unilever team).

Three big trends were discussed in the context of Future of Work: Human-centred Technology; Education' and Mental and Financial Wellbeing.

• Human-centred Technology: Firstly, we must think more deeply on the impact and consequences of technology. We are already seeing the negative impact that increasing connectivity has had on society – with issues around social isolation, stress and anxiety. So how can we enhance the human experience through technology, especially in the workplace? Unless we continuously and consciously design human/ technology experience which are less threatening, we run the risk of alienating people and leaving them in a fearful place.
• Education: The second trend that I saw in this area is the broadening of the conversation on reskilling and upskilling to include a focus on education, as well as new employment models. We know our economy is shifting towards an innovation-based economy that is driven by human creativity. This means major shifts are needed in building the skills required to contribute to the economy. However, the reality is that most education systems still rely heavily on passive forms of learning, focused on direct instruction and memorisation, rather than the interactive methods that promote the critical and individual thinking needed in today’s innovation-driven economy. Without shifting our education systems, we will always be playing catch-up in how we reskill for the future of work. The key question yet to be answered is: what role do businesses need to play in this transformation?
• Mental Wellbeing: There was understandable concern on the topic of wellbeing. Given the rate of change we are seeing in the broader environment – the increased uncertainty around jobs and the low levels of trust – wellbeing was an area of intense focus. We need to reset norms around what it means to thrive in the workplace. By doing this, and leveraging new technologies, I believe we can kickstart a new S-Curve on wellbeing. I am excited to see the beginnings of a global movement on acceptable Workplace Mental Health, and look forward to continuing our collaborations with agencies like United for Global Mental Health, WHO, WEF and The Wellcome Trust.
• Financial Wellbeing: We know that a major source of stress and anxiety is linked to financial wellbeing. In a world where there will be more uncertainty around jobs and security, issues like fair living wage and protection of livelihoods will surely receive more scrutiny. Once again, I was heartened to see that our existing People with Purpose Thrive agenda puts us in a position to lead on this.

I was immensely proud of what we were able to share at Davos collectively as a Unilever team. It truly demonstrated our commitment to being a force for good in the world. The work is just getting started, but I am excited to see where we can go together.

Further Reading: My Twitter thread about the talks and panels I attended.