ESG: Empathy, Service & Gratitude

As the pandemic rages through the world, I believe it is time for corporates to view their ESG responsibilities from a more humane lens. While Environment, Social and Governance are a must, we should imbibe a new definition of ESG – Empathy, Service & Gratitude in every company's culture during and post COVID-19.

Encouraging a culture of Empathy

The pandemic has made human beings more vulnerable than ever before, irrespective of status, wealth or citizenship. Everyone is facing some form of hardship – be it an economic situation due to a job or (small) business loss or losing a loved one to tremendous work pressure (for example, healthcare and frontline workers). Our lives have become more challenging. Besides the above, even staying indoors comes with the continuous fear of contracting the disease from somebody, which has led to various mental worries.

Hence, we should build a culture of Empathy in every organisation and our everyday work environment. None of us is fully aware of the challenges another person is experiencing. A sense of appreciating the other person's state of physical and mental well-being is of utmost need. Simple things like not being too harsh on employees and guiding them when they make mistakes go a long way in building employee confidence – not only for the boss but for the entire organisation. Even in the cases of job losses, a fair separation package and in case of death, generous benefits, some for lifetime, extended to the kin are beautiful examples of empathy in action.

Research has proven that organisations that encourage employees to make mistakes or help correct them, instead of blaming or penalising, demonstrate an entrepreneurial culture that results in higher growth and profitably in the long term.

Developing a mindset of Service

Similarly, organisations should imbibe a sense of Service alongside sales. COVID-19 has proven that the entire world lives on unpredictability, and life is insecure. The purpose of helping others, especially the needy and underprivileged, should become a key corporate goal. During the pandemic, we have seen how corporates have focused on helping the needy – be it with medical aid, health kits or offering free vaccination to their entire ecosystem of workers, vendors and communities.

The scale of the pandemic is unprecedented, and no single entity, be it the government or medical fraternity, alone can address the crisis. During these times, a service-led (seva-bhav) approach will go a long way in helping an organisation create a (customer) service-oriented mindset. Going the extra mile to find a solution to every problem is something every company aspires to – good deeds done in today's time will benefit the organisation in the long term.

Growing with an attitude of Gratitude

?Last, if all of us have come to live on the other side of the pandemic, it is because of sheer blessings and good fortune. None of us should be under the illusion that we are alive today because we are careful or doing things the right way. A sense of Gratitude and thankfulness to everybody around and above us is an excellent practice. Organisations often get carried away in commercial successes and forget to build an environment where everybody's contribution is acknowledged even if it doesn't get measured in the excel sheets.

Studies have shown that individuals with a sense of gratitude display a higher Emotional Quotient (EQ). It helps solve critical crises better and improves day-to-day working. An attitude of gratitude creates a positive work environment and appreciating others increase employee engagement. Organisations can benefit by having a work environment filled with gratitude that in turn helps address attrition.

The pandemic is a clear warning sign to us that ESG parameters should become a priority for organisations. Recurring lockdowns and limited human activity have helped Environmental assets worldwide breathe and repair themselves – from the sea and air to forests and animal life. COVID-19 has also shown that Social responsibility is critical as the rich and poor are equally vulnerable to the disease.

Hence, a sense of community-led benefits and overall growth should be a key focus. The healthcare scare brought operations of countries to a halt globally. Companies with impeccable Governance measures with robust boards and leadership teams were able to survive with a sense of ethics, responsibility and transparent actions.

Empathy, Service and Gratitude have long been a part of ESG though never articulated. Today, it is a wonderful opportunity for corporate leaders to revisit these basic human tenets for professional well-being and success.

Let’s stay safe, healthy and be kind to each other.