Enlightened boardrooms: Why business leaders need to embrace empathy

While India’s economy has been lauded as a bright spot, it has also been in and out of some dark phases. The last few years have shown that a funding winter may follow an investment spring. To prepare for any weather, company leaders must prioritise mental well-being just as much as business acumen, says Anisha Padukone. 

She heads The Live Love Laugh Foundation, a mental health non-profit organisation launched by actor Deepika Padukone following her own experience with depression. “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,” shares Anisha. 

Psychiatrist Dr Shyam Bhat, chairperson on the board of trustees at the foundation, agrees. “A startup represents the best and the worst of the capitalistic system that we live in. It captures the highs and the lows. It captures the promises, but it also has challenges, and if people don't find that balance, they can lose themselves,” he says. 

About 78% of employees in India go through job burnout, coupled with exhaustion, a study conducted by the UKG Workforce Institute found. The Indian startup ecosystem has generated about 10 lakh jobs as of 2023, based on data from the Economic Survey 2023. The big opportunity and the big responsibility involved in the corporate and startup ecosystems make it necessary for people to pay more attention to mental health. 

Leading by example

Anisha shares her example of leading a young and busy non-profit. “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 recognising you can't do everything all at once.”  

Since it is fulfilling to give help, but not practically possible to reach everyone who needs help, the foundation faces the question of mind versus heart. “What has worked for me — and we're a fairly small team — is leading with a sense of empathy. That allows individuals within the organisation to feel like they're seen, heard and cared for,” she shares. This makes business sense too — it can spur growth and reduce attrition. 

Dealing with burnout helps the bottomline, Dr Bhat echoes. “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 backs this up with data from the US that suggests spending $1 on mental health gets businesses $8-10 back by way of greater employee productivity, lower attrition, and so on. 

Buddha in the boardroom

Empathy is no longer an extra, the duo believes. It is a basic attribute for any leader seeking longevity for their business. Dr Bhat likes to call it being “a Buddha in the boardroom.” He is currently working on a book describing the phenomenon.

“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.” According to Dr Bhat, spirituality becomes an essential component for navigating the complexity of this world. That is what his book ‘Buddha in the City’—and the chapter ‘Buddha in the Boardroom’—is about. 

Great leaders are also shaped by hard times, he adds. “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.” The reason, he says, is that the crucible of suffering breaks the constructs holding one back from achieving their highest potential. 

As such, while profound trauma is crushing and scary, it can form one’s character, in Dr Bhat’s view. “That is what an entrepreneur needs, that degree of risk-taking, that degree of doing things that nobody has done before.”

That resonates with Anisha’s life. Having been a caregiver in her family, she felt intrinsically called upon to do something. Through The Live Love Foundation now, she can draw from that difficult period to help others. 

“My personal experience as a caregiver is really where the drive comes from. I was fortunate to be a part of something like this,” the CEO shares. “There is so much to be done and this organisation is uniquely placed to make a large impact, much more than what we've achieved so far."