With so much emphasis in the business world and leadership concentrating on the bottom line, the newly released 2016 Empathy Index demonstrates, empathy, which is about understanding our emotional impact on others and making change as a result, is more important to a successful business than it has ever been, correlating to growth, productivity, and earnings per employee.
Being seen, understood and heard is a universal need that transcends gender, race and culture. It is firmly rooted in the one thing that connects us all…being human. Whatever changes occur within government, policies and procedures, the one static is our connection as human beings and the fact that we are emotional beings at that.
Emotions have a prominent place in the science of the brain.We now know, thanks to Neuroscience, more about empathy and the emotional argument of how it can benefit relationships with those around us, educate us and safeguard well-being, than ever before. Business leaders and managers are now finding out that, thanks to studies such as the Empathy Index, the financial argument is proving positive too…….
The top 10 companies in the Global Empathy Index 2015 increased in value more than twice as much as the bottom 10, and generated 50% more earnings (defined by market capitalisation), with a correlation as high as 80% between departments with higher empathy and those with high performers.
Empathy is about self development and connecting with your own emotional experiences, both individually and organisationally, challenging thinking and striving to be, and support others to be, the best version of our/themselves possible. Ethical leadership too is benefited through empathy with a strong correlation between the two. Ethical responsibility is important in every organisation, but in health and social care, where the product…..care…is so rooted in human emotion, ethics, along with empathy for staff and patients alike and within the complaints system, is imperative. Something I know first hand.
So which companies are getting it right…
So with the financial and emotional argument being so strong for empathy in the work place….the message for leaders is clear. Connecting as one human to another, not only helps preventing harm that can be caused through a lack of empathy, but connecting with colleagues, staff and customers is beneficial to your staff retention, creativity, integrity and productivity.
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