Are your employees happy?
If the answer to the above question was no, do you know how much your unhappy employees are costing you? You might be surprised.
In the United States, roughly $450 to $550 billion is wasted each year by disengaged employees in the workplace. That is an incredibly high number, but with the right mindset and work environment, you can significantly boost employee productivity and employee happiness.
The happiness of your employees can play a major role in practically every aspect of your business. Roughly 7 of every 10 United States employees are not working to their full potential, which is affecting thousands of businesses all throughout America. Creating a company culture that people feel comfortable, happy and satisfied can make an enormous difference in your employee productivity on a day-to-day basis. Nowadays, it is very common to look deeper into a person during the screening process in order to discover whether or not this person may truly fit the corporate culture of your company. When new employees are hired, roughly 46% fail at their job within the first 18 months; mostly due to not fitting with the company culture. So as you can see, it can be extremely beneficial to see whether or not this person will fit in with the corporate culture before they are hired.
Employees who are more engaged then others perform about 20% better then disengaged employees. Engaged employees can cause companies to perform up to 202% better then companies who have disengaged employees. Happy employees lead to higher sales, higher creativity and higher productivity. Employees who are happier in the workplace will be more engaged with their daily tasks which helps lead to entrepreneurial energy and creating innovative ideas.
Companies who have engaged employees are 87% less likely to lose those employees. Of these engaged employees, it can be advantageous to encourage employee friendships which leads to a more positive workplace. It is incredibly important to acknowledge employees’ achievements, which ultimately leads to employees working harder on a day-to-day basis. When managers and and supervisors focus on employees’ strengths, this can in turn double the amount of happy and satisfied employees.
In the end, it is highly beneficial to create a corporate culture that increases productivity and employee satisfaction. By helping your employees become more engaged, you will have a lower turnover rate as well as happier employees, thus leading to an increase in sales.
Here are a few tips on how to enhance workplace happiness:
Positive Relationships: It is incredibly important that your employees have good relationships with one another. This may have a major affect on how your productive your employees are. If they enjoy their co-workers, they will look forward to the time they spend at work which will ultimately make it more rewarding. This is often a major factor in businesses in general being that it is one of the first reasons as to why they enjoy working for your company.
Positive Communication: This is huge. Happiness equals success. If your employees are not happy and are unaware of changes and things going on within the company, they will not succeed.
Suggestion Box: It’s the 21st century, we know this seems a little crazy. Suggestion boxes allow employees to feel that they are truly making a difference. It is important for your employees to feel like they matter. Working for a company that will hear you out and consider your suggestions often increases creativity and allows your employees to communicate suggestions to the company without feeling uncomfortable.
Positive Company Culture: This can be broken down many different ways. Whether it’s “bring your child to work day” or a fun break room or a free cocktail here and there, there are so many different simple ways to make the workplace fun for your employees. The happier your employees, the greater chance of high performance which leads your company to success.