Mindfulness as raising awareness on the present moment non-judgmentally. It is about paying full attention(firing all cylinders) on an object in one's working memory. Since you do it non-judgementally, without an urgency to rush through (that is very much time insensitive manner), your mind is calm and relaxed (all senses, thoughts, emotions/feelings, actions/behaviours etc. are in harmony/synchrony), possibly helping to form new neural networks of knowledge, forming as many connections as possible in a coherent, meaningful manner. That is, one is able to identify new relationships with a flexible/open mind (being creative and insightful without being hampered by stereotypes) among pieces of knowledge held in working memory. Consequently, it should help creating lasting (long-term) memories. Further, a characterising ability of mindfulness practices is the development of self-awareness or self-knowledge. With this self-knowledge, one not only understands oneself better but also, using it as a reference, he/she tends to understand others better (possible more empathically.
An interesting development at GOOGLE. It has a program called GOOGLE Talks on Emotional Intelligence/Healthy Minds/Empathy/Compassion/Personal Growth/Optimal Performance/Productivity etc. (The tech giant invites leading researchers in related areas to talk to their employees to direct them to personal growth leading to productivity)
Jon Kabat-Zinn (Professor of Medicine who introduced mindfulness practices to mainstream medicine) on "Mindfulness Meditation"
https://www.youtube.com/watch?v=3nwwKbM_vJc
https://www.youtube.com/watch?v=3nwwKbM_vJc