An Interview With Cynthia Corsetti
Builds Trust and Rapport: Empathy fosters trust and rapport with your team members by showing that you understand and care about their feelings and perspectives. When employees feel valued and understood, they are more likely to trust and respect their leaders, leading to stronger relationships and collaboration.
Empathy, the ability to understand and share the feelings of another, is increasingly recognized as a pivotal leadership trait. In an ever-evolving business landscape, leaders who exhibit genuine empathy are better equipped to connect, inspire, and drive their teams towards success. But how exactly does empathy shape leadership dynamics? How can it be harnessed to foster stronger relationships, improved decision-making, and a more inclusive work environment? As part of this series, we had the pleasure of interviewing David Price.
David Price is the CEO and Founder of The Price Group, a rapidly growing insurance agency. He achieved remarkable success in the insurance industry, becoming a millionaire within 36 months of obtaining his insurance license and earning over a million dollars per year in his fourth year as a licensed agent. Through his simple and effective system, he has empowered numerous individuals to earn substantial incomes from their homes. David firmly believes that anyone, regardless of their professional background or skill level, can obtain an insurance license and create a six-figure income through hard work. As the owner of the fastest-growing agency in the industry, he has mentored accomplished sales agents and gained a reputation as a leader in the insurance field.
Thank you so much for joining us in this interview series. Before we dive into our discussion about empathy, our readers would love to “get to know you” a bit better. Can you share with us the backstory about what brought you to your specific career path?
I have always aspired to be a business owner, inspired by my grandfather who enjoyed a prosperous lifestyle and embarked on luxurious vacations. Each visit to my grandparents’ place felt like stepping into a different realm, providing me with a glimpse of the rewarding life that comes with entrepreneurship. However, I soon realized that not all businesses are equal in their potential for success.
My first venture was a landscaping company, where I naively believed that a simple advertisement in the yellow pages would attract a flood of customers. Unfortunately, reality proved to be quite different. Instead of becoming a successful business owner, I found myself burdened with the responsibilities of an employee, lacking the autonomy and growth I had envisioned.
Undeterred by my initial setback, I ventured into the construction industry with a new company. Although I experienced greater success in this endeavor, it became apparent that the success of the business heavily relied on the commitment and reliability of the people I employed. Frequently, I encountered situations where my employees failed to show up for scheduled jobs, causing immense stress and severely limiting my personal freedom.
It was during this time that I discovered the vast financial industry, a thriving sector with a market value of 3 trillion dollars. Realizing that even a small slice of this market could lead to exceptional success, I recognized that pursuing a career in finance offered distinct advantages over landscaping or construction. Additionally, I had the opportunity to leverage a system similar to a franchise model without the burden of exorbitant upfront fees. To me, this presented an obvious and compelling choice, a no-brainer decision to embark on a path that would lead to unparalleled success.
Can you share the most interesting story that happened to you since you started your career?
Since leading my company in the insurance industry, the past five years have been incredible. My determination to overcome challenges, adapt, and learn played a vital role in my success. One standout moment was when we embraced technological advancements, reshaped our approach, and improved the customer experience. This transformation strengthened our position in the industry and inspired our team. I’m thrilled with where I am now and excited to keep leading with determination and innovation.
What do you think makes your company stand out? Can you share a story?
What makes our company stand out is our dedication to providing exceptional customer service and our commitment to innovation. We prioritize customer satisfaction by going above and beyond to meet their needs and ensure a positive experience. Additionally, we continuously strive to innovate and improve our products or services, staying ahead of the curve to provide added value to our customers. With a focus on quality, reliability, transparency, and trustworthiness, we aim to be a trusted partner for our customers, setting us apart from the competition.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
As a successful business leader, I attribute much of my achievements to three key character traits: resilience, adaptability, and empathy. Resilience has been vital in navigating challenges, allowing me to maintain focus and drive through adversity. Adaptability has enabled me to embrace change and seize opportunities in our ever-changing business landscape. Lastly, empathy has played a crucial role in building strong relationships with customers, employees, and stakeholders, fostering trust and collaboration. These traits have been instrumental in my success, guiding my decisions and actions as I lead my team toward our goals.
Leadership often entails making difficult decisions or hard choices between two apparently good paths. Can you share a story with us about a hard decision or choice you had to make as a leader? I’m curious to understand how these challenges have shaped your leadership.
One of the toughest decisions I had to make as a leader was during the pandemic when we had to decide how to adjust our business strategies. We faced the choice of either making small changes to our current approach or completely shifting our business model to adapt to the new circumstances. After careful thought and discussions with our team, I chose to pivot our business entirely. While it was a risky move, I believed it was necessary to ensure our long-term success in the post-pandemic world. This decision taught me the importance of being flexible and willing to make bold moves to navigate through challenging times.
Ok, thank you for that. Let’s now jump to the primary focus of our interview. Let’s begin with a basic definition so that all of us are on the same page. How do you define empathy in a leadership context, and why do you believe it’s a vital trait for leaders to possess in today’s work environment?
Empathy in a leadership context means being able to understand and share the feelings, perspectives, and experiences of others. It involves actively listening to team members, showing compassion, and responding with understanding and support. In today’s work environment, where diversity and inclusion are increasingly important, empathy plays a crucial role in building strong relationships and fostering a sense of belonging within teams.
Leaders who demonstrate empathy create an environment where team members feel valued, respected, and understood. This leads to higher levels of trust, collaboration, and engagement among team members, ultimately driving better performance and results. Additionally, empathy helps leaders navigate conflicts and challenges more effectively by allowing them to see situations from different viewpoints and respond with sensitivity and understanding.
In today’s rapidly changing and uncertain business landscape, empathy is essential for providing support and reassurance to team members during times of stress or uncertainty. By demonstrating empathy, leaders can help alleviate anxiety, boost morale, and foster resilience within their teams.
Empathy is a vital trait for leaders to possess in today’s work environment because it promotes understanding, collaboration, and psychological safety, ultimately leading to stronger teams, better communication, and more positive outcomes for the organization as a whole.
Can you share a personal experience where showing empathy as a leader significantly impacted a situation or relationship in your organization?
One personal experience where showing empathy as a leader significantly impacted a situation in my organization occurred during a period of significant change and uncertainty.
We were in the midst of implementing a new technology system that would streamline our processes and improve efficiency. However, the transition was met with resistance and anxiety from some team members who were concerned about their ability to adapt to the new system and feared that it would make their jobs more challenging.
Recognizing the apprehension and stress among team members, I knew that it was crucial to approach the situation with empathy and understanding. Instead of dismissing their concerns or pushing forward with the implementation without addressing their fears, I took the time to listen to their feedback, validate their feelings, and empathize with their perspective.
I organized small group meetings and one-on-one conversations with team members to hear their concerns firsthand and provide reassurance and support. I acknowledged the challenges they were facing and expressed empathy for their feelings of uncertainty and anxiety. Additionally, I provided opportunities for training and support to help alleviate their fears and build confidence in their ability to adapt to the new system.
By demonstrating empathy and actively addressing their concerns, I was able to build trust and rapport with team members and create a sense of psychological safety within the team. As a result, team members felt more supported and engaged throughout the transition process, and ultimately, the implementation of the new system was smoother and more successful.
This experience reinforced the importance of empathy in leadership and highlighted how taking the time to understand and support team members can significantly impact their morale, motivation, and ultimately, the success of the organization.
How do empathetic leaders strike a balance between understanding their team’s feelings and making tough decisions that might not be universally popular?
Empathetic leaders strike a balance by listening to their team’s feelings and concerns while also considering the bigger picture when making tough decisions. They show understanding and compassion but also explain the reasons behind their decisions clearly. This helps team members feel heard and respected even if they don’t agree with the decision. Ultimately, empathetic leaders prioritize what’s best for the team and the organization as a whole while still valuing their team’s emotions.
How would you differentiate between empathy and sympathy in leadership? Why is it important for leaders to distinguish between the two?
Empathy involves understanding and sharing others’ feelings, while sympathy is feeling sorry for someone’s misfortune. It’s important for leaders to distinguish between the two because empathy builds trust and connection, while sympathy may come across as superficial or insincere, potentially causing disconnect within the team. Leaders who practice empathy create a supportive environment where team members feel valued and understood, leading to better collaboration and performance.
What are some practical strategies or exercises that leaders can employ to cultivate and enhance their empathetic skills?
To cultivate and enhance empathetic skills, leaders can employ practical strategies such as active listening, putting themselves in others’ shoes, and asking open-ended questions to encourage communication. They can also practice empathetic body language, seek feedback, and engage in empathy mapping exercises to understand others’ perspectives better. Additionally, leaders can develop self-awareness by reflecting on their own emotions and biases. By incorporating these simple strategies into their leadership approach, leaders can build stronger relationships, improve communication, and create a more supportive work environment where team members feel valued and understood.
How can empathy help leaders navigate the complexities of leading diverse teams and ensure inclusivity?
Empathy helps leaders effectively navigate the challenges of leading diverse teams and promoting inclusivity in a straightforward manner. By genuinely understanding and appreciating the perspectives and experiences of team members from diverse backgrounds, leaders can foster trust, respect, and a sense of belonging within the team. This creates an environment where all individuals feel valued and heard, encouraging open communication and collaboration. Additionally, empathy enables leaders to address unconscious biases and stereotypes, promoting fairness and equality in their interactions. By leveraging the diverse perspectives and talents of team members, empathetic leaders can drive innovation and problem-solving, ultimately leading to stronger team performance and organizational success.
What’s your approach to ensuring that succession planning is a holistic process, and not just confined to the top layers of management? How do you communicate this philosophy through the organization?
My approach to ensuring that succession planning is holistic involves involving all levels of the organization, not just the top management. This means identifying potential future leaders at all levels and providing them with opportunities for growth and development. To communicate this philosophy throughout the organization, I emphasize the importance of nurturing talent at every level and encourage managers to identify and mentor high-potential employees within their teams. Additionally, I promote transparency and open communication about succession planning initiatives, ensuring that all employees understand the opportunities available to them for advancement and career growth. By involving employees at all levels in the succession planning process, we create a culture of inclusivity and investment in talent development, ensuring a strong pipeline of future leaders throughout the organization.
Based on your experience and research, can you please share “5 Ways Empathy Will Affect Your Leadership”?
Builds Trust and Rapport: Empathy fosters trust and rapport with your team members by showing that you understand and care about their feelings and perspectives. When employees feel valued and understood, they are more likely to trust and respect their leaders, leading to stronger relationships and collaboration.
Improves Communication: Empathetic leaders are better communicators because they actively listen to their team members, validate their feelings, and respond with understanding and compassion. By practicing empathy, leaders can create a more open and inclusive communication environment where team members feel comfortable expressing themselves and sharing their ideas and concerns.
Boosts Employee Morale and Engagement: Empathy has a positive impact on employee morale and engagement because it shows that leaders care about their well-being and are invested in their success. When employees feel supported and understood, they are more likely to be motivated, engaged, and committed to their work and the organization.
Enhances Problem-Solving and Decision-Making: Empathetic leaders are better problem solvers and decision-makers because they consider the perspectives and emotions of all stakeholders involved. By understanding the impact of their decisions on others and taking their feelings into account, empathetic leaders can make more informed and effective choices that benefit the team and the organization as a whole.
Drives Innovation and Creativity: Empathy fosters a culture of innovation and creativity because it encourages diverse perspectives and ideas. When leaders understand and appreciate the unique experiences and viewpoints of their team members, they can leverage this diversity to generate new insights, solutions, and approaches to challenges. By creating a supportive environment where all voices are heard and valued, empathetic leaders can inspire creativity and innovation within their teams.
Are there potential pitfalls or challenges associated with being an empathetic leader? How can these be addressed?
Being an empathetic leader can come with challenges that need addressing. These include the risk of emotional exhaustion from constantly absorbing others’ emotions, finding it difficult to make tough decisions without upsetting people, and potentially struggling with maintaining appropriate boundaries or showing bias towards certain individuals. To tackle these challenges, empathetic leaders should prioritize self-care to prevent burnout, balance empathy with objectivity when making decisions, establish clear boundaries with team members, and strive to be fair and consistent in their leadership approach. By being mindful of these challenges and implementing strategies to address them, empathetic leaders can effectively leverage their empathy while maintaining a healthy and supportive work environment for their team.
Off-topic, but I’m curious. As someone steering the ship, what thoughts or concerns often keep you awake at night? How do those thoughts influence your daily decision-making process?
As a leader, thoughts about the well-being of my team, the success of our projects, and the organization’s overall growth often keep me awake at night. Concerns about meeting deadlines, managing budgets, and ensuring everyone feels supported and valued can weigh heavily on my mind. These thoughts influence my daily decision-making process by guiding me to prioritize tasks, allocate resources effectively, and communicate transparently with my team. I strive to address any concerns proactively and make decisions that align with our goals and values, ultimately aiming to steer the ship in the right direction and lead my team to success.
You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
If I could inspire a movement that would bring the most amount of good to the greatest number of people, it would be centered around creating a simplified system for all. As the CEO of The Price Group, I have witnessed the power of simplicity in achieving success in the insurance industry.
My vision is to streamline processes and eliminate unnecessary complexities, making it easier for individuals to access and navigate essential services. By creating a user-friendly system that is transparent, efficient, and easy to understand, we can empower people to make informed decisions and improve their overall experience.
Through collaboration and innovation, we can develop user-centric solutions that prioritize simplicity. By leveraging technology and embracing best practices, we can transform complex systems into straightforward and accessible ones. This movement would focus on breaking down barriers and promoting inclusivity, ensuring that everyone can benefit from these simplified systems.
I believe that by simplifying systems, we can improve the lives of individuals and make a positive impact on society as a whole. Through my experience and success in the insurance industry, I am committed to driving this movement and inspiring others to embrace simplicity for the greater good.
How can our readers further follow you online?
Stay connected with my insurance content and gain valuable insights by following me on various social media platforms. I understand the importance of staying informed and engaged in the ever-evolving world of insurance. That’s why I maintain an active presence on TikTok, Facebook, Instagram, Twitter, YouTube, and even host a podcast dedicated to insurance-related topics.
On TikTok, I share bite-sized motivational videos and other insurance related content.
Facebook, Instagram, and Twitter are where I provide regular updates, share insurance news, and engage in discussions with my followers.
YouTube serves as a hub for my in-depth video content, where I dive into various insurance topics in more detail. You can find comprehensive guides, tutorials, and interviews with industry experts, offering a wealth of knowledge.
And if you prefer to listen on the go, my insurance-focused podcast is the perfect choice.
Thank you for the time you spent sharing these fantastic insights. We wish you only continued success in your great work!
About the Interviewer: Cynthia Corsetti is an esteemed executive coach with over two decades in corporate leadership and 11 years in executive coaching. Author of the upcoming book, “Dark Drivers,” she guides high-performing professionals and Fortune 500 firms to recognize and manage underlying influences affecting their leadership. Beyond individual coaching, Cynthia offers a 6-month executive transition program and partners with organizations to nurture the next wave of leadership excellence.
David Price Of The Price Group: 5 Ways Empathy Will Affect Your Leadership was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.