Why Happy Employees are Essential for Business Success
Happy employees are great advocates for business and are more likely to reward employers with loyalty and engagement, so what can you do to inspire more joy in your teams?
Tara Lennard - 5 July 2021
Employees are a company’s greatest asset, and ensuring they are happy at work has increasingly become imperative for businesses. There is growing evidence to show that when employees are happy and taken care of, organisations thrive.
Fostering a work environment that people love and that inspires employees to take joy in their work can reap enormous benefits. Read on for some key reasons why employee happiness is critical for business success and how you can promote this in your organisation by offering benefits that employees value:
Employee happiness boosts brand image
Your people are your company’s greatest resource and can hugely influence public perception of your brand. When a company demonstrates appreciation for its employees, those employees will feel valued and show appreciation for the company in return. This positive outlook inevitably shines through in interactions with clients, which is why having happier employees is a strong predictor of having happy customers.
Additionally, if happier employees remain loyal to your company and end up staying for longer, it can be helpful for new client acquisition. When clients see new faces too often, they may lose that personal connection with your brand and may come to wonder why your company cannot retain its employees long term. Therefore a happier workforce is not only great for customer success but also your company’s ability to grow sustainably.
Placing too little importance on employee benefits can create frustration amongst your people, who may be feeling under-appreciated based on what you’re currently offering, which might reflect negatively in customer interactions and their performance. Finding a balance between having practical products and services that employees need, and providing fun benefits that your staff will enjoy, is key to keeping them happy.
If you want your team members to be happy at work, you need to listen to what your staff want and understand what you can do to make both their professional and personal lives better. With YuLife, traditional insurance is bundled into a gamified app containing all the life-enhancing health and wellbeing benefits that employees actually want to use and engage with daily - protecting the wellbeing of your employees today and in the future.
It’s easier to retain happy people
Unhappy employees are much more likely to leave their jobs. A high employee turnover rate, and resulting loss of expertise coupled with having to recruit, train and on board new people is very costly in terms of time and money. Short tenure can also have a detrimental impact on morale in remaining employees, who may begin to question the quality of the work environment and employee experience, as well as their own prospects for employment longevity.
More than a third of UK workers are seeking a mindful work culture
There’s nothing like a challenging year at work to make people ask what their employer is actually doing to care for them and make them want to stick around. YoGov and YuLife’s Employee Wellbeing Survey found that 42 % of employees are now more stressed at work than they were before the onset of the pandemic, meaning it is now more important than ever to invest in looking after your employees to prevent them from going elsewhere.
As a growing number become unhappy with their current job situation post-COVID, more people are being drawn to companies that champion employee wellbeing. According to a recent study by Slack, more than a third of UK workers are now seeking a more mindful work culture. So, prioritising wellbeing in your employee benefits offering is a good way to retain top talent and avoid employees being wooed by another company.
Use of digital mindfulness apps can help promote this. More and more research is showing that meditation leads to happiness by improving our ability to appreciate enjoyable experiences. By syncing in with apps like Calm and Headspace, YuLife’s wellbeing app helps employees learn how to practice meditation anytime, anywhere and offers rewards for doing so - encouraging them to regularly practise gratitude and pay more attention to positive emotions.
Happy workers are more productive
When you take care of your employees, they will take care of you. A study from the University of Oxford found that happy workers are 13% more productive. If you make your employees feel happy and valued, they will invest more time and effort into achieving their goals and be motivated to do their best work.
Investing in a comprehensive employee benefits package that gives employees the tools to deal with problems that might impact their work performance sends a clear message that you truly care about your people and is a brilliant way to support them to be their best. Providing an Employee Assistance Programme (EAP) to equip employees to better manage life’s challenges helps facilitate increased happiness and boosts their mental wellbeing.
YuLife’s Employee Assistance Programme, YuMatter, is a confidential support service that covers more than just mental health resources: employees have access to engaging useful legal and financial advice, as well as life coaching and guidance on career development to help them feel happier, calmer and more confident in their daily lives.
Find out how employee benefits can increase your workplace happiness
The more you do to demonstrate that you care about your people, the happier they will be and in turn reward your business with their productivity, loyalty and dedication. With YuLife, your employees will have access to a comprehensive wellbeing package, including a life insurance policy, EAP, Virtual GP, and the wellbeing app. Click here to find out what YuLife can do for your team this year.
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Tara joined the YuCrew in 2021, she loves reading, going on long walks and taking care of her house plants.