Contributed by Tiana Curtis
Anybody familiar with the phrase, “Happy wife, happy life“…?
A recent article by Robert Wagner at Forbes.com has taken a deeper look at the current statistics. Wagner found “the strongest links between employee happiness and business outcomes occur over the long term and behind the scenes” (pg. 2). The strongest links between employee happiness and business outcomes occur over the long term and behind the scenes. Not surprisingly, turns out innovation flourishes in supportive, transparent, healthy, cool, high-recognition environments. The correlation between employee happiness and innovation is nearly twice as strong as the correlation with customer focus. Only 6% of those who strongly disagree they are happy in their current job say it brings out their best ideas. Among those happiest at work, the proportion spikes to 82%.
The other large correlation found was between happiness and turnover rate. With high turnover rate, companies must spend more time on finding and training new employees and are therefore less able to focus on their customers. Both innovation and turnover ratio can have a huge impact on a company’s bottom line.
The bottom line to this idea? A sharp focus turned on employee satisfaction can help give a company an edge over its competitors by encouraging innovative thinking and reducing costly turnovers. With the right focus, companies will be able to meet the ever-changing demands of consumers in today’s economy.
Just for fun, here’s some of the ways The Fulcrum Group encourages a positive company culture:
What do you do to encourage a positive environment for your employees? Let us know on our Facebook page!
Fulcrum Group SPOT Managed IT Services includes IT vendor management? Our main article, above, has more info on what kind of impact this can make on your business. Contact your Fulcrum Group Account Manager via email or at 817-337-0300 for more details.