Compassionate capitalism is a concept that challenges the traditional notion of profit above all else in the business world. It is about prioritizing the well-being of employees and the community while still striving for financial success. This approach to business, and its power to transform lives, is championed by Tom Vozzo, author of The Homeboy Way: A Radical Approach to Business and Life, and CEO of Homeboy Industries - a nonprofit re-entry program based in Los Angeles that helps former prison inmates and gang members reset their lives and become contributing members of society.
On SoCal Voices Podcast, Vozzo shares how practicing compassionate capitalism can make a positive impact on individuals and communities. After experiencing the cutthroat nature of corporate layoffs during the 2008 recession, Vozzo says he realized that there had to be a better way to run businesses. He saw firsthand how shareholder value was often prioritized over the well-being of employees, leading to layoffs and long-term consequences for those affected.
At Homeboy Industries, Vozzo has implemented principles to create a supportive and inclusive work environment for individuals who may have been overlooked in traditional corporate settings. His leadership style, which he describes as "The Homeboy Way," emphasizes the importance of treating employees as equals and prioritizing their well-being alongside financial success. This approach has benefited the individuals served by Homeboy Industries and positively impacted the community. By investing in the personal and professional growth of its employees, Homeboy Industries has created a positive and empowering environment that fosters transformation and success.
Listen to the episode on socalvoices.com or your favorite podcast player, and be inspired by Tom Vozzo’s unique approach to leadership.
