How interesting is this! The impact of trust on your business and on your employees is almost palpable. In an independent study, it was concluded that individuals working in workplace/ cultures with a higher degree of trust exhibited the following:
· Close to 62% of these employees enjoyed their jobs more than any other group of people working across industries
· More than 70% of these employees were highly aligned with the general goals and purposes of the company
· A 40% less burnout rate as compared to their contemporaries in the same industry
How does these statistics impact India’s CEO culture, where people holding positions in the top tier of the managerial hierarchy are not known to be willing to mingle with their employees? Well, the simple answer is, those who actually step down the "pedestal" and empathize with their team members and employees become a trendsetter not only in their industry but beyond. Even Satya Nadella, CEO Of Microsoft says, "I think of empathy not just as something nice to have but is core to the innovation agenda in the company." The formidable force that Microsoft is, today, would have remained a dream if Satya hadn't realized the importance of empathy at the workplace and giving due credit and consideration to each one of his team members. Sharing his famous email written to employees while the world was battling Coronavirus:
Talking about Arvind Krishna, CEO Of IBM Group - the one thing that his associates and employees say about him is that he can win anybody over in a matter of minutes. He is one of those professionals in the country who have successfully championed the art of leading numerous teams with his superb communications skills and empathetic approach to achieve a unified goal and have taken their companies to unmatched heights. Do you know why everyone follows his lead? It is because of his flawless record of bold transformations that have resulted in profitable outcomes for all his associates. His colleagues at International Business Machines describe him as a person who is driven by his values and genuinely authentic. No wonder, everyone sides with him.
Ajay Pal Singh Banga, CEO Of Master Card believes workplace that aspires to be less intensive and way more on the side of “friendly”, empathy is the key ingredient over there. “I am actually very easy going, I encourage my colleagues to say things to me that they would never have had a chance to say to most bosses.”
Not just these famous CEOs, but every successful business leader has built a productive and united team; thanks to empathy and care. So, what best practices a CEO should follow to build a strong sense of trust between the senior leadership and the employees?
· Recognize Excellence And The Right Skills
Success comes with team work, and so every employee is important. It is your responsibility to identify their effort and give them due credit for their performance. Public recognition works even better than monetary compensation.
· Communicate More Often
You have to be frequent and more thorough with your communication with your employees. Be vocal about your thoughts because your employees are straining their ears trying to listen to what you think and feel about the company and any particular project in question. Workforce engagement is what you get out of it.
· Letting Them Voice Their Opinion
When we talk about Effective communication, we talk about it both ways. Communication is a two-way street, and letting your employees voice their opinions without any hesitation will give them enough freedom at the workplace. This is going to be one of their most concrete steps towards realizing their full potential.
· Personal Growth Is the Key
It is upon you as the CEO to constantly encourage personal growth among your employees. Give them a challenge to overcome. Give them a hurdle to cross. Give them a puzzle to solve. Let them know that you are with them through thick and thin. Let them rely on you. Let them approach their own personalities from multiple dimensions to grow not just as a performer but as a human being.
An emotionally available and connected CEO ensures the employees that he or she is there to help them grow and build an organization that is unparalleled by anyone in the industry. Because Empathy is a strength that everyone feels, but only a few can turn it into a force of change!