How Happy Employees Drive Business Success
Keeping your employees happy is a big key to business success.
Employee happiness is often an overlooked factor in business success. Yet, it’s the secret ingredient that sets thriving companies apart from those that are barely surviving. The notion of a happy workforce might seem elusive, but it’s more achievable than you think.
In fact, prioritizing employee happiness can be your ticket to higher productivity levels and unprecedented growth. Here’s how.
The impact of employee happiness on business success
Ever wonder about the correlation between employee happiness and business success? You’re not alone. One study showed that stock prices for companies listed under Fortune's “100 Best Companies to Work For” rose by 14% per year from 1998-2005. And a Gallup poll found that most workers would need more than a whopping 20% pay increase to leave an engaging manager who keeps them satisfied at work.
It’s clear, then, that there’s a strong link between employee satisfaction and business success, which means that keeping your employees happy is crucial in today’s competitive landscape.
The power of trust and transparency
A positive example set by leaders has far-reaching effects on team morale and productivity. Jon Sumroy, strategic advisor at Poseidon Holdings Ltd., believes this leadership style boosts the entire team's energy positively leading to happier workers who are enthusiastic about their roles.
Good leadership also inspires trust, which, as Inc.com highlights, is a key driver for employee happiness. It fuels productivity, sparks innovation, and fosters enthusiasm among workers. And this trust comes from transparency. When employees understand the big picture and the company’s direction, it makes them feel part of something meaningful.
To build this trust further, it's crucial to understand employee concerns and take them seriously. HR professional Laura Grieco emphasizes the importance of addressing these issues promptly as an integral aspect of keeping employees happy.
Work-life balance is a vital cog in the wheel of employee happiness. The American Psychological Association’s Stress in America survey suggests that stressed workers lead to decreased productivity and job satisfaction. Minimizing workplace stress, therefore, not only boosts morale but also enhances overall performance. That means flexibility, often with working hours and locations. Letting employees work from home a few days a week or allowing them time every day to go pick up the kids from school can go a long way toward increasing job satisfaction.
A sense of community
A balanced work environment does more than just keep employees happy, it makes them feel like they’re part of something significant – something larger than themselves. Fostering a culture of inclusiveness also helps generate a feeling of belonging, which increases job satisfaction. Together, these feelings of community and belonging can help turn your staff into a team, a cohesive group working toward a common goal. This, in turn, boosts employee morale and increases engagement – two key components for business success.
But while supporting greater work-life balance and fostering a sense of belonging and community can form a solid foundation for employee happiness, they’re really just the tip of the iceberg.
The role of recognition and rewards in boosting employee morale
Everyone wants to feel valued, especially at work. So a little recognition can go a long way when it comes to employee happiness. It doesn’t have to be elaborate. Often, a simple “thank you” for a job well done can make employees feel seen and appreciated. But recognition doesn’t have to stop there.
Employee happiness is about a lot more than just a paycheck. Jakki Liberman, an expert in employee engagement, emphasizes creating a positive work environment where employees feel empowered and valued. She suggests giving employees a prime parking space or a celebratory lunch as recognition for good work. She also recommends giving employees opportunities for career development by providing training or assigning additional responsibilities.
Bobby Hotaling, president and CEO of the Hotaling Group, takes this concept of rewards one step further by suggesting that benefits beyond the basics can keep workers satisfied and loyal.
"It's important to offer more than just basic benefits," says Hotaling. Additional benefits such as gym memberships or wellness programs can not only increase employee happiness but also keep your workers healthier.
Ensuring employee contentment isn’t just a desirable outcome, it’s essential for achieving organizational success. Trust and transparency play a significant role in sparking innovation, productivity, and excitement within your team. Work-life balance is not an afterthought but a crucial factor in maintaining morale and reducing stress levels at work. Recognizing and appreciating employees regularly holds the real power to make them feel valued and motivated. And going beyond basic benefits fosters loyalty that yields long-term dividends.
While that all sounds great, it also takes a lot of hard work. And that’s where Crewhu can help. The only employee recognition and customer satisfaction platform built specifically for MSPs, we can help you foster a corporate culture of recognition and collaboration that will take employee happiness through the roof.
Using advanced gamification techniques, we make work fun by celebrating everyday progress and recognizing your employees in ways that align with the core values and goals of your organization. If that sounds like something your crew could use, book a demo with us today and find out how Crewhu can help take your company to new levels of engagement and success.