“Giving is not losing. It is keeping for tomorrow.” – African Proverb
As the footprints of businesses grow bigger and bigger, and their hold on how we live tightens, many are the calls for them to shift their leaning from profits to that of compassion. In the pursuit of survival and success, businesses often face the dilemma of prioritising immediate gains over long-term ethical considerations. However, their contribution to the perpetuation of consumerism has pushed the expectations of society to change – and subsequently the calls for businesses to be courageous in embracing compassion in their operations.
The contrast between what is and what could be is stark. Businesses are called on to not only witness the transformation but also be active participants in it. Incorporating compassionate practices is not an abstract concept; it is a commitment to responsible practices that benefit not only the bottom line but also society at large. It is a call for them to make ethical choices even when they appear challenging.
At the heart of a compassionate paradigm is the recognition that success need not be a zero-sum game. With the influence that businesses have over our humanity, they are the ones who can help us snap out of the ‘self-satisfied moral mediocrity’ that defines modern life, and which leaves us in a ‘seeking for meaning’ state.
There are those who might argue that prioritising compassion in business would be a luxury only affordable for well-established companies. However, most start-ups and small businesses actually have compassion in their DNA from inception. They begin with a desire to improve our humanity. As a matter of fact, many of them have found out that prioritising compassion not only contributes positively to society but also foster an environment conducive to their sustained growth.
Companies that genuinely care about the well-being of their customers and other stakeholders tend to witness higher levels of engagement and satisfaction, and their employee retention rate is considerably higher. This in turn translates to increased productivity and innovation, driving the organisation forward in a sustainable manner.
The adoption of compassionate business practices will extend beyon the confines of the workplace to encompass the broader community. For starters, corporate social responsibility will become more than a check-box on an ethical checklist. It will evolve into a commitment to dignify stakeholders and create a positive impact in communities. And the creativity needed to ensure this will generate initiatives that create more jobs and wealth.
We must not lose sight of the fact that when businesses actively engage with and contribute to their communities, they not only fulfil their societal and ethical obligations but also build a reservoir of goodwill – enhancing their brand image and fostering long-term customer loyalty.
In a world where things often look bad everywhere, the yearning for a compassionate attitude in the business realm is real. It is a call to acknowledge that ethical conduct is not only a moral obligation but also a strategic imperative. As many advocates frame it, “it is not a hindrance but a catalyst for sustainable success”. And in a world where fairness seems elusive, compassionate business practices can stand out as beacons of integrity. They will empower businesses to walk with clear sight, navigating the complex landscape guided by principles rather than blind opportunism. They indicate a commitment to fairness, transparency and social responsibility, so it’s about clearly working for a better, more equitable world.
All in all, it’s a call for all of us to become better versions of ourselves so that life becomes better and meaningful for us. It’s a call to let ethics and morality shape our decisions instead of relativism. It’s a call to elevate business practices from the mundane to the extraordinary. The time is now, and businesses are urged to bring forth that higher love in every decision, action and interaction. This is not just about swimming with the tide, it’s about leading with purpose and integrity in the business world’s grand symphony.
To achieve this, we need to change how we view the workplace. We need to turn this crucible of economic productivity into a space where employees are also active participants in nurturing the dignity of others, through personal and professional growth. Furthermore, we need to move beyond the narrow focus on profit margins to a more holistic understanding of success that integrates social, political, spiritual and environmental dimensions. In short, businesses need to engage with the community not as a mere market but as a partner in nurturing the collective well-being of our humanity. It is time for businesses recognise the interconnectedness of their customers’ holistic well-being to their own success.
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Kodwo Brumpon is a partner at Brumpon & Kobla Ltd., a forward-thinking Pan African management consultancy and social impact firm driven by data analytics and with a focus on understanding the extraordinary potential and needs of organisations and businesses, to help them cultivate synergies which catapult them into their strategic growth and certify their sustainability.
Comments, suggestions and requests for talks and training should be sent to him at kodwo@brumponand kobla.com
