Helping your customers experience happiness.
These days, it’s hard to avoid headlines on what the world’s billionaires are up to. How long was Jeff Bezos in space? Is Elon Musk going to Mars? Will Rihanna ever drop that album? But one issue always tends to be front and center: how billionaires navigate donating to charity.
Now, the expectation for the richest among us to donate money wasn’t always in place. In fact, it wasn’t until the mid-1800s that George Peabody became the first self-made millionaire to start giving back to his community. George had grown up in poverty and was passionate about giving children access to better education and housing, so he created the world’s first-ever non-profit: The Peabody Education Fund.
Finding a cause that resonates with you can be easy. But finding a way to authentically support that cause with your company and CX can be tricky to navigate. To find out how to do it well, we reached out to Laura Barbieri, Manager of Corporate Social Responsibility and Community Relations at LG. She shares how LG’s Experience Happiness program is helping kids around the country improve their mental health, and how you can find a cause that’s aligned with your brand’s values.
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"In order for corporate social responsibility to take center stage, it has to be the lifeblood of the company." - Laura Barbieri, Manager, CSR & Community Relations at LG
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Time Stamps
* (0:00) The world’s first non-profit
* (7:24) What is LG’s Experience Happiness program?
* (8:51) The current state of the global mental health crisis
* (12:21) How to start giving back
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Sponsor
This podcast is presented by Oracle CX.
Hear more executive perspectives on CX transformation at Oracle.com/cx/perspectives
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Links
Connect with Laura on LinkedIn
Check out LG's Experience Happiness Project
Narrator: George Peabody had made his millions. Near the end of his career, he had climbed every social ladder and was planted firmly at the top of both American and European society. His career and reputation were so untouchable that even when Queen Victoria offered to make him a baron—he passed. There wasn’t much it would do for him, and it seemed a little awkward.
And to be deemed awkward by one of the richest men of the times...well, said a lot about George. George, like many of our protagonists on this show...was born into severe poverty. Being 1 of 7 children and losing his father at a young age, he experienced many hungry nights, and not very many days in school. Once, he had said, “I have never forgotten, and never can forget the great privations of my early years.”
Looking for a way to escape his modest upbringing, once he got older, George looked to banking. He connected to the right people, and after 20 years had started to make a name for himself. As a financier, George realized that he had outgrown the U.S. He needed something more to push him forward, so he looked across the Atlantic.
At the time, London was the finance capital of the world. Everything made its way through London, and everyone wanted their share. So like Scrooge McDuck diving into a pile of coins, George went all in....but he always stayed eerily frugal. While his peers overspent on lavish transportation and parties, George famously would wait at bus stops to avoid paying an extra penny in fare.
George started the George Peabody & Company, then met a man named Junius Morgan and founded Peabody, Morgan and Company. Eventually the firm changed hands to Junius’ son, who renamed the bank after himself. J.P Morgan was born.
His deep knowledge of finance led him to be the main liaison between the U.S. and London. He built up enough trust that when the US was “accidentally forgetting to pay their debts”, the Londoners trusted him to get their money back. And that he did. Building the United States’s international credit...and getting ridiculously loaded at the same time.
By this time, George had accrued the modern day equivalent of well over 500 million dollars. But that obscene amount of money didn’t sit well with him. Never forgetting his modest roots, George stayed clued into the suffering of the world. But after looking around, he realized most of his peers weren’t.
In the mid 1800s most of the wealthy people were born into wealth. Our modern idea of The rags to riches American dream pretty rare. And if you did get wealthy you passed it on to your family. And wealthy families generally didn’t share.
The entire concept of charity was not commonplace, mostly coming from churches or the occasional wealthy family. any self-made millionaires weren’t too keen on switching up the status quo. But George saw things differently.
In a time of hoarding wealth, George became the first to give it away. But first he needed to invent something that could hold his donation. He founded the Peabody Education Fund— essentially the first non-profit to ever exist.
The fund created a new type of giving that didn’t have restrictions, where trustees would mange the money and donate how they saw fit.
George’s focus was always on education. He believed that if you wanted lasting change, you needed to invest in a better education, not just handing out resources. So he started with donating to and creating libraries and museums. Then once the American Civil War ended, he stepped in to help rebuild the South.
Instead of building new schools, George opted to bolster up existing ones. He rebuilt and funded schools all across the South to help get families back on track. George grew up in Massachusetts but he believed that the South needed better education for future generations.
In a very young America, George championed the spirit of not relying on the government to solve the problems of the people. He put his own money to work and is now widely considered the Americas first philanthropist.
His money undoubtedly helped thousands and thousands of students.
But perhaps his greatest impact was showing other self made entrepreneurs and business leaders what could be done.
His work directly inspired the likes of Johns Hopkins, Andrew Carnegie, and John D. Rockefeller but his spirit lives on in all of us who find a cause that we care about and donate.
So what can CX leaders learn from George Peabody?
Authenticity is key.
Let’s dive into the world of corporate philanthropy and learn how to help others swim in Scrooge McDuck’s money pool.
Welcome to Often Imitated, a podcast about remarkable experiences from the past, and how they inspire people to create great customer experiences today.
This episode is all about finding authentic ways for your brand to do good. We talk about the father of philanthropy, George Peabody, and what CX leaders can do to follow his example today. In this episode we’ll hear from Laura Barbieri (BARBIE-EH-RI), Manager of Corporate Social Responsibility & Community Relations at LG about how they’ve created an entire division dedicated to helping kids across the country have access to mental health resources.
Often Imitated is brought to you by the generous support of our friends at Oracle. Make every interaction matter with Oracle Advertising and CX. Connect all your data and empower your entire business to deliver exceptional customer experiences from acquisition…to retention…and everything in between. Learn more at oracle.com/cx.
By the time George died, he had donated today’s equivalent of about $278,000,000— cementing himself as the father of philanthropy. Through his fund, he set the standard for the business world to donate parts of their personal fortune, which *some* of the world’s richest today follow.
Though the Peabody Education Fund eventually dissolved, George’s legacy as a philanthropist lives on.
At the end of the day, George wanted to do good. Donating half of his wealth to schools obviously didn’t make him richer, it didn’t increase his banking profile, and it didn’t get him any kickbacks. But because of how he was raised, and the journey his life had taken, George Peabody saw that giving back was the only authentic way he could live. It was the right thing to do, and so he built his life and his company around it.
So how can modern day corporations follow Peabody’s footsteps to create something unique and authentic?
We spoke to Laura Barbieri, who’s the manager of Corporate Social Responsibility & Community Relations at LG. She shared what they’re doing to lead the tech industry in philanthropy.
Laura: So back in 2017, LG was really sort of investigating different causes that they might want to, you know, throw their weight behind.
Um, they wanted something that really would allow us to lean into LGS mantra and slogan that life's good. And, you know, wanting to sort of find a white space where there weren't a lot of other corporations. And so in our investigation to sort of identify a cause we started looking at all these really systemic issues, you know, homelessness , uh, food insecurity, sort of the entire gamut of, of different , uh, causes.
And the one thing that we kept on finding specifically with younger people. You know, kids are really stressed out and it's, it's affecting different facets of their lives. And so, um, we started to team up with the greater good science center to identify , um, what's, what's called the six sustainable happiness skills and these skills , uh, sort of allow you to hack your happiness.
And there's tons of academic research that shows that happier people live healthier, longer lives. They do better in school, in life. Um, you know, sort of across the board. We've seen schools that incorporate happiness studies into their curriculum have a dramatic drop in bullying, absenteeism, discipline issues, and then an uptick as well.
And student engagement, optimism, and test scores, you know, sort of across the board.
Narrator: As we all know, the mental health crisis is on the forefront of a lot of our minds. LG had found what they could commit to in an authentic way.
Laura: in June of 2020, the CDC released data saying that 63% of young adults report symptoms of anxiety, depression, or both , um, what we've found as well is that more than half of American teens are stressed. And when school's in session, teens are the most stressed out group in the country. Um, you know, 18 to 24 year olds report, the highest levels of anxiety and depression.
I mean, obviously, especially during the pandemic, it's really , um, I think becomes so much more important that we talk about, you know, this mental health crisis. It really was a crisis before the pandemic.
And now, you know, we've sort of been on the precipice of hanging off this cliff for a while. And I think if nothing else, the pandemic. Showed us, how important talking about mental health is and how, you know, we really need to kind of centralize that a lot more in our conversations because , um, it is really crucial to everything that we do and, and can really be a foundation for, for becoming, you know, not only a good student or a good partner , but, but also, you know, a great employee, you know, I've seen a lot of studies as well that shows the benefits of happiness skills on.
Professional development and workplace readiness. So, so there is a lot of benefits to this. I mean, again, I think students across the globe would, would probably argue that they're more stressed out than they've ever been. And again, a year and a half in isolation, you know, it has not helped that at all. I mean, the, the really positive thing though, is.
You know, millennials and gen Z, you know, we are more comfortable than our previous generations talking about mental health. So there is an element of it being destigmatized, you know, you see all over social media people sort of talking about their struggles with mental health. And so it's not as taboo as it used to be.
So that is the sort of the one thing , um, working, working in a positive way , um, for sort of these teens, to be able to access the resources they need without feeling uncomfortable about it.
Narrator: It’s fair to say that there is a large need for LG’s Experience Happiness Project. And since mental health is such a sensitive topic, LG needs to be very deliberate in how they go about things.
Laura: what it looks like from a user experience from, from teens across the country that are receiving this help is it could be , um, a teacher is accessing this on discovery or Happy's website, which is the discussion. Uh, arm of this discovery education's arm of this program. And essentially they might be looking for something that meets their standards, aligned curriculum , um, for let's say, seventh graders.
And so they can go onto the site. They can pull , um, you know, these different activities and virtual field trips and sort of. Um, ways to frame lesson plans and then be able to actually practice that or to teach that to the students. So that's sort of, um, it's not necessarily that the students are getting something that's packaged up for them to, you know, take home , but, but it's more, you know, learning by proxy through, through the teachers for the most part or interacting with the, in our Explorer app, which will, you know, just help students sort of reset.
And , um, you know, we've seen. Did a couple of key studies within our explore that saw, you know, three times the average increase in the number of students who met or exceeded expectations , um, after they were sort of doing this mindfulness study because, or mindfulness practice, because it really just like allowed them to have a time out, you know, take some time for themselves, which, you know, I think a lot of kids would argue.
They don't necessarily get as much.
Narrator: LG has clearly zeroed in on their process. They’ve figured out the demographic they wanted to serve, the need that has to be met, and how they could help. So we asked Laura how they got there.
Laura: having worked on the CSR side of the house, you know, obviously. It's meant to engage consumers. I think there's some statistics it's like 83% of millennials will buy something. If the company supports a cause that they feel , uh, attached to or connected to in some way.
So, so, you know, oftentimes it is a way to have a conversation with the consumer and let them know like, Hey, our values align with your values. And so from that perspective, I think it's, it's so important. I think you. Increasingly we're seeing so many employees will not work for companies. If there's not an element of CSR, if there's not an element of volunteerism, if there's not matching gifts, I mean, these are crucial benefits that millennials are looking for as they, you know, are seeking out new positions and we're stepping into the workplace for the first time.
And so I think always keeping that top of mind is, is crucial. Um, any company , I, I really truly believe that you're at a detriment as a corporation. If you don't , um, put your money behind something in a really authentic, incredible way, you know, that was sort of LGS entire foundation for this program.
We've re we didn't talk about this program publicly until we've reached 1 million students. So that's how sort of cautious , um, we were that we wanted to build this in a way that wasn't just. You know, gimmicky, Hey, we're doing this just because we want consumers to see that we're doing this, which I've also worked for corporations that do that.
I mean, sometimes it's just about throwing money at stuff and, and, you know, hoping that , uh, your consumers are going to be taken , taken by it, you know, and there's no real meat on the bones of, of what the initiative supports or does. And you know, so I think working , um, in this space is so important, but also working in this space.
Actually moving the needle and it's not just words on paper is even more important.
Narrator: Hopefully, you have an idea in the back of your head about a project that could be fun. One that you’re passionate about, and authentically interested in. The reason George Peabody’s legacy lives on is because he donated to causes he believed in, got in on the ground floor, and went to work. We need to be committed to do the same. Let’s find out how.
Laura: I think leaders definitely need to be what they can do to incorporate this as star talking about it. I mean, you, you often see big corporations that have, you know, resource groups, but, and so maybe they're talking about mental health and wellbeing.
You know, oftentimes it's a little bit siloed. And I think that in order for this type of work to really take center stage, it has to be sort of the lifeblood of the company. And it has to, everything has to flow from that. And so I think that that's what Allstate has done a really good job of , um, increasingly, probably in the last 18 months, you know, there has been more players that have come to the table , um, in terms of just understanding the importance of.
Supporting mental health initiatives. Um, you know, but, but Allstate is really the one that was in the space pre pandemic alongside us. And so I, I think, you know, in order for leaders to be able to authentically incorporate this in a meaningful way, they really have to be deliberate about it. They have to incorporate it, you know, throughout everything.
Otherwise, you know, again, Employees, aren't dumb consumers. Aren't dumb. They will notice right away if something just is to check a box. And so, you know, if you are a leader and you really want to be serious about, you know, making sure your employees have access to mental health resources, or, you know, social, emotional learning resources, you know, you have to do it in a way that it's integrated throughout the company and throughout the brand.
Otherwise. It's probably going to fall flat and it's not going to be received well. And I think LG has done a really good job of, of making this priority, not just, you know, with , uh, teens that we're trying to reach in the areas that we serve, but also, you know, with our employees,
Narrator: George Peabody's legacy lives on because of how dedicated he was to philanthropy while he was alive. His actions were authentically tied to his beliefs, and he changed millions of lives because of it.
So for your homework for next time, try to think of a way your organization could authentically align with something you’re passionate about.
Talk to the customers you service. Listen to the communities you work in. Think back to how you got involved in business in the first place.
And brainstorm what you could change, because chances are, you can.
This is your host, Ian Faison, CEO of Caspian Studios. Thank you for listening to another episode of Often Imitated. If you like what you’re hearing, tell a friend or leave us a five star rating and review on Apple Podcasts. This podcast was narrated by me, Ian Faison and produced by Mackey Wilson, Ezra Bakker Trupiano, and Ben Wilson. You can learn more about our team at CaspianStudios.com
This podcast is brought to you by the generous support of our friends at Oracle. Make every interaction matter with Oracle Advertising and CX. Connect all your data and empower your entire business to deliver exceptional customer experiences from acquisition…to retention…and everything in between. Learn more at oracle.com/cx.