Happiness is something very familiar to all of us yet not all, in fact, most people still find happiness to be a mystery in life. In many cases, the lack of happiness at work also exists. According to a recent study conducted by analytics and consulting firm Great Place to Work, 60% of workers are dissatisfied at their office.
However, different studies and research also showed that happy workers outperform dissatisfied employees. As an organization, those with happy employees outperform the competition by up to 20%.
Companies such as Facebook, Netflix and Google are among the top companies with the happiest employees. These companies take innovative steps to ensure their workers are happy in their workplaces.
As a result, their companies continued to expand and remained among the top in their industries. Here are some of the impacts of happiness at work.
Better Performance and Magnet for Talent
Happiness at work stems from enjoying the job that you do and caring about other people within the organization and the customers. While statistics have shown that only less than half of all workers are happy with their job, these employees are not only happier but also healthier.
According to a study conducted by Safe Work Australia, work-related mental disorders or psychological injuries are costing companies because of the time employees need to be away from their job.
These costs reach up to 6% of the total worker’s compensation claims. Per month, employees with depression also take up to 20 times more sick days. On the other hand, happy employees take 10 times less sick days.
- They make 60% more errors and defects.
- They cause 49% more accidents
- 37% higher absenteeism
Happy employees are 12% to 20% more productive than those that are less engaged with their work. A study found that happiness has an even greater impact to salespeople. Happy salespeople achieve 37% more sales than their unhappy counterparts.
Happy employees also attract talent to the organization. This is because companies that have excellent reputation with having happy employees have greater chances in hiring workers.
36% of employees are even willing to give up as much as $5,000 of salary a year to be happier at their work.
Excellent Morale and Loyalty
More than being more productive and attracting more talent, happy employees are also loyal to their organization. According to Recruit Loop, employees that are highly engaged are 87% less likely to leave their company than unhappy employees.
Because happy employees are more resilient and are cheerful with their work, their moral is also high. According to iOpener Institute for People and Performance, these are what happy employees reported:
- They stay twice longer in their work.
- Their belief in achieving their potential is doubled.
Motivated and inspired
Happy workers are motivated and inspired. They are more engaged, get more things done and are more positive. Here are the benefits of having motivated and inspired employees:
- Positive workplace culture
- They are proactive
- More creative and innovative
- Have sense of urgency
- Care about the company’s goal
- Low turnover rates
- Positive impact on other workers
- Excellent team players
- Great problem solvers
- More productive
The impact of happiness at work is paramount to the success of the organization. To not think so is foolish and can result to failure. Now, millennials are rapidly filling up more than half of the entire workforce.
It is estimated that by the year 2025, 75% of the workforce are going to be millennials. More than just having a stable income and contribution, millennials focus on “work-life balance”. This means that they look for happiness at work.
As an organization, this trend should be a factor to consider to achieve a higher chance of hiring candidates and to also increase retention. This is also for the company to function at its maximum capability.
Work Can be a Source of Happiness
There are many ways on how you can transform work from a source of stress to being a source of happiness. Top companies are doing immense research and development on how to improve the happiness of their employees.
From changing the look and design of workplaces up to encouraging employees to bring their pets to work, companies are becoming more and more open to change to remain at the top or be part of the top performing and earning companies.
The good news is, you don’t have to spend a lot of resources just to make your employees happy. There are many simple and easy steps that you can do to improve the overall happiness of your employees.
Here are but a few examples on how you can increase the happiness of your workers:
- Compliment employees for doing a good job
- Reward workers
- Be genuinely interested and connect with them
- Encourage creativity
- Empower them
- Greet your employees
The impact of happiness at work plays a huge role in the success of your organization or business. Are your employees happy? Apply the knowledge you’ve learned in this article and see the difference happy workers are able to produce.