Happy Workers Do Make Happier Businesses That Thrive
Are you looking to run a successful business? Research indicates that establishing a workplace that encourages employee satisfaction is a great step towards achieving that goal. With that being said, investing in your employees and creating an environment of trust and wellbeing can bring about powerful results. This article provides a closer look at two companies that have seen success with such strategies, analysing the core reasons for their success. Additionally, read on for tips to help turn your organisation into a place of joy.
If you want your business to be successful, make sure to keep your employees content. It has been shown that there is a strong correlation between employee satisfaction and company success. The old adage, "For a lifetime of happiness, help someone," certainly pertains to the current situation; it is up to you to make sure your employees are happy.
The Power of Employee Satisfaction
Research by Bellet, De Neve, and Ward (2019) showed that happy workers are more result-oriented when they are satisfied. On average, a 1% improvement in the employees' overall happiness level is related to a 0.7% gain in sales performance. Additionally, satisfied employees are 12% more successful at converting calls to sales and they make 1.3% more calls per hour. They are also 3.7% less likely to fall behind on their tasks. In other words, contented personnel can drive your business to success.
If you need further convincing about the importance of employee happiness to the success of your business, the following data may help sway you:
Gallup data shows that companies with engaged workers are 21% more profitable than those with disengaged staff.
According to research from the University of Kansas, an increase of one star in an organisation's rating on Glassdoor is associated with a 7.9% rise in the company's market value.
Studies in the Journal of Happiness Studies indicate that content, satisfied employees are more productive in their roles.
So, how do you make your working environment a happy place? The answer is simple: create a brand that emphasises your organisation's values, purpose, and goals. This brand should also show your commitment to being socially responsible and taking care of your employees. In other words, make your workplace an inviting and desirable place to be.
Let’s examine two businesses that have crafted a reputation for joy. Zappos and Buffer; two flourishing organisations that have elevated worker satisfaction to the predominant feature of their ethos.
Examining the Successes of Zappos and Buffer
Zappos is an online retailer that takes employee satisfaction seriously, providing perks and benefits such as free food, a gym on premise, unlimited vacation days, and tuition reimbursement to its staff. Additionally, employees have a level of freedom and autonomy rarely seen elsewhere, thanks to their open organisational structure. This has resulted in the Unites State's highest employee retention rate and makes it a dream workplace for those lucky enough to get in.
Buffer goes above and beyond to promote a culture of openness, togetherness, and wellbeing. Just like Zappos, Buffer provides free food, gym facilities, and unrestricted holiday leave. But Buffer has taken an extra step to ensure that employees are satisfied. The company encourages transparency and cooperation, and invest in worker welfare, including hosting yoga classes, meditation classes, and massages on-site.
At Buffer, all staff members are in the loop regarding the financial status of the firm. This serves to make employees feel as if they are an essential part of the team and that their contributions are taken into account. Additionally, Buffer motivates staff members to offer up their concepts and opinions. This ensures that the business stays modern, and able to meet the demands of its customers.
Encouraging collaboration is also highly valued at Buffer. Teams are given the chance to work together on tasks and exchange information, which creates a collaborative and productive atmosphere.
Finally, Buffer invests in their employee's health and happiness with wellness programmes that are designed to decrease stress levels, improve physical fitness, and increase overall contentment. Such activities could include yoga classes, meditation sessions, or on-site massages that are tailored to reduce stress and lift spirits.
Due to its dedication to staff satisfaction, Buffer has a remarkably low employee churn rate of just 4%. This number is notably lower than the average turnover rate for tech companies, which stands at and hovering at 13%. Fortune magazine also positions Buffer as one of the top companies to work for in America.
How to Turn Your Workplace into a Place of Joy
Want to turn your workplace into a place of joy? Here are some ways to help make your employees beam with contentment:
Provide benefits reflecting your organisation's ethos. When it comes to developing happy and motivated employees, incorporating rewards that reflect the company's values and culture can make a real difference. Companies that prioritise health and wellness could offer perks such as on-site fitness centres, discounted gym memberships, and nutritious snacks. To foster creativity and innovation, businesses can provide opportunities for employees to work on personal projects or fund educational programmes. By aligning service and rewards with the company's ethos, employers can create a supportive and successful environment that rewards engagement and dedication.
Develop a Culture of Openness and Teamwork. This means being frank with employees about the business’ objectives, achievements, and financial standing. It also means welcoming the input of staff by actively encouraging them to voice their opinions and suggestions, as well as working cooperatively to resolve issues.
Invest in the growth and well-being of your employees with training and wellness programmes. Offer opportunities to learn new skills, attend conferences, or get certified in new areas. Companies could also offer on-site wellness programmes, such as yoga classes, meditation classes, or healthy eating workshops.
Celebrate achievement and acknowledge employee contributions. Acknowledging and rewarding employee accomplishments is an effective way of increasing morale. Regular staff appraisals to recognise progress should be implemented, as well as public acknowledgements. Even a simple 'thank you' can go a long way in making staff feel valued. Celebrate achievements - these don’t have to be elaborate or costly, any show of appreciation will make a difference. It has been shown that recognition and celebration are important for everyone’s motivation and effectiveness, and is also beneficial to the overall work climate.
Encourage openness and follow through on suggestions. To encourage feedback, make it easy for employees to do so by providing multiple opportunities; surveys, suggestion boxes, or one-on-one meetings, all work. It is also important to make it clear that feedback is welcome and valued, regardless of whether it is positive or negative. Respond to feedback in a timely manner, even if it is not possible to take immediate action. Make changes to policies or procedures if feedback indicates that there is a need for improvement and then convey the action you’ve taken.
Develop a strong employer brand that showcases the company’s commitment to social responsibility and employee well-being. Show your employes and the world the great things you’re doing to make a difference in the world. This can be achieved through employee testimonials, social media posts, or even word-of-mouth.
The data is clear: a happy workforce is a productive workforce. Companies that invest in their employees reap the rewards in terms of increased morale, productivity, and customer loyalty. So, if you want your company to succeed, focus on the well-being of your people. They are your most valuable asset.
