Macy’s launches social platform for employees

In November, Macy’s announced an initiative to maintain employee retention and encourage new hires before the Christmas season amid the ‘Great Resignation‘ – this included $500 referral bonuses for staff, an upgrade of employee benefits, and a commitment to raise minimum wage to $15.

Now in March, Macy’s has gone one step further and pledged to spend $5 billion by 2025 to fund their social purpose platform, ‘Mission Every One’.

This initiative aims to have a threefold impact that benefits Macy’s employees, communities, and the planet to “create a brighter future with bold representation for all”.

Jeff Gennette, chairman and CEO, said: “Macy’s has long been a strong partner to the local communities in which we operate.

“But today, as all stakeholders expect more of corporations – and of us – we are taking steps to strengthen how our work contributes to the common good.”

“We are transforming our business from a position of legacy to one of leadership. In this evolution, how we run the business is as important as what we sell.

“As part of our transformation, we seized the opportunity to create a social purpose platform that leverages our scale, unique strengths, and culture to create more meaningful change in the world.”

“’Mission Every One’ will be an essential part of how we operate and the decisions that we make as a business.

“We believe that when our business enables everyone to stand in their truth and have a seat at the table, they realize their full potential, which unlocks innovation and progress for all.”

What are the three pillars?

The three focuses of ‘Mission Every One’ are people, communities and the planet. The idea is to target areas that lack support and equality, and therefore unify the workforce.

People

Macy’s focuses on increasing diversity within its leadership. They have promised an increase in investment in underrepresented designers, brands, business partners, products, and service providers.

A portion of their commitment will fund ‘The Workshop at Macy’s‘; which has helped support over 175 diverse and women-owned businesses since 2011. Macy’s has also allied with the Fifteen Percent Pledge in 2020 which pledges 15% of shelf-space to Black-owned businesses.

Macy’s has also sworn to have a 30% ethnically diverse leadership from the director level and above by 2025.

The second portion of the ‘People Pillar’ focuses on creating a more affordable lifestyle for both salary and hourly workers. Joining with Guild Education, Macy’s is providing a fully funded education benefit program. Additionally, beginning 1 May 2022, the minimum wage will also increase to $15 per hour.

Communities

Macy’s also commits to supporting and encouraging the next generation through donating $100 million by 2025 to non-profits that promote wellbeing and education of underrepresented youth communities. Donations will be provided through customers who partake in the round-up campaigns, corporation grants, and college donations.

The company also vows to inspire the next generation of designers and creators by funding programs and scholarships for youth in fashion, design, and sustainability. The company will also offer mentorship and employment opportunities to these young designers and creators.

In addition, Macy’s plans to use Women’s History Month (running from 1 to 31 March) to dial-up its support of Girls Inc, a charitable organization providing mentorship to young women across the US.

Planet

In the last pillar, Macy’s promises to increase its use of sustainable materials, care for people and the planet and innovate for a more sustainable future.

As part of this, Macy’s wants to advance worker’s rights, women’s equality, and family wellbeing. The plan is to do this by investing $500,000 by 2025 into non-profits, including Fashion Makes Change.

Will Macy’s commitment to diversity, affordable living, and sustainability encourage other retail giants to follow suit?