Science Proves Happiness at Work is More Profitable.
News: The Science of Happiness at WorkTM by iOpener Institute UKs CEO Jessica Pryce-Jones proves the value and benefits of the latest science of hapiness at work research.
Jessica was recently in South Africa to launch her book “Happiness at Work”, which clearly details when people are happy at work, it positively impacts all aspects of performance, productivity, profits and potential.
Pic Business Speaker Life Masters Tony Dovale and Jessica -Pryce- Jones of science of Happiness iOpener Institute UK
What is Happiness at work? Happiness at work …is explained by iOpener Institute UK’s Jessica as “a mindset which enables action to maximize performance and achieve potential.”
Emotions indicate that actions are on the right track, but mindset matters most. This mindset results in positive attitude, optimism, resilience and courage – or psychological capital.
Building Teamworking & Psychological Capital
Psychological capital is an essential part of social capital, which in turn contributes greatly to human capital. And that of course affects the bottom line.
What’s exciting about this new science is that we have really strong data showing just how clear the financial benefits that support the The Science of Happiness at WorkTM are.
So what does the The Science of Happiness at WorkTM consist of?
Happiness at Work is driven by the 5Cs
Extensive Happiness at Work research by Jessica and her team are building a great case for leaders to take notice of the positive upside of a happier workplace and better organisational Culture
Research has identified five primary components (5Cs) that inform and build the Happiness at Work platform:
- Contribution is the effort an individual or team makes
- Conviction is short-term motivation
- Culture is a feeling of fit at work
- Commitment is long-term engagement
- Confidence is the belief in ones abilities
The 5Cs form an organisational ecosysytem which works together to support and enable greater performance in the workplace. When one component starts to fall, the other aspects will be impactd negatively as well.
But when building individuals, teams to have high levels of all the 5Cs, and when coupled with Trust, Recognition and Pride, then they can /will perform at their best whatever happens in the envoronment.
The 5 Happiness at work C’s are supported by Trust, Recognition and Pride
These core support of workplace happiness correlate with each component of Happiness at Work model, and are fundamental building blocks of any successful organization. Here is what leaders and managers need to understand about building better teamworking and greater happiness at work to support increased workplace performance:
- Trust in your organization flows from two sources; your colleagues and your senior leaders
- Recognition from your organization encompases who you are, what you do and how you do it
- Pride in your organization comes from identifying with it, achieving success and being aware of your colleagues’ success too
How Happiness at Work impacts the bottom line
Building Happiness at Work generates revenue by increasing performance and productivity. And it cuts costs by enabling employees to improve efficiency.
In an organization of 1,000 employees increasing Happiness at Work:
- Reduces the cost of employee turnover by 46%
- Reduces the cost of sick leave by 19%
- Increases performance and productivity by 12%
Organizations embrace the The Science of Happiness at WorkTM because it has such a dramatic effect on overall business results, leaders and employees.
Compared with their least happy colleagues, the happiest employees:
- Spend 40% more time focused on task
- Spend 65% more time feeling energized
- Believe they achieve their potential 155% more
Increasing time on task alone equates to an additional half day of work per week per employee. And that time produces higher quality work because employees approach it with more energy and achieve more fulfilling results.
Happiness at Work also increases employees’ ability for innovative, creative and collaborative work. The happiest employees:
- Enjoy challenges 15% more
- Feel 66% more strongly that they use their strengths at work
- Feel 129% more confident raising issues and ideas
Building Happiness at Work increases the capacity for creative and forward-thinking work. This helps generate new ideas, develop new products and create new business solutions
Compared with their least happy colleagues, the happiest employees also:
- Have a 50% stronger sense of getting things done
- Feel 56% more effective at their work
- Feel 85% more efficient
- Believe 116% more strongly they achieve their work goals
They also take 6 fewer sick days per year, and stay twice as long in their jobs. Sick leave and turnover are two of the largest inefficiencies in the cost of labor and cost the UK economy alone £26 billion per annum.
Motivate top talent
Beyond a certain level, money only has marginal and negligible effects on performance.
Top talent is driven by a strong desire to achieve potential and want their organizations’ support along the way. Purpose-driven and performance-led, these important individuals want to change the world.
Any workplace that acts on this knowledge creates a long-tenured, dedicated and engaged talent pool. From our data we know that these valuable and highly-motivated employees:
- Feel 152% more strongly that their job fits with their career plan
- Feel 155% more strongly that they are achieving their potential
- Feel 183% more strongly that they are having a positive impact on the world
Employees that feel this way:
- Stay longer in their jobs, reducing recruiting, on-boarding and training costs
- Deliver faster and add greater value to their organizations
- Learn more, reach out more and are more resilient, increasing human, social and psychological capital
All of which of course impact the bottom line.
Attract and retain talent
Compared with their least happy colleagues, the employees who are happiest at work:
- Are 58% more likely to go out of the way to help their colleagues
- Feel 98% more strongly that they identify with the values of their organization
- Are 186% more likely to recommend their organization to a friend
Employees who are happier at work dedicate more effort to their organizations because they feel greater loyalty to them. But there is more to this than just creating a collaborative corporate culture.
These employees attract and retain top talent. They do so in three main ways:
- They spread the word. By recommending their organization to others, they create valuable “social proof” that their organization is an excellent place to work.
- Talent attracts talent. Talented individuals flock to organizations that have the demonstrated ability to attract talent.
- Alumni champion the organization. Alumni who were happy in their work continue to refer talent to former employers because they trust that new talent will have the same positive experiences they had.
Building Happiness at Work creates a sustainable talent pipeline, not just a one-off performance boost.
What attracts top talent?
Top talent is driven by more than money. Happier employees stay longer and act as champions for their organization. Our data makes this abundantly clear.
What do you want your organization to be known for?
Making a commitment to the The Science of Happiness at WorkTM tells all stakeholders that you know people are your most important assets; and that you act on this understanding.
If you are ready to move your company team buildings, or organisational culture to the next level with the powerful and predictable possibilities of the new The Science of Happiness at WorkTM. We offer Coaching, Consulting, 360 team assesments, Free happiness at work assessments, Organisational Culture enhanceement and Appreciative Inquiry Based Team Building process. Contact Tony dovale on 083-447-6300