Learn to adapt to new generational needs
In the business world, compassion can sometimes end up taking a backseat compared to meeting targets, cutting budgets, and lowering costs — but does that mindset still work in this day and age? As we enter this new age, where business strategy is steadily changing, businesses are going to have to accept the fact things don’t work the same as they used to. To survive, they are going to need to learn to adapt to the latest generations’ values. This includes compassionate leadership in business.
We are entering an age where more than 50% of the workforce is either Millenials or Generation Z. They have unique views of what employers should provide. To be successful in this new age of business, it’s going to take a new breed of leaders that are willing to take a fresh look at the needs of their employees — needs like compassion, personal growth, and community engagement.
“As we look ahead into the 21st century, leaders will be those who empower others.” — Bill Gates
Compassion
I’ve seen and experienced the type of culture that develops in businesses that don’t make kindness a priority. Turnover rate spikes, training becomes a never-ending cycle, and employee morale plummets. You find yourself in a constant state of worry as you try to put out fire after fire.
Early in my managerial path, I learned bad habits from companies that trained me to believe this was all normal. After many mistakes, I’ve sloughed off these harmful practices and found the positive effect of compassionate leadership.
What is compassionate leadership? Compassionate leadership, according to Meysam Poorkavoos’s research, includes personal connection, empathy for colleagues, active listening, approachability, integrity and honesty, respect, consistency, and work-life balance. These types of practices have been shown to strengthen the bond between coworkers and their leaders.
Leaders who show compassion also find their employees reciprocating kindness. There is a positive feedback loop which results in more connectedness and engagement from everyone.
Compassionate leadership has been shown to increase an employee’s emotional attachment to a company (Lilius et al., 2008). Compassionate leadership can have many positive effects in the day to day, as well and contribute to more long-term employment.
As an employee feels more connection and trust in the company they work for, they vigilantly work at their highest level. Their link to the company leads to longer retention. These are just the tip of the iceberg in regards to the positive effects of compassion to a business’ bottom line.
Personal growth
One of the most significant aspects determining whether an employee will stay with a company or not depends on the value they feel they get out of their job, monetarily and personally. If a company doesn’t focus on the personal growth of its employees, it will have to deal with problems like burnout and lower productivity. Boredom and stagnation hare reported as significant reasons for this new age of workers to leave a job, according to Naz Beheshti. She covers the struggles of leading Millennials and Generation Z employees in her Forbes article, found here.
Supporting an employee’s growth reaffirms their importance in the company. This support reminds them they are more than just a cog in the wheel. Knowing that leads them to find value in their position. When leaders give their employees the tools needed to advance with the company, employee focus and engagement increases. Nurturing their personal growth is as important as making sure they are appropriately financially compensated for the work they do.
Community and social engagement
Today, business owners like Bill and Melinda Gates are pioneering a new understanding of how businesses can be more giving. Employees find more connection to the company they work for when that business is engaged in their community. Businesses that regularly find ways to benefit their community instill a sense of pride in this new breed of employees. Being able to support a company’s charitable achievements leads to higher retention and a deeper connection between employees and their employers. These employees are extremely loyal to these businesses.
Compassion is the key to the future of business
Whether it is in the form of personal connection between coworkers, a leader’s ability to engage and progress an employee’s career, or through community engagement, compassion in the business realm has become a mandatory aspect of business culture. As the number of Millennials and Generation Z employees reaches closer to 75% of the total workforce, businesses need to be aware of their changing mentality toward employment. A career is no longer as good as the salary one makes.
Successfully running a business takes more effort on the part of the leaders. It takes a more compassionate culture and more community involvement. Times are changing, and they are changing because the new generations won’t tolerate the selfish business culture of our past. Businesses must learn to be more human to survive in the future — and it begins with compassion.
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A version of this post was previously published on GoFindYourHappy and is republished here with permission from the author.
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