WHAT THE DATA SAY: 54% uncomfortable talking politics at work

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

BILLIONAIRES = BAD, AMERICANS SAY

Americans are falling out of love with billionaires as the demand to address inequality grows, according to our latest Harris Poll research in Fortune.

• 59% of Americans believe that billionaires are creating a more unfair society.
• 71% deem wealth inequality a severe national issue – up 5 points from 2022.
• 58% blame billionaires for accelerating inflation.
• 62% believe “America has become a backyard for rich people.”
• While 46% don’t believe in limiting wealth, 69% suggest taxing the rich – with 80% of Gen Z in favor.

EMPLOYEES VOTE POLITICS OUT OF THE WORKPLACE

A CEO’s politics is a deal-breaker for Gen Z and Millennial employees, based on our Harris Poll research with Indeed.

• 54% are uncomfortable when politics come up in workplace discussions.
• 40% of Gen Z and Millennial workers would leave their company if its CEO expressed political views with which they disagree.
• Nearly 40% of workers in the same age range also would leave their jobs due to political differences in the workplace.
• 35% admit to openly discussing politics in their workplace.
• 44% have overheard colleagues discussing politics at work.
• 34% say politics in the workplace has negatively affected team morale.
• 16% admit to avoiding colleagues who had different political views from them.
• 39% have felt pressure to conform to certain political views at work.
• 39% have been discriminated against or harassed at work for their political views.
• Even 16% who work remotely have seen signs of a colleague’s political affiliation during a videoconference, such as mugs featuring a political party logo or a campaign sticker for a candidate.

RENTING IS RISING

The trend of under-consumption is making renting more popular for everything from clothes and furniture to cars and sporting equipment, according to our Harris Poll research with Credit Karma.

• 28% of Americans rent or lease goods/services, including a car (17%), clothing/accessories (9%), electronics (8%) and furniture (7%).
• When factoring in housing, the percentage of American renters/leasers is now at 47%.
• 58% of those who rent or lease goods/services do so as a personal choice.
• What’s driving the decision to rent/lease? Top reasons include: flexibility that renting allows (35%); being better able to save money (31%); wanting to try things out first before deciding whether to make a purchase (27%); and avoiding overconsumption (21%).
• 58% who rent/lease goods or services say they find more value in renting than buying.
• 64% do not subscribe to the notion that renting translates to throwing away money.

SPORTS COACHES ARE KEY TO YOUTH CHARACTER

Nearly all parents (93%) agree that kids can learn important life skills from playing sports, yet four out of five parents also believe there is a shortage of high-caliber coaches today, based on our Harris Poll survey with youth development organization First Tee.

• 89% of parents feel character is a lost value that should be more emphasized in today’s society – 4 points higher than last year.
• 93% of parents believe children learn important life skills from playing sports.
• Parents believe coaches are essential to youth development, including teaching kids character, self-confidence, determination and leadership.
• 83% wish their child had more access to well-trained coaches.
• 94% of parents prefer coaches who have been background-checked.
• 74% of parents say their kids are involved in extracurricular activities, on par with last year.

ICYMI

In case you missed it, check out the thought-leadership and happenings around Stagwell making news:

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• Walmart’s new private label brand has done more than spur spending among Millennials
• Axios Vibes: Dems close enthusiasm gap among Latinos
• Stagwell’s Code and Theory, Colle McVoy Lead Digital and Brand Relaunch of The Minnesota Star Tribune