It’s no secret that happy employees contribute immensely to your business growth. And when you have happy, productive employees, your business grows.
But why is this true? Well, for starters, happy employees are more likely to bring their best selves to work every day. They’re less likely to get sick and take days off, which means they’re more likely to be there when you need them. They’ll also be more likely to go above and beyond in their work because they care about the company and their role within it.
Employees are more likely to advocate for your company when they are happy and engaged with their work. Happy employees tend to use different employee advocacy tools to share information about their work with other people. This can help you develop a strong brand image and increase your customer base.
In this article, we are going to explain why keeping your employees happy is so important for your business’s growth.
Happy Employees Are More Productive Employees
The most recent study from the University of Warwick shows that happiness increases people’s productivity at work. Economists conducted numerous studies to investigate if happy workers actually produce more. In the lab, scientists discovered that people were 12% more productive when they were happy – meaning continued and higher business growth.
When employees feel like they are part of something bigger than themselves, they will be more inclined to work harder and put more effort into their job. This can be seen in the way that happy employees tend to stay with a company for longer and perform better than their unhappy counterparts.
In addition to being more motivated, happy employees also tend to be more engaged at work. This means that they are more likely to take on additional responsibilities without having to be asked by management or supervisors because they have a vested interest in helping the company succeed. They also tend to have positive attitudes about everything from their jobs to their coworkers, making them great team members who will go above and beyond what is expected each day.
Happy Employees Tend to Experience Less Burnout
As a business owner, you know that hiring the right people is key to your success. But what if you hired someone who was a perfect fit for your team at first glance but ended up burning out and leaving your company? How much would that cost you?
American businesses lose almost $1 trillion annually due to turnover. One employee’s turnover cost typically ranges from one-half to two times their annual income.
As per the APA’s 2021 Work and Well-being Survey, the negative effects of job-related stress were indicated by nearly 3 in 5 employees, and they included a loss of enthusiasm, drive, or energy (26%) and a lack of effort at work (19%). Additionally, a staggering 44% of people experienced physical fatigue – a 38% increase from 2019 – while 36% claimed cognitive weariness and 32% cited emotional exhaustion.
All these figures point out the same thing, i.e., when an employee leaves a job due to burnout, employers have to pay a hefty price. But you can avoid this by initiating employee wellness programs in your company.
Another way to keep employees happy is by ensuring that all team members feel valued by the organization and understand how they fit into its mission and vision. When this happens naturally within a company culture of trust and respect, employees are likelier to stay engaged with their work and have an overall positive attitude towards life at work.
Happy Employees Are Less Likely to Quit
People who don’t feel valued and appreciated at work are more likely to leave their jobs. And employee turnover is greatly influenced by employee happiness. According to research from the Development Academy, over 75% of dissatisfied employees want to quit their jobs.
The U.S. Bureau of Labor reports that 4 million workers left their jobs in April 2021, and another 4 million did the same in July.
The figures underscore the need to keep employees happy and engaged to prevent them from quitting. This will ensure continued growth for both employers and employees.
When employees feel valued, it helps them develop a sense of loyalty toward the company and its mission. When an employee feels like an integral part of a team, he or she is more likely to put in effort and time towards the company’s goals and interests. This kind of employee is also less likely to quit because he or she feels like he or she has a stake in the company’s success.
Happy employees also tend to have better relationships with their coworkers, which can help build trust within the organization as well as encourage collaboration between departments. This fosters a feeling of camaraderie that makes it easier for everyone on staff to work together toward common goals.
In conclusion, the benefits of employee happiness for business growth are many. Your employees work more effectively when they are happy. They work harder, remain with your business longer, and help build a great culture for your company, which can lead to further growth.
The moral of the story is simple – when you make your employees happy, they will make you money.
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