Friday, October 17, 2014

The Economics Behind Employee Happiness

Happiness is a valuable strategic asset for an organization’s entire ecosystem.

Happiness. For many, it is hard to achieve and even more difficult to define. Psychologists, social scientists, and even economists have studied happiness for years. One recent study conducted by University College London found that it matters less whether things are going well for an individual than whether things were going better than expected.
Happiness has also been elusive in the workplace, particularly in recent years as headcounts have been kept low and corporate leaders remain focused on driving higher rates of productivity and profits. Yet studies have shown that employees who are happy and engaged in their work are more successful and are more likely to deliver satisfying customer experiences.

What can organizational leaders do better to drive happiness throughout the enterprise? Jenn Lim is CEO and Chief Happiness Officer at Delivering Happiness, an off-shoot of Zappos.com. Here, she shares her views on the obstacles to achieving happiness in the workplace, along with steps that senior executives can take to drive change.

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