What values matter in today’s workplaces?
Employees care about honesty, as well as responsibility. And in 2018, they overwhelmingly responded with one word: empathy—the ability to understand and experience the feelings of another. The empathy revolution is here, is your business ready?
In our 2018 State of Workplace Empathy study, our third annual survey of empathy in the workplace, we found that 96% of employees rate empathy as important for companies to demonstrate—a 4% increase from 2017. What’s more, across job levels—CEOs, HR professionals, and employees—over 90% of respondents think empathy is undervalued by organizations.
Is empathy just a feel-good idea, a nice-to-have perk in a company? Quite the opposite. In fact, our study illustrates how demonstrating empathy gives businesses a significant edge in recruitment, retention, and employee engagement. Of the employees we surveyed, nine out of 10 said they were more likely to stay with an employer who empathized with their needs, and eight out of 10 would be willing to work longer hours for an empathetic employer.
In today’s tight labor market, these gains can’t be overlooked. 87% of CEOs surveyed agree that empathy improves a company’s financial performance, and all groups surveyed believe that empathy results in more productive and motivated employees. So how can companies demonstrate empathy? Our 2018 State of Workplace Empathy study reveals numerous strategies and actions for companies to improve their “EQ,” or Empathy Quotient. As we begin the conversation around empathy in the workplace, let’s look at these three takeaways:
The time for empathy is now: business leaders and employees alike understand the specific business imperatives for elevating empathy to be a core workplace value. It impacts culture, innovation, and financial performance, and in today’s marketplace and social climate, it’s what sets an organization apart from its competitors.
Want to continue the conversation? Read more about our 2018 State of Workplace Empathy study, and join us on social media with #EmpathyatWork.
Be ready for the empathy revolution and get the full results.