Hartford Business Journal

20 Hartford Business Journal • May 21, 2018 • www.HartfordBusiness.com EDITOR'S TAKE Gubernatorial race should focus on substance over style C onnecticut voters looking for pizzazz in their gubernatorial candidates this year will be woefully disappointed. As Democrats and Republicans begin to slowly thin their list of contenders for the state's highest political office, it appears we will be left with more mild-man- nered, cerebral candidates. And there's nothing wrong with that. In fact, that is just what this state needs right now because it means the elec- torate will be less apt to vote for or against a big personal- ity and — hopefully — focus more on the issues. The last thing we need is a bombastic governor whose demeanor alone will further exacerbate the partisan divide. We are already getting enough of that on the federal level. Gov. Dannel P. Malloy himself — a self-described "porcupine" — rubbed many people the wrong way and was largely ineffec- tive in bringing both parties together. The lack of big personalities means candidates will need to take more definitive stances on controversial issues to stand out — some- thing rarely done in major elections these days. With the significant challenges facing Connecticut, I don't think kowtowing to predictable party platforms will win you the general-election ticket. On the Republican side, Danbury Mayor Mark Boughton is the front-runner after winning the GOP endorsement for governor at the party's recent conven- tion. He still faces a tough primary challenge, but has the wind at his back. Ned Lamont remains the front-runner on the Democratic side. And let's not forget about Oz Griebel, the Republican-turned-Independent candidate whose self-funding campaign is looking to get 7,500 certified signatures from regis- tered voters in order to get his name on the ballot this November. Notice anything in common about all three candidates? They are all white, middle-aged, and tranquil men. There's nothing wrong with that per se (although a little diversity might help), but the debates this fall won't be considered must-see TV. That's why it's paramount that candidates come to the table with well-defined blueprints on how to fix our state's budget crisis, deal with burgeoning unfund- ed liabilities, and create a tax and regulatory climate that promotes long-term economic growth. There are no easy answers to any of those problems but real- world ideas must be shared and fleshed out. One of the problems today with the media and the public in general is that we are more obsessed with politics than policy. We love to read about and watch political melodramas play out, rather than focus on where candidates stand on the issues. Why do you think TV news ratings have hit record highs under the Trump administration? It's not because the public is wooed by the president's intellect. They want to see what outrageous things he will say or Tweet next, and then marvel over the opposing party's reaction. A perfect example of the style-over-substance obsession was the coverage of the recent state GOP convention. Most of the news stories focused on the political gamesmanship to secure delegates, which, of course, was a huge part of the story. But there were far fewer stories that really delved into policy differences be- tween the candidates. Mostly what we got was broad-brushed character labels: Peter Lumaj was the Trump conservative; Tim Herbst was the combative Repub- lican; Steve Obsitnik was the tech entrepreneur/businessman; and Boughton was the moderate candidate. What about a deep dive into how Connecticut would balance a budget without an income tax? For those of you who don't know, Boughton said last year that if he was elected governor he would phase out the income tax over 10 years. That's a pretty bold proposal considering Connecticut faces billion-dollar defi- cits in the years ahead and the income tax accounts for nearly half of the state's $20 billion budget. Luckily, we still have plenty of time before the party primaries and general election to learn more about where candidates stand on issues. Let's be sure to hold them accountable. COMMUNITY CONNECTIONS Hartford needs more 'conscious capitalists' By Ted Carroll Y ou have heard it said many times: "If nonprofit organizations were run more like businesses, they'd be more effective." As someone who has spent his career in nonprofit management, I used to cringe when I heard those words. In my most honest moments, however, I began to realize the truth behind that statement. In fact, non- profit groups could all stand to be more disciplined and results-oriented, much like successful businesses. At the same time, however, business leaders can learn from nonprofits. In particular, they are beginning to understand that people are motivated, often more powerful- ly, by a sense of mission or purpose that goes far beyond making money. These enlightened business lead- ers are referred to as "conscious capitalists." In addition to embracing a higher purpose for their compa- nies, these executives work hard to balance stakeholder interests, create a "conscious culture," and practice a style of leadership that puts the needs of others above their own. I was delighted to learn recently that these "conscious capitalism" principles are becoming embedded in such successful and diverse corpora- tions as CarMax, Whole Foods, Disney, Amazon, Nordstrom and others. There is growing evidence that blending our highest ideals with pragmatic business practices can produce gains for the company's shareholders, its employees and cus- tomers, and the world at large. In her book, "SuperCorp," Harvard Business School professor Rosabeth Moss Kanter writes that "for years, lip service has been paid by many corporate leaders to achieving high performance and being a good cor- porate citizen." She discovered in her research, however, that "business per- formance and societal contributions are, in fact, intimately connected." The highest-performing companies tend to use their unique strengths to pro- vide new solutions to educational, so- cial and health challenges. And while Kanter learned that these initiatives are often undertaken without a direct profit motive, they help to sustain a high-performing culture that, ironi- cally, results in higher profits. By way of example, Kanter cites IBM's frequent responses to earth- quakes or other natural disasters. The blue-chip company has rushed people and goods to affected areas, even when their customer bases or supply chains weren't affected, simply because they had the technological wherewithal to make a difference. In the process, the company has realized greater employ- ee engagement, increased company pride, enhanced brand recognition and new innovations. At their best, some of our largest em- ployers in Greater Hartford, including Travelers, The Hartford, Cigna, Aetna, United HealthCare and Pratt & Whit- ney, have long demonstrated a com- mitment to more than just maximizing profits. These companies encourage and support their employees who wish to become better community leaders, serve on nonprofit boards and engage in other civic ventures. They under- stand that their employees, particularly Millennials, have a growing sense of re- sponsibility to the world around them and "consciously" create opportunities that meet both their employee engage- ment and civic responsibility goals. Farmington health insurer Con- nectiCare has just launched an effort with Leadership Greater Hartford to engage its healthcare customers in an initiative they are calling "Good Deeds." During one recent Saturday morning, some of these members joined ConnectiCare employees in a beautification project along a blight- ed stretch of Capitol Avenue. Said one member, having just completed sweeping debris from a sidewalk, "it simply feels good to give back." I am encouraged by these "mis- sion-based" business practices, but we need to accelerate this trend in Greater Hartford. As such, Leader- ship Greater Hartford has recently established a partnership with "Conscious Capitalism," a national organization that has a budding Con- necticut chapter. In the natural word, plants are always turning to the sun so that they can grow strong and healthy. This spring, we witness once again how magnificent flowers and plants are searching for the light. Perhaps this will be the season when all or- ganizations, for-profit and nonprofit alike, will seek the light and enjoy the growth that can come from working for a higher purpose. Ted Carroll is the president and CEO of Leadership Greater Hartford. Opinion & Commentary Greg Bordonaro Editor Ted Carroll

• Cover