In 2016 John Stumpf, then the CEO of Wells Fargo, was called before Congress to explain a massive scandal. For more than four hours, Stumpf fielded a range of questions about why the bank, which had over $1.8 trillion in assets, had created 2 million false accounts, and, after the fraud was discovered, fired 5,300 employees as a way of redirecting the blame. The recordings of the hearing are a shocking but illustrative case study of how leaders are at risk of being corrupted by power.
Power Can Corrupt Leaders. Compassion Can Save Them
Leaders are at risk of being corrupted by power. It’s not that power makes people want to be less empathetic; it’s that taking on greater responsibilities and pressure can rewire our brains, and, through no fault of our own, force us to stop caring about other people as much as we used to. But it does not have to be this way. Such rewiring can be avoided—and it can also be reversed. Compassion is the key. While empathy is the tendency to feel others’ emotions and take them on as if you were feeling them as well, compassion is the intent to contribute to the happiness and well-being of others. Compassion, therefore, is more proactive, which means that we can consciously make a habit of it. And, by doing so, we can counter the loss of empathy that results from holding power, and in turn enable better leadership and human connections at work. The authors offer practical ways of enhancing your compassion.