A happier workforce is like a hidden treasure that employers can cash in anytime. The happier and more satisfied your employees are, the more they will contribute to your corporate growth and development. Besides, keeping your staff members satisfied significantly reduces turnover rates and helps businesses achieve operational efficiency.
Several studies have been conducted on how to create a happier workforce. Some experts consider market-competitive salaries as the most viable option to please your workers. Others suggest that the overall workplace environment and organizational culture are the deciding factors behind winning the loyalty of employees. Combining all these concepts, i.e., good wages and a supportive workplace environment, can lead to improved team productivity and growth.
In this article, we will discuss the importance of a happier workforce in 2023 and share some valuable tips to keep employees happy in today’s digital landscape.
So, let’s get started!
The Definition of a Happier Workforce
Workplace happiness is a broad term that cannot be applied subjectively. If an employee feels happy and satisfied with a good salary does not mean others would be delighted with this idea too. This diversity in ideas and preferences makes it quite challenging for entrepreneurs to create a happier workforce.
According to HR professionals and workforce management experts, happy and satisfied employees enjoy what they do and have the freedom to make decisions on their own. They are proud of their jobs, take ownership of their tasks, and never hesitate to take on new challenges.
Most importantly, delighted teams have very low levels of workplace stress and anxiety. They are quite flexible in their work schedules and always go the extra mile to exceed their employers’ expectations.
Why Creating a Happier Workforce is Necessary?
Workforce happiness is directly linked to higher team productivity, organizational efficiency, and client satisfaction. Check out some of the key reasons why keeping your employees happy is essential in 2023:
1. Higher Team Productivity
A happier workforce increases team productivity by nearly 12%, found renowned economists of the University of Warwick in a recent study. The research also showed that workplace happiness has a long-term impact on work relationships and decreases employee burnout rates by nearly 23%.
Happy employees like engaging with their team members more frequently and sharing unique ideas. Besides, workplace happiness encourages employees to become more attentive to their customer’s needs and perform better to achieve their desired goals.
2. Professional Development
The second benefit of workplace happiness is professional development. We all know that everyone makes mistakes, particularly while doing a job for the first time. We can’t avoid mistakes; rather, we have to learn from those mistakes to ensure continuous improvement and deliver better results.
This is where a happier workforce stands out because it learns from its mistakes and strives to achieve perfection. This positive attitude of learning from mistakes encourages team members to hone their skills rather than fearing consequences from top management. Eventually, satisfied employees keep upgrading their skills and expertise and working hard to exceed the expectations of their employers and customers.
3. Innovation & Research
Teams suffering from high levels of job burnout and workplace stress can never work efficiently. Modern work environments are quite challenging and demand out-of-the-box solutions to meet expectations. Hence, HR managers take all possible steps to minimize workplace anxiety and improve the mental health of their employees.
As a result, a happier workforce focuses on research and development and strives to reinvent the traditional process for better results. When your employees are happy, they love their jobs and don’t make absences occasionally. Hence, instead of losing precious work hours due to sick or casual leaves, companies report improved attendance rates and bring innovation to their operations.
4. Better Team Economics
Do you know how much companies have to suffer financially from absenteeism? According to an estimate, the SMEs have to bear $3,600/year for hourly workers and $2,650/year for salaried employees due to unscheduled absenteeism. And workplace anxiety is one of the primary reasons behind absenteeism.
On the other hand, workplace happiness significantly reduces the rates of unscheduled absenteeism due to improved mental health. A happier workforce maintains its attendance record and strives to achieve operational efficiency. Ultimately, businesses can save thousands of dollars they have to pay for unscheduled absenteeism every year by keeping their employees happy.
5. Organizational Growth
No business can grow in any industry unless it keeps its employees happy and satisfied. Workplace happiness is as essential for organizational growth as strategic planning, proper execution, and close monitoring.
Hence, workplace happiness positively contributes to organizational growth and development. Happier and more satisfied employees are more loyal to their organization and feel pride in this relationship. They keep working hard to make their enterprise a success and stand out from competitors.
Therefore, achieving workplace happiness is necessary to boost corporate growth and become a market leader.
Tips for Happier Workforce
Want to keep your employees happy and satisfied? Follow these valuable tips given by top experts to create a happier workforce and achieve operational efficiency:
Give Regular Feedback: Share your feedback with your employees regularly and make sure to balance between constructive feedback and a critical one for better results
Optimize Work Environment: Take all possible steps to create a positive, supportive, and open work environment that facilitates professional growth and employee empowerment
Use Automation Technology: Empower your teams and make data-driven decisions by automating HR operations with workforce management software.
Ensure Work/Life Balance: Maintain a healthy work/life balance by giving your employees the flexibility to adjust their work schedules and creating a flexible work environment.
Listen to Your Staff: Employees want their voices to be heard at the executive level. Hence, make sure to listen to your employees’ queries and solve their problems without unnecessary delays.
Appreciate Outperformers: Praise the hard work of your employees and appreciate outperformers by offering performance-based bonuses and incentives. This is a proven way to achieve operational efficiency and create a happier workforce.
Final Words
Workplace happiness refers to building a happy, satisfied, and delighted workforce that delivers impeccable results and exceeds employers’ expectations. Keeping employees happy allows business leaders and team managers to achieve their desired objectives and exceed their client’s expectations.
Similarly, a happier workforce results in higher team productivity learning from its mistakes and bringing innovation to organizational processes. Companies can boost their corporate growth and achieve cost savings by reducing unexpected absenteeism.
Lastly, the best way to create a happier workforce is to share regular feedback and make data-driven decisions based on actionable insights. For this purpose, you need a cloud-based workforce management software like Smart Workforce that allows you to monitor your staff remotely, make informed decisions, and keep your employees happy and satisfied.
Try Smart Workforce for free today!