Happiness: the key to business success in 2019 - eBook - Interact Intranet
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eBook Happiness: the key to business success in 2019
Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
Contents
Create a productive and happy workplace 3
1. Engage employees at an emotional level 4
2. Effective communication that goes both ways 5
3. Create a culture of trust 6
4. The importance of work-life balance 8
5. You get what you pay for 10
2 3
Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
Create a productive and 1. Engage employees at an
happy workplace emotional level
C
ould the key to business a long time to be dissatisfied! This is Employee engagement is big committed to achieving its objectives.
success in 2019 really be... also a a main reason why the average news, particularly in internal They are approachable, willing to help,
happiness? A study by the person holds between 12 and 15 jobs communications and HR. According and you will probably never hear them
University of Warwick states: “happy in their lifetime. Turnover, though, is to the Workplace Research say ‘that’s not my job.’
people are 12 percent more productive an expensive prospect for businesses. Foundation, increasing employee
than ‘normal’ people.” This shouldn’t According to the Work Institute's 2018 engagement investments by 10% Unfortunately, despite a heavy
come as a surprise as the average Retention report, it costs employers can increase profits by $2,400 per emphasis on employee engagement
person spends most of their adult life 33% of a worker's annual salary to hire employee, per year. solutions, Gallup’s State of The
at work; approximately 92,120 hours, a replacement, based on two factors: American Workplace reports that only
Employee engagement is ‘the 33% of U.S. employees are engaged
emotional commitment the employee in their job, and that figure has barely
Recruitment and training of new hire has to the organization and its goals.’ moved over the past 5 years.
An emotional commitment from an
Lost productivity during training employee means they are engaged
beyond turning up to get paid. They
believe in the company values and are
Furthermore, Gallup showed in its are estimated to cost the US between
'State of the Global Workplace' report $450 and $550 billion in lost So, what can your company do to engage more employees at
that unhappiness doesn't just get productivity every year. By constrast, this level?
costly when the employee in question happy employees bring a host of
leaves - in fact, unhappy employees business benefits, including:
At Interact we believe company values Team is not exhibiting the values,
should be lived, not laminated. If you then it’s highly unlikely your
want your employees to believe in the employees will.
Higher productivity - up to 2x values of your company, those at the
top need to ensure that the decisions Recognize and reward employees
Increased retention - up to 5x longer then unhappy staff they make and the behavior they who exemplify your values. This
demonstrate are in line with those demonstrates their importance to the
Up to 6x more energy to their role values. Culture filters from the top rest of the company and inspires other
down, so if the Senior Management employees to follow suit.
10x less sick leave
Increasing happiness at work should be a no brainer. It's mutually beneficial,
and as the following tips show, it doesn't have to cost an arm and a leg.
4 5Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
2. Effective communication
that goes both ways
Your team is only as strong as your them to connect with each other, you
communication skills. With open are creating an environment that will
lines of communication, you will nurture innovation and cultivate new
know when an employee is struggling ideas to stay one step ahead of
or when a project needs an extra pair the competition.
of hands. You will also be right there
when someone on your team deserves Make communication a two-way
recognition for a job well done, and street to encourage employee
that is key to employee happiness. participation and build engagement.
When employees feel they can speak
Unfortunately, many companies in candidly about their triumphs and
today’s tech-savvy era still lead with struggles, they are more likely to
top-down communications. In fact, communicate positively with both
86% of employees and executives their peers and managers. This
3. Create a culture
cite lack of collaboration or reduces blame culture and helps the
ineffective communication for entire team to tackle problems
of trust
workplace failures. head-on.
Your employees have the knowledge
to solve problems, and by enabling
Trust is important in both peoples’ their own decisions and ultimately
personal and work lives; it’s the fail or succeed on their own terms.
foundation that relationships are Empowerment breeds innovation.
built on. A workplace without trust Without the freedom to try new
can cause many issues, including things, creativity is stemmed, and
a breakdown in communication, you end up with a workforce of ‘yes
reduced employee morale and men’ and a company that is constantly
a general lack of respect for the lagging behind competitors.
company and one another.
Feeling trusted makes people believe
According to Tolero Solutions, 45% in their abilities, which is engaging
of employees say a lack of trust and ultimately boosts job satisfaction
in leadership is the biggest issue and happiness.
impacting work performance. People
need to feel empowered to make
6 7Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
The Jacobs Model, developed by Susanne Jacobs, a specialist in employee
motivation, identifies eight intrinsic drivers of trust in the workplace:
Belong and connect
People need to feel connected to their team
Significance and position
When people don’t feel valued they can feel threatened, which negatively
impacts their performance
Learn and challenge
Research shows that employees who feel challenged are more productive
Security and certainty 4. The importance of
If workers aren’t secure in their position, they can feel threatened, leading
to negative effects on performance and productivity levels work-life balance
Voice and recognition
People should be encouraged to express views and ideas in the workplace, Companies are increasingly moving Technology has had both a positive
so they feel their contributions are recognized and appreciated away from the traditional nine to and negative effect on today’s
five, with 21% of Americans working workforce, with most companies
between 50 and 59 hours per week. offering some form of flexible hours
Fairness
This increase in hours culminates in or the ability to work remotely. This
Employees who feel like they aren’t being treated fairly experience high
increased work-related stress, which may seem like work-life balance has
levels of stress and low productivity
is estimated to cost US companies been achieved, but the advent of
upwards of $300 billion per year. smartphones enables workers to be
Choice and autonomy on call 24/7, regardless of location or
Giving employees a degree of control and the ability to make their own Employees need the time and freedom time zone. The only way to turn off is
choices empowers them to manage their work-life balance to focus on their personal lives. With to stop responding!
a good work-life balance, people
naturally become more productive. Many large enterprises, such as IBM,
Purpose 19th-century British industrialist, Merrill Lynch, Pfizer, and Accenture,
Workers with a clear sense of purpose are more likely to be engaged William Lever, once said: “If we leave have introduced work-life programs
the human factor out of our business to help their employees balance their
calculations, we shall fail every time.” work and personal lives. They, like
He understood that to get the best out William Lever, believe that it makes
According to the Jacobs Model, when performance. On the flipside, missing
of his employees, he had to ensure good business sense to look after their
these eight drivers are satisfied, the any of them can lead to withdrawal,
that they were healthy and happy. employees’ wellbeing.
result is engagement, energy release, distress, absenteeism, and reduced
increased well-being, and improved performance.
8 9Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
5. You get what you pay for
Benefits of work-life balance and employee wellbeing include:
Reduced stress, absenteeism, and health costs
Improved staff morale and engagement Everyone needs to make a living. No and encouragement. They want
matter how great a workplace is or recognition of the effort they put in.
how much a person enjoys their job, if Cultivating a workplace that drives
Improved customer satisfaction
you're underpaying your workers, they collaboration and knowledge sharing
won't stick around. requires a system that allows visible
Reduced office and utilities costs (for remote workers)
recognition of these behaviors.
Studies have found that paying
Improved recruitment, retention, and reduced turnover
employees a living wage drastically You’d be hard-pressed to find
reduces turnover and sick leave, something that tops the feeling that
boosts motivation, improves comes from knowing your hard
Companies should actively encourage These values should be reflected in
reputation, and increases productivity. work has been seen, appreciated,
employees to use their vacation days a rewards and recognition program.
A massive 80% of employers also and celebrated. It goes a long way
and create a culture of openness so Once employees see the culture
reported their staff delivered a higher to ensuring employees feel valued.
employees feel they can speak up if shift from the top, they will realize
quality of work after paying them a However, recognition should be used
the demands placed on them are too the importance of taking time out
living wage, with 75% of employees carefully; don’t reward sub-standard
great. Additionally, they can advocate to recharge, not just for their own
agreeing that the quality of their work behavior. Done correctly, recognition
working smarter and place emphasis wellbeing, but also for the success of
improved. is one of the best ways to demonstrate
on quality of work, rather than the company.
how much a company values the
quantity of hours worked.
Recognition also helps boost extra effort an individual puts in to
employee happiness and productivity; contribute to business success.
it's a key tool in employee retention
programs for a reason. People want
more than constructive feedback
Could happiness be the key to business
success for your organization?
When it comes to business, there’s Don’t let unhappy employees be the
no doubt that happy employees reason your company suffers. By
make a happy workplace. Do they focusing on happiness, organizations
find their work interesting? Do they can ensure that employees are
feel a sense of purpose? Do they feel genuinely engaged and trigger a
appreciated? All these factors connect plethora of positive benefits for both
work experiences directly to employee themselves and the employee.
engagement and most importantly –
how happy they are.
10 11Happiness: the key to business success in 2019 Happiness: the key to business success in 2019
About Interact
Interact is a global enterprise software company that serves intranet software
to over one million users across more than 850 organizations. We specialize in
solving internal communication and collaboration challenges by combining
our sophisticated intranet software with outstanding professional services,
focusing on developing long-term strategic partnerships with our customers.
Interact has offices in Manchester and
New York, and operates across the whole of
the US and Canada, EMEA, and Australia.
Enjoyed this guide? Looking to learn more about social collaboration
technology? Our free 4-part eBook series is for you. In the series, we explore:
01 WHY do I need social in the workplace?
Making the case for social and collaborative technology
02 HOW to get the boss to say 'yes'
Securing stakeholder buy-in for your project
03 WHICH social collaboration tool is right for my business?
Understanding social technology, and choosing a platform to
meet your needs
04 Intranets: are they still relevant?
Exploring the role of the intranet in today's digital workplace
Contact us today:
New York: +1 (646) 564 5775
Manchester: +44 (0)161 927 322
www.interact-intranet.com
12 13Station House, 21 W. 46th St. 16th FL, Stamford New Road, Altrincham, New York Cheshire WA14 1EP, UK NY 10036 +44 (0) 161 927 3222 +1 (646) 564 5775 info@interact-intranet.com info@interact-intranet.com
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