Regardless of the size of the business the benefits of having a happy workforce should not be under estimated.
Any good manager will have the happiness of their team and the individuals that make up their team at heart, and not just because they like to see people happy, it is a known fact that a people who are happy with their company and their role are far more engaged and therefore far more productive which in turn reflects well on the manager. Of course, the knock on effect of this is a more productive workforce equals an increase in profits, there really are benefits all round!
One of the most important factors when looking at an individual’s performance is job satisfaction. It stands to reason that if people are not happy in their role they will not feel motivated and therefore productivity will suffer. This may also affect the morale of the team and make other individuals less engaged and motivated resulting in an overall reduction in productivity across some whole departments or indeed a business as a whole.
So, for the sake of your team, managers and business it is important that you look at happiness!
A recent study from Ohio University MBA Programme highlighted some of the benefits of keeping your team happy and some of the rather dire consequences of an unhappy workforce.
Is your team engaged?
- Only 29% of employees surveyed were “fully engaged” with their work.
- The biggest determination for poor engagement was the attitude of managers towards their team.
What’s the damage?
- Employees who are unhappy are more inclined to steal from a business either in time or physical items. The survey suggests up to $50 billion is stolen annually by employees!
- Astoundingly 33% of business bankruptcies are due to employee theft.
So, what are the benefits of having these happy people?
- Quite simply, the happier someone is in their work, the more motivated they will feel and the more they’ll get done.
- The happiest companies are simply the fastest to grow. When every team member pulls in the same direction for the greater good, things happen, and they happen fast! Think Facebook and Google who both have a fantastic reputation for company culture – need we say more?
How can you make your workforce happy?
You’ll perhaps be surprised to hear, it’s not all about money. People value their time more than money.
- 78% of the happiest companies in the survey offered a shorter working week (or compressed week) so it appears the shift to a work life balance is finally taking shape.
- Options for child care was also listed as an important factor.
Friends at work
- We all need a friend, whether it’s to bounce ideas off, share stories, have a natter or just know someone has your back! People will office “friends” are far happier than those who feel isolated.
- You can try to facilitate the forming of friendships with lunchtime or after work social activities and team building.
- 71% of people who say they have more than 25 friends at work love their job.
So, there you have it, a whistle stop tour of happiness in a business capacity and why it is so important for the success of your business and of course, your own happiness.