New research discovers the single most powerful step business leaders can take to stop the hiring crisis and drain of 'The Great Resignation.'
42% say that their company doesn’t follow through on its promises90% say empathetic leadership leads to higher job satisfactionEmployees describe an empathetic leader as someone who is transparent and fair and follows through on actions. The top five qualities employees look for in an empathetic senior leader are:● Trusted to handle difficult conversations
“As a result of the Covid-19 pandemic, leaders are working to establish business transformation models to adapt in the new normal,” said Steve Payne, EY Americas Vice Chair of Consulting. “Our research finds that empathy is not only a nice-to-have, but the glue and accelerant for business transformation in the next era of business.
According to the survey, a lack of empathy in the workplace has caused many employees to leave their jobs, which is a possible contributor to this year’s so-called “Great Resignation.” Over half of employees have previously left a job because they didn’t feel valued by their boss, and nearly half have left a job because they didn’t feel like they belonged. The difficulty of connecting with colleagues has resulted in more than a third of employees leaving their organization.
Beyond improving employee satisfaction and decreasing turnover rates, there are tangible business benefits to prioritizing empathy in the workplace. According to the survey, benefits are plenty, since employees agree that mutual empathy between leaders and employees increases:
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