Watch video: An introduction to the #EconomicsOfKindness.

"We define kindness as being honest, saying the hard truths and tackling the tough challenges head-on in order to create lasting, positive change, and better results."

What is kindness in business?

We believe that you create lasting impacts when you put people—customers, employees, investors, suppliers, and society—first.

What is kindness in business?

We believe that you create lasting impacts when you put people—customers, employees, investors, suppliers, and society—first.

Putting people first means being kind—ensuring everyone has a voice, being honest with customers and colleagues, saying the hard truths and tackling the tough challenges head on. That’s not the same as being nice, where you might avoid saying what you really think. Kindness is often the more difficult choice.
 
Being kind in business is a way to behave that creates better results. That’s because it helps build the trust needed at every stage to ensure the right things are done that create the positive impacts that last. 

How does a business demonstrate kindness?

Businesses can demonstrate kindness to their employees, their customers, and the community.

How does a business demonstrate kindness?

Businesses can demonstrate kindness to their employees, their customers, and the community.

  • Employees. Businesses demonstrate kindness through values and culture, leadership behaviours and training, on-boarding and expectations-setting, appraisals and communications. 
  • Customers. Businesses demonstrate kindness through mentoring and coaching, training and upskilling, inclusivity, and corporate social responsibility.
  • Community. Businesses demonstrate kindness through corporate volunteering, funding, charity placements, work placements, and charity and strategic partnerships.

How can kindness help in business?

Kindness in business pays because it builds trust, productivity, employee retention, resilience, profitability, and brand loyalty.

How can kindness help in business?

Kindness in business pays because it builds trust, productivity, employee retention, resilience, profitability, and brand loyalty.

  • Trust. Being kind means having the honest conversations with each other and this builds trust because there are no hidden agendas.
  • Productivity. When people feel trusted, they are more likely to work better together and harder to achieve the same goal.
  • Employee retention. Trusted people, working together as one, respected and valued for their views, creates happy people and teams who tend not to move companies. The average employee turnover rate in the UK is 16.4% and higher for management consultancies. Baringa’s attrition rate has never exceeded 10% in the last 5 years. 
  • Resilience. Teams that have honest conversations and who trust each other tend to be more resilient in times of difficulties.
  • Profitability. Baringa’s research found that there is a powerful and legitimate correlation between businesses perceived to be kind and those with high EBITDA growth. 
  • Brand loyalty. Consumers vote with their wallets by choosing what they buy and who they spend with.  Baringa’s research found that 61% of consumers have refused to buy a product or service in the last two years because they felt a company was unkind. 

Read the introduction to our series on kindness and how it can help in businesses.

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