In 2012, the UN General Assembly declared 20 March as the International Day of Happiness to recognise the relevance of happiness and well-being as universal goals and aspirations in human lives. "Caring and Sharing", the theme of this year's International Day of Happiness, highlights the fact that lasting happiness comes from caring for each other, feeling connected, and being part of something bigger. This theme holds significant relevance for business organisations amid a paradigm shift in consumer and regulatory mindsets, with both increasingly conscious of societal well-being.

In a business context, caring refers to adopting policies that support employee well-being, while sharing involves distributing resources, knowledge, opportunities, and recognition among team members. In summary, caring and sharing nurture a workplace culture that promotes collaboration, empathy, and mutual support among employees while extending this spirit to customers and the community. This theme is not merely a moral obligation but also a strategic approach that leads to greater employee satisfaction, higher productivity, and increased customer loyalty.

Studies show that when knowledge, resources, and responsibilities are shared among employees, it fosters innovation, collaboration, and efficiency. Caring, on the other hand, builds trust, loyalty, and a sense of belonging. Organisations need to make genuine efforts to bring this theme to life.

To foster a caring culture, companies should focus on a healthy workplace, physical and mental health support, work-life balance, and flexible work arrangements. A study conducted by QC Tanner found that 25 percent of companies with the largest health promotion budgets saw an 8 percent year-on-year improvement in the proportion of employees in good or excellent health and a 16 percent year-on-year reduction in productivity loss.

Developing employees and providing opportunities for their professional growth demonstrate a strong sense of caring. Recognising employees' contributions and rewarding them helps build a motivated team that enhances productivity.

Engaging employees in volunteer activities promotes a sense of purpose and belonging. Organisations that support community service initiatives not only contribute positively to society but also foster teamwork and camaraderie among employees.

Several global organisations exemplify the "caring and sharing" theme. TOMS Shoes operates on a one-for-one model, donating a pair of shoes to a child in need for every pair sold. This philanthropic initiative is highly appreciated and has helped the company build a loyal customer base, significantly contributing to its growth.

Salesforce, through its 1-1-1 model, dedicates 1 percent of its product, 1 percent of its equity, and 1 percent of its employee time to charitable causes. This initiative not only fosters a caring culture within the organisation but also motivates employees to engage in community service, leading to higher job satisfaction and retention rates.

Caring and sharing are not merely ethical values but pivotal elements in building a resilient, innovative, and happy organisation. By nurturing a culture of collaboration, empathy, and mutual support, businesses can unlock the full potential of their workforce and create a positive impact on society. As we celebrate World Happiness Day, let us remember that true success lies in sharing our resources and caring for one another, both within and beyond the workplace.

The author is the chairman and managing director of BASF Bangladesh Limited