Is a happier workforce somehow better? Many workplace experts believe so. A recent PayScale report indicates that as many as 70 percent of American employees currently working are unhappy and unfulfilled at work. This leads to several problems, including high employee turnover rates and low productivity levels. This is costing businesses billions of dollars in lost revenues.
In this article, we will talk about the matter of employee happiness and give five reasons why a happy workforce adds up to better employees.
Reason 1. Employees produce 10 percent more work when they are happy
A University of Warwick (UK) study showed that when workers were happy and satisfied with their jobs, productivity increased by as much as 10 to 12 percent over previous levels of job performance. This means that if your workers are happy, they are more engaged and probably working harder to achieve their goals. The company ultimately benefits from this effort.
Reason 2. Happy employees tend to stick around longer than unhappy ones
As stated earlier, the PayScale report indicated that happy employees are getting to be harder to create. When employees are given the right compensation, rewarding tasks, and opportunities to shine, they are more apt to stay in there for the long haul. Loyal employees equate to greater employee retention rates and the chance to get some ROI from recruitment efforts.
Reason 3. Engaged employees create more sales revenues for the company
A Gallup poll published in a popular psychology journal indicated that employees who are happy and engaged in their jobs tend to generate more sales revenues over time for the companies they work for – as much as $300 billion in the year studied. The very perception of working for a great company creates more favorable attitudes towards promoting the company, and this includes backing up company offerings to get more sales.
Reason 4. Happy employees tend to infect the organization with more happy employees
When employees are happy and they show it at work, this tends to reflect on the corporate culture. Humans are more apt to follow their peers. A positive attitude and performance of even a single employee encourages others to feel the same way.
Reason 5. Happy employees help to bring in other happy employees through referrals
If employees are truly happy in their jobs, they are usually willing to refer their colleagues to the company. This means your company can gain access to some of the best passive candidates out there, without as much of the work that goes into sourcing them.
Take steps to find out what makes your employees happy, put effort into creating a better corporate culture, and your organization can benefit from the above perks.
