Statistics show that a company’s culture has a direct impact on employee turnover, which affects productivity, and therefore success. A Columbia University study shows that the likelihood of job turnover at an organization with rich company culture is a mere 13.9 percent, whereas the probability of job turnover in poor company cultures is 48.4 percent. 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.
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. They stay longer, work harder, work more creatively, and find ways to go the extra mile. They bring you more great employees. And that spreads even more happiness — happiness for employees, for customers, and for shareholders.” Although you don’t have to be a math whiz to understand the correlation between happiness and productivity, 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. In fact, unhappy employees cost American business over $300 billion each year. So it literally pays to make sure your employees are happy.
Statistics from New Century Financial Corporation indicate that employees who are actively engaged in their job, i.e. happy, produce better results. For instance, account executives at a banking company who were actively disengaged produced 28 percent less revenue than those who were engaged. On the other hand, companies with happy employees outperform the competition by 20 percent, earn 1.2 to 1.7 percent more than their peer firms, and are 2.1 percent above industry benchmarks. Happy workers are also more likely to solve difficult problems faster.
Corporate Shiksha’s Workplace Happiness Conclave is focused on creating the body of knowledge on Workplace Insights on Creating a Happy Workplace. Some of the key highlights of the program are mentioned below. Join the Workplace Happiness Conclave and engage in knowledge exchange with other participating leaders.
|08:00 AM – 9:00 AM||Breakfast & Registration|
|09:00 AM – 9:30 AM||Welcome Address & Theme Introduction
|09:30 AM – 11:00 AM||CEO Dialogue on Inclusive Leadership|
|11:00 AM – 11:30 AM||Networking Tea|
|11:30 AM – 01:00 PM||CHRO Dialogue on Achieving Happiness at Work
|01:00 PM – 02:00 PM||Networking Lunch|
|02:00 PM – 03:30 PM||CHRO Dialogue on Culture of High Performance & Learning|
|03:30 PM – 04:00 PM||Fireside Chat with Business Leader|
|04:00 PM – 04:30 PM||Networking Tea|