What we found is that empathy matters, and not only within the four walls of your office building. Empathy is good for business across the board.
For example, we found that 42 percent of people are more likely to buy products from an organization that demonstrates empathy and 40 percent would recommend the organization to a friend. Conversely, 42 percent of people are more likely to refuse to buy products from an organization that is not empathetic.
Another organization interested in learning about workplace empathy, London-based consultancy, Lady Geek, ranked perceived level of empathy at 160 companies. They found that the top 10 companies saw average earnings rise six percent in 2016, while those at the bottom of the list saw average earnings drop by nine percent.
The real question is, though, how do organizations build a culture of empathy that translates to consumers and impacts bottom line? The answer is that it has to start from within.
I recently spoke with Ignites, an online news service of Financial Times, about empathy. A primary focus of our conversation was how important it is to create a culture of empathy within the workplace itself. A company’s employees are its most valuable asset. If they don’t view the organization as empathetic, your business will never be able to develop a lasting and meaningful culture of empathy that shines through to the public.
Check out the article on Ignites to learn more about how empathy drives corporate success, and visit businessolver.com/empathy to read the full findings of our study. You can also join the empathy conversation on social media by using #EmpathyAtWork.