“If it was fun, it wouldn’t be called work,” said dads everywhere since the beginning of time. Dinosaurs probably roared it to their children in their own way.
The fact is, though, all of those dads are wrong. Sorry, dads.
When employees are happy, companies are more profitable and they stay in business longer. Here are the cold, hard facts on the close correlation between happy workers and bottom line performance.
1. Business units identified as “highly engaged” return profitability numbers 21 percent higher than their competitors. (Gallup)
2. Happier employees tend to be at least 10 percent more productive. Happiness at work is often related to companies that trust their employees to a larger role in decision-making. (University of Warwick)
3. A desirable work environment attracts the most talented candidates, who are essential to long-term business agility and adaptability as customer demands evolve. (Buzzuzz)
4. Companies where leaders treat employees with more compassion have shown greater “collective resilience” during volatile times. The benefits extend beyond the receiver of compassion at work to the business leaders who provide it and those who witness the event. (University of Michigan)
5. Higher employee retention = higher market valuation. “When you have reduced employee turnover, it makes a huge difference in earnings,” says Jerome Dodson, manager of the Parnassus fund. (USA Today)
6. Happy employees pass on their well-being to generate happiness in customers. Humana found that happier nurses treated patients better, resulting in 91 percent fewer visits to urgent care facilities. (The Guardian UK)
7. Disengaged workers cost U.S. businesses $450 to 550 billion every year due to losses in productive capacity. (Entrepreneur.com)
8. To have a better workplace — one with career development options, a positive company culture and meaningful tasks — millennials would take a $7,600 pay cut. (Fidelity Investments)
9. Companies that are identified by employees as great places to work “finish first in profitability, revenue growth, stock performance, and other key business measures.” (Fortune)
10. In one of the few areas where job seekers agree with HR professionals, 71 percent of both claimed that referrals from existing employees are the single best source of reliable new hires. Referrals tend to improve both long-term retention and on-the-job engagement. (CIO.com)
11. Happy employees change the world. The future of work will be guided by millennials and Gen Zers, who are primarily interested in sustainability and purpose-driven work. They want to work for companies that do well by doing good for the planet. (Huffington Post)
12. Investments in purpose-driven companies have outperformed the market by 5X over the past decade. (Committee Encouraging Corporate Philanthropy)
All Play and No Work
Take the pressure off yourself and your employees to rev up cash flows and improve your financial performance in the turbulent global economy. Rely on the experts at Buzzuzz to track employee productivity and strengthen your company’s collaborative index. It’s all about aligning team goals, the gamification of participation and appreciating the time you spend together. Throw out old assumptions, knock down barriers and have more fun if you want to enjoy the kind of success that goes with market leadership. That doesn’t sound like work at all.