Enlightened Boardrooms: Why Business Leaders Need to Embrace Empathy

Key Takeaways:

• Rising levels of burnout among Indian employees call for greater emphasis on mental health in the workplace.
• Leaders must prioritize emotional well-being, which also benefits the business.
• Dr. Shyam Bhat suggests being a ‘Buddha in the boardroom’ to navigate the complex business world with spirituality.
• Trauma, while challenging, can also break barriers and lead to extraordinary success.
• Prioritizing mental well-being is as essential as business acumen, especially in unpredictable economic climates.

In a rapidly evolving business landscape, the significance of empathy and mental health in leadership cannot be overstated. Anisha Padukone, CEO of The Live Love Laugh Foundation, and Dr. Shyam Bhat, a psychiatrist and chairperson on the foundation’s board of trustees, advocate for a profound shift in how business leaders approach their roles. They emphasize that investing in mental health and adopting a sense of spirituality is no longer optional but essential for sustainable success.

Rising Burnout Levels Demand Action

India, despite being a bright spot in the global economy, faces significant challenges, especially concerning employee burnout. A recent survey across 15 countries revealed that India has the highest rates of burnout, with about 78% of employees experiencing job burnout and exhaustion. The startup ecosystem, which has created approximately 10 lakh jobs as of 2023, further underscores the need for mental health prioritization.

Anisha Padukone highlights the gravity of the situation, stating, “In a recent survey conducted among 15 countries, India reported the highest rates of burnout. So I don’t know if work-life balance is top of mind for leaders, but it definitely should be.”

Leading with Empathy

The Live Love Laugh Foundation, a mental health non-profit founded by actor Deepika Padukone following her own experience with depression, serves as a testament to the power of empathy in leadership. Anisha, leading a young and busy non-profit, shares, “Sometimes there is a notion that working in a non-profit is a break from corporate life, but emotionally it can be very draining. There is a large toss-up between identifying areas where you can work and recognizing you can’t do everything all at once.”

For Anisha, leading with empathy has been crucial. “What has worked for me — and we’re a fairly small team — is leading with a sense of empathy. That allows individuals within the organization to feel like they’re seen, heard, and cared for.” This approach not only enhances employee well-being but also drives business growth and reduces attrition.

The Business Case for Mental Health

Dr. Shyam Bhat echoes this sentiment, underscoring that addressing burnout is beneficial for the bottom line. “Even if you were doing it from the perspective of ‘I am trying to protect shareholder interest and make maximum money’, it still makes sense to spend money on mental health.” He supports this with data from the US, suggesting that spending $1 on mental health can yield businesses $8-10 in return through increased productivity and lower attrition.

Buddha in the Boardroom

Empathy and spirituality are not mere extras; they are fundamental for any leader aiming for longevity in their business. Dr. Bhat introduces the concept of being a “Buddha in the boardroom.” He explains, “Buddha means a person whose ‘buddhi’ is awakened. And my point is, in today’s world, spirituality is not something that can be postponed to when you’re older.”

Dr. Bhat’s upcoming book, ‘Buddha in the City’, delves into this phenomenon, with a chapter aptly named ‘Buddha in the Boardroom’. He argues that spirituality is essential for navigating today’s complex business world. Great leaders, he adds, are often shaped by hard times. “Data tells us when there is profound trauma, some people get devastated and some people become stars. Many stars in this world who have done great work will have a history of great suffering.”

Turning Trauma into Triumph

Both Anisha and Dr. Bhat believe that while trauma can be debilitating, it can also be a catalyst for extraordinary success. Dr. Bhat states, “The crucible of suffering breaks the constructs holding one back from achieving their highest potential.”

Anisha’s personal journey as a caregiver in her family has profoundly influenced her leadership at The Live Love Laugh Foundation. “My personal experience as a caregiver is really where the drive comes from. I was fortunate to be a part of something like this,” she shares. This intrinsic motivation has enabled her to lead the foundation with empathy and a deep sense of purpose.

In conclusion, the insights shared by Anisha Padukone and Dr. Shyam Bhat underline the critical need for empathy and mental health prioritization in today’s corporate and startup ecosystems. By embracing these values, business leaders can not only enhance employee well-being but also drive sustainable success and resilience in an unpredictable economic climate.