Can happiness really be quantified?
The answer is a resounding ‘yes’ according to research conducted by
Psychological Technologies (PSYT). Its app-based study of UK employees found that if every employee in the country was just 1% happier, it could add £24 billion to the UK economy every year. It also calculated that being 1% happier could boost the profits
of companies with over 10,000 employees by £7.38 million.
If happiness can yield such a high return, how can companies capitalise on this, and can employees benefit from an employer actively committed to making their working life better?
Engagement pays off
While in-office perks like communal hang outs, fridges stocked with beers and snacks, and free gym classes were once enough to keep workers engaged and make them feel valued, the flexibility that remote and hybrid work offers is now held in higher esteem.
That is according to the
Owl Labs State of Hybrid Work 2022: United Kingdom report, which found that 56% of workers who switched jobs or who are actively looking to do so, have made flexibility their top priority.
In data compiled by market research software provider
Cypris, while remote work is viewed positively by many employees, the key to job satisfaction is for employees to feel engaged, enthusiastic, and committed to the workplace, which can only be realised by offering autonomy, feedback, and support.
Motivation is key
When it comes to keeping employees motivated and enthusiastic, leadership is key. A good leader will bring their employees on the journey with them, detailing the vision or mission of the company, provide objectives to work towards, and the targets that
need to be met.
When a workforce has a clear goal in mind, it helps to increase motivation, productivity, and job satisfaction. Employers can also give their employees the agency to reap their own rewards via employee recognition platforms like
Workhuman, which claims to increase employee performance by 32%.
Perkbox is a UK-based, global employee benefits and rewards platform which saved employees £3.3 million of their own money last year.
Keep the lines of communication open
Benefits and rewards schemes are effective as an added bonus, but employees also need to feel like the work they are doing day-to-day is not going unnoticed, and this is where performance appraisals come in.
Unlike annual reviews, appraisals can be conducted on a monthly or quarterly basis, which allows workers and managers to check in with each other, flag any concerns, discuss different ways of working, and strengthen team bonds. According to a survey by professional
development training service
Development Academy, good team spirit is the biggest contributor to employee happiness (73%) and feeling unappreciated topped the poll as the biggest driver of employee dissatisfaction, over feeling underpaid.
if you are unhappy in your current role and want to start looking for a new opportunity, visit the
Finextra Job Board or check out the three roles below that are hiring right now.
Senior Account Manager, eClerx, London
eClerx is looking for a
Senior Account Manager to join its digital banking team. Working as a client engagement manager, you will manage key relationships with EMEA clients and lead client engagements and strategy in the areas of analytics, customer experience, content, CRM campaigns,
data governance, data management, robotic process automation, and IT application support. You will also be responsible for a portfolio of revenue targets and growth through developing new relationships.
Apply now.
Senior Risk Manager, Asset Management, Starling Bank, London
Starling Bank is looking for a
Senior Risk Manager who will focus on risk management of its portfolio of externally serviced loan assets. You will have experience in working within a fast-paced, regulated environment, and oversee and manage the risks associated with the acquired portfolios,
including credit risk management at acquisition, review of underwriting and lending policies, risk appetite, and analysis of through the door population.
Get more information here.
Non-Life Actuary (Risk & Capital), Manager, PwC, London
The successful
Non-Life Actuary (Risk & Capital), Manager candidate will have the opportunity to contribute general insurance advice and consulting services to clients. You will provide advice covering solvency, economic capital, risk management, mergers and acquisitions,
company restructuring and risk control, financial modelling, business planning, new legislation, and the efficiency and reliability of reporting processes.
Find out more.
For more great job opportunities, visit the Finextra Job Board today.