Is There a Place For Spirituality in Business?

Running a successful business demands many skills and competencies from entrepreneurs and managers. In almost every sphere of commerce, competition between rival companies can be fierce as they battle for market share and to retain customers in a world where customer loyalty is fading and consumers become more price conscious.

So in this competitive and challenging environment, we ask if there is any room for spirituality when building and running a successful business.

What is spirituality?

We have to first determine what spirituality is. Traditionally, spirituality has been strongly linked to religion, however whilst still having religious connotations, the concept of spirituality now encompasses the supernatural, personal growth and “finding oneself”.

So in an attempt to improve themself, a spiritual person will often look inwards to concentrate on factors like mindfulness, calmness, inner peace and self-control. This can be achieved by practising physical, mental and breath control exercises where control of the body and thought processes can, with practise, exert beneficial effects on physical wellbeing and mental health.

Yoga, for example, is well known for its positive impacts on wellbeing. By employing breathing exercises, which illicit calmness, and physical routines which promote strength and flexibility and physiological benefits such as lower blood pressure and more efficient circulation, Yoga can yield significant benefits to its practitioners.

Spirituality and business

So if spirituality promotes better self-awareness, self-control and an overall calmness, it is likely that these attributes will have a place in the business environment.

The market for wellness products and services is huge and is growing year on year. For example, the global corporate marketplace is growing by 6.7% per year and is expected to reach $97.4 billion by 2027. An entrepreneur who practises spiritual activities will have a good understanding of the market and be well placed to find profitable niches and to take advantage of its rapid growth and size.

One of the key reasons for this focus on wellness within the corporate sector is that factors such as employee stress, obesity and poor diets can significantly impact business profitability through sickness and reduced productivity. Therefore, services such as back massages, yoga sessions and subsidised gym memberships are being offered to employees by an increasing number of corporates. Whilst they look good on a job advert, these services also promote better staff retention and a happier and healthier workforce.

An entrepreneur who recognises these opportunities and is tuned into this wellbeing marketplace with strong marketing skills and knowledge is very well placed to exploit their spiritual awareness and competence.

Spirituality and scammers

However, unfortunately, as this article intimates,, the sheer market size, opportunities and focus on health and spirituality often attracts scammers hoping to benefit from people desperate to improve their lifestyle, health and wellbeing.

The presence of scammers and charlatans in this industry means that those professionals with legitimate skills, qualifications and experience have to differentiate themselves by carefully building a good reputation with clients and establishing their legitimacy.

Becoming fit by walking

Other approaches

As we have seen, an entrepreneur who practises the various forms of spirituality will develop a raft of personal attributes that would make them highly suitable for a fulfilling role within the corporate world, either as a well-balanced employee or someone well suited to build their own business within the fast growing wellness industry.

If calmness under pressure and the ability to handle the stresses and strains of corporate life are important, then there may be other ways in which someone can find relaxation and a healthy work life balance. Spending time with nature, exercising or reading a book while trying a glass of interesting wine will take one’s mind away from the ups and downs of business and better equip the go-ahead business person for the challenges of the next working day.

So, to answer the question about there being a place for spirituality in business, there appear to be many ways in which an individual can benefit from practising spiritual activities and strive to obtain a healthy work life balance at the same time.

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