Woke capitalism risks derailing the recovery: Bosses forced onto social media to speak out on issues such as social justice and the environment

Companies are getting harder to run because bosses are having to engage with social media on issues such as social justice and the environment.

A survey by New York global advisory firm Alix Partners found that chief executives are increasingly anxious about it.

AlixPartners’ British-born boss Simon Freakley said: ‘The pressure to speak out on things that matter is a real pressure.’ 

It comes on top of dealing with challenges from supply chains to skills shortages and the need to adopt new technologies, in the face of an economic downturn.

The findings come after claims that ‘woke capitalism’ risks derailing the UK’s post-pandemic- recovery.

Freakley said: ‘You still have to be profitable, you still have to grow – all the similar pressure from investors there’s always been but in addition to that now there are new requirements.

‘Chief executives need to be their own chief communication officers because they do have to have a voice and point of view on a range of issues in addition to just the economics of their businesses, whether it’s social justice, the environment, other very important global issues.

‘Of course customers expect it. It’s a new pressure over the last number of years but it’s a real responsibility.’

Asked if that was a factor making it more difficult for chief executives to do their job, he said: ‘It absolutely is. It’s just the multiplicity of issues that layer on top of each other.’