The Secret to Higher Profits? Empathy!

In efforts to help increase the profits of a company, management find themselves busy pouring over financial statements, reviewing marketing plans, making sales projections, controlling inventory, and many other such activities.

Yet, one of the best ways to increase your profits is through a natural increase in productivity, and this can easily be done if management simply displays empathy for the employees they manage.

Empathy is the ability to understand and share the feelings of others. This is where management actually care about the opinions and well-being of the employees they manage, rather than treating them like cogs in a wheel that spit out productivity.

Now, some are going to scoff at this notion as empathy may seem like this soft “foo foo” type of activity, and it may question how this can actually increase profits.

Yet, the evidence is clear.

A 2018 State of Workplace Empathy study conducted by Business Solver had shown that 92 percent of employees would be more likely to stay with a company if they empathized with their needs with 60 percent of employees saying that they are willing to take a pay cut and 77 percent would work longer hours if they worked for a company that was more empathetic.

If a company decides to treat their employees like numbers, then it better staff the HR department well as 72 percent of those surveyed sated that they would leave their current company with 78% of those asked would make the move to another company that was seen as more empathetic.

One incredibly important aspect of this is that the empathetic feelings are genuine in nature. If employees do not believe that management is truly being empathetic, then this will bring about a lack of trust, and this is when you being to lose your employees. And when this happens, you can kiss your productivity from that employee goodbye.

Research on intuition has shown that it only takes 14 seconds for someone to establish trust with another person, so if you are genuinely empathetic, then you will get the best out of your employee. But if you are trying to force being empathetic, your employees will sense this right away.

Management can also try and use short term solutions like nice words, pampering employees with coffee or lunches as examples, but in the end, the actions and long-term behaviors are what is noticed, and this adds, or takes away from, the trust employees have with management.

So, if you really care about the success of the company, then start by caring with those who are responsible for that success, and they will make it happen.

When you take care of the inputs, the outputs take care of themselves.


About the Author

Sunil Godse

Sunil Godse

I help you take just 8 weeks to make business decisions, guided by your intuition, that eliminate your competition in under 14 seconds to catapult your business growth!

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