You might assume that keeping employees happy would require more money or time off. And while both those things are certainly appreciated, employee happiness is a bit more complex. Employers are starting to recognize that keeping their employees happy and fulfilled at work means getting a little creative.
The wellbeing and happiness of employees can affect their productivity, and therefore their overall enthusiasm regarding their work. Employers might be interested to learn that the Department of Economics at the University of Warwick found happy workers to be 12% more productive than the average worker, while unhappy employees are 10% less productive.
The book Getting Engaged: The New Workplace Loyalty, explains that an employee who is actively engaged cares about their jobs, the company, and daily performance. For an engaged employee, it’s about much more than just a paycheck and benefits. These are the people who will put in extra effort without being asked and will ensure their work is done well.
To create true employee happiness that will impact productivity, engagement, and profit, you have to look a bit outside the standard box of employee benefits. No one will turn up their nose at a pay raise, but money can only go so far when creating a lasting change.
So what are some of the tried and true ways to accomplish this task? Here are a few ideas:
Other popular engagement tools are allowing pets in the office, (within reason), providing full or prorated gym memberships, and free food in the office.
The long term results of unhappy and disengaged employees will lead to negative attitudes and low productivity – both of which can affect your bottom line. Studies have shown that low-level engagement will result in a 33% decrease in operating income and an 11% decrease in growth. However, on the flip side, companies with high-level engagement have a 19% increase in income and a 28% increase in earnings growth.
A company can stand out from their competition by utilizing their greatest asset: their employees. It has been made clear that satisfied employees create satisfied customers, who then spend more money with your company and spread great word-of-mouth reviews. Money can’t necessarily buy you happiness, but happiness seems to be the link to monetary growth.