![]() ![]() “ To make customers happy, we have to make sure our employees are happy first.” Happy workers are also more likely to solve difficult problems faster. ![]() On the other hand, companies with happy employees outperform the competition by 20 percent, earn 1.2-1.7 percent more than their peer firms, and are 2.1 percent above industry benchmarks. For instance, account executives at a banking company who were actively disengaged produced 28 percent less revenue than those who were engaged. Statistics from New Century Financial Corporation indicate that employees who are actively engaged in their job, i.e. So it literally pays to make sure your employees are happy. In fact, unhappy employees cost American business over $300 billion each year. And that spreads even more happiness - happiness for employees, for customers, and for shareholders.” The Link Between Employee Happiness and ProfitĪlthough you don’t have to be a math whiz to understand the correlation between happiness and productivity, it should interest you to know the Department of Economics at the University of Warwick found that happy workers are 12 percent more productive than the average worker, and unhappy workers are 10 percent less productive. They stay longer, work harder, work more creatively, and find ways to go the extra mile. In Rob Markey’s Harvard Business Review blog post “Transform Your Employees into Passionate Advocates” he states, “Loyal, passionate employees bring a company as much benefit as loyal, passionate customers. The reason for this is simple: unhappy employees don’t tend to do more than the minimum, great workers who don’t feel appreciated quit, and poor managers negatively affect workers and productivity. A Columbia University study shows that the likelihood of job turnover at an organization with high company culture is a mere 13.9 percent, whereas the probability of job turnover in low company cultures is 48.4 percent. Statistics show that a company’s culture has a direct impact on employee turnover, which affects productivity, and therefore success. The Link between Employee Happiness and Productivity ![]() Save it to read later or email to coworkers. “ To win in the marketplace, you must first win in the workplace.”īONUS: I’ve made a company culture cheat sheet that summarizes the key points and lists every link in this post for easy reference. Google gives back to the community as well as to countries around the world in the form of financial aid, restoring public parks, and Googlers volunteering their time. With an employee count of 47,756 it hardly qualifies as a mom and pop shop, and yet people who work there describe it as having a small-company feel where no one hesitates to “spike a volleyball across the net at a corporate officer.”īut the culture of a company is not just about whether you’re allowed to chuck balls at your boss-it’s also determined by what the company stands for and how it treats others. Whether it’s written down, symbolized in the business logo, or simply an unspoken but understood definition, culture determines a company’s environment.Īn often-cited example of good company culture is Google. In other words, company culture is the personality of an organization from the employee perspective, and includes the company’s mission, expectations, and work atmosphere. “Culture” has been a buzzword in the corporate world for several years, but what does it mean and why is it important? defines company culture as “a blend of the values, beliefs, taboos, symbols, rituals and myths all companies develop over time.” Note: Infographic is at the bottom of the post. The Statistical Case for Company Culture ![]()
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