Nordea to support ‘compassion in banking’ research

Co passion
15-09-21 10:10 | Society | Responsible business

Nordea will take part in a research project conducted by the Department of Theology at the University of Helsinki called the “Revolutionary Power of Compassion”. The project studies the effect of compassion towards the productivity and competitiveness of a company. The idea is to study how voluntary work by employees as well as the emotional skills training of managers effects satisfaction and motivation, commitment to the company, customer experiences and sales.

This is the first time a company in Finland researches the effect of compassion in business to such an extent. Nordea’s employees in the Sata-Häme region who have this fall enrolled in the Economic Skills project volunteering to teach personal finances to young people will take part in the research. At the same time, all the managers in the area will participate in emotional skills training and the effects of this will be measured with Nordea’s existing KPI’s.

Volunteering increases motivation
“The starting point of the university’s project was interesting to us and this form of cooperation fits in well with our targets. Nordea wants to be the most attractive work place in our industry to our current and potential employees. According to our own employee satisfaction survey, taking part in voluntary work has a clear positive correlation to commitment and motivation. We can’t wait to see whether we can demonstrate wider scientific proof for this with this project, the Head of Sata-Häme region”, Elina Lampinen-Kinnari, says.

Measuring the effect of emotional skills
The Sata-Häme region has been actively involved in initiating the cooperation with the University. The goal is also to develop leadership skills and improve the customer experience. According to Elina Lampinen-Kinnari taking part in this project can help in listening to customers and recognising their needs even better.

”In the project we will examine the link between the emotional skills of employees and our financial performance. This is a big difference as previously success has been measured mainly with financial indicators. One needs both very deep expertise as well as good interpersonal skills to create a great customer experience and a good financial result.

We believe that this project will provide us with new viewpoints and practical skills to improve our customer services in the changing financial services environment,” Elina Lampinen-Kinnari continues. We will follow up on the progress of the project during 2015 and 2016.

To read more about the Co-Passion project, please visit: www.copassion.fi. The website is available in English.

You can read more about the Economic Skills project in our CSR Report on page 16.

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