THE PROFIT-PURPOSE NEXUS

Sanjeewaka Kulathunga explains the rudiments of spirituality in leadership

In a world of cutthroat competition, rapid technological advancements and the relentless pursuit of profit, the concept of spirituality may seem out of place in the context of business leadership.

However, a growing number of leaders are recognising the profound impact that spirituality can have on their roles and organisations. Spirituality in corporate leadership is not about religious doctrine but rather, a set of values and principles that can foster personal growth, ethical decision making, and positive outcomes for enterprises and society at large.

Spirituality in business leadership goes beyond any specific religious beliefs. It is more about a deep understanding of oneself, one’s values and the interconnectedness of life. Spiritual values in business leadership tend to prioritise principles such as empathy, mindfulness, purpose and ethics.

They seek a balance between profit and purpose, and value the wellbeing of employees, custo­mers, stakeholders and society as a whole.

Applying spiritual values can be transformative for businesses; they can help create a more sustainable and socially responsible corporate culture.

For example, the founder of Bridgewater Associates Raymond Dalio has been a vocal advocate for embracing spirituality in leadership.

He promotes the idea of ‘radical transparency’ within his organisation, where open and honest communication fosters an environment of trust and personal growth. Dalio’s book titled ‘Principles’ outlines his spiritual approach to leadership, which emphasises self-awareness and personal transformation as essential tools for success.

At the core of spiritual values in business is ethical leadership: leaders who incorporate spiritual values prioritise integrity, honesty and accountability. They make decisions that benefit not only the organisation but society and the environment too. Spiritual values encourage leaders to align their actions with their core values.

The Enron scandal serves as a poignant reminder of the consequences of unethical leadership, which damaged the lives of countless employees and investors.

In a highly competitive business environment, compassion and empathy can sometimes be overlooked. Yet, these qualities are crucial for creating a positive workplace culture. Leaders who embrace spiritual values demonstrate a genuine concern for the wellbeing of their employees.

Under the leadership of Marc Benioff, Salesforce actively promotes mindfulness and empathy to foster a culture of care and support.

The application of mindfulness practices in business has gained momentum. Meditation and deep breathing can help leaders stay present in the moment, reduce stress and make more conscious decisions. These practices also promote emotional intelligence, which is crucial in leadership.

Leaders such as Larry Page and Sundar Pichai have integrated meditation and mindfulness into their work culture. This not only enhances employee wellbeing but also improves productivity and creativity, which ultimately benefits the organisation’s bottom line.

Environmental stewardship rooted in certain spiritual traditions encourages businesses to adopt eco-friendly practices. Spiritually oriented leaders recognise the interconnectedness of all life and the importance of responsible utilisation of natural resources. They lead their companies to be environmentally and socially responsible, and contribute positively to both the community and the world.

Spiritual values emphasise the importance of unity and equality. Leaders who embody these values actively promote diversity and inclusivity. The CEO of Microsoft Satya Nadella has been committed to fostering diversity within the organisation, and this has led to a more inclusive corporate culture and stronger workforce.

Corporate executives who are ready to apply spiritual values encourage their teams to engage in ethical reflection when faced with complex dilemmas. This process helps workers make principled choices and reinforces the importance of ethical responsibility in the workplace.

In the increasingly sophisticated business environment of the 21st century, embracing spiritual values is both a moral and strategic choice. Incorporating spiritual values into busi­ness practices leads to ethical leadership, compassionate decision making and a greater focus on holistic wellbeing.

This approach benefits employees and society; it can also result in increased employee satisfaction, customer loyalty and business success. It reminds us that business is not simply about profit – and that is includes fostering a sustainable and harmonious world for all.

By applying spiritual values in business, leaders and organisations can have a profound impact on their communities.