Happy employees are more creative, provide better service and work more efficiently. Businesses often forget about the culture, and ultimately, they suffer for it because you can’t deliver good service from unhappy employees.
— Tony Hsieh, CEO, Zappos.com, Inc. (over $1 billion in gross annual sales)
ROI of Happiness Training
I’ve always said that “the greatest success is living a happy life.” There are many personal and professional benefits of happiness training, not the least of which is happiness itself.
Here are some of the benefits of living a happy life and supporting happiness in the workplace with happiness training.
Based on a ton of research in the relatively new field of positive psychology (since 1998), compared to unhappy people, happy people:
- live an average of 9-10 years longer
- are healthier
- are more empathetic
- are more fun to be around
- have better relationships
- make more money over the course of their lifetime
- are more optimistic
- are more creative
So what is personal happiness training worth to you? How can you put a price on your personal happiness? What would it be worth to know how to live a happy or happi-ER life? It’s priceless (IMHO).
A 2009 study of an auditing and tax accounting firm, was performed as they approached the most stressful tax season in decades after the 2008 bank crisis.
They were tested before, 1 week after, and 4 months after using “a battery of standard metrics including life satisfaction measures, perceived stress, social support, perceived effectiveness at work and work optimism.”
They found that after a 3 hour positive psychology (happiness) training, the effects did not dissipate like so many ‘motivation’ seminars that offer only a temporary high. Every metric improved and held for the entire 4 months.
In addition to the personal benefits of happiness training listed above, compared to unhappy people at work, happy people at work:
- are more productive
- are more motivated
- take less sick days off
- are more cooperative (better team players)
- deliver outstanding customer service
- are better at communicating
- are better problem solvers
- take more personal initiative
- leave the company less often, especially when supported by a culture of ‘happiness in the workplace’
In Business… (very conservative estimates)
A 1% increase (very modest) in productivity would bring a benefit of $400 per employee per year, based on the national average salary of $40,000 assuming 40% overheads.
A company with just 50 employees would realize a benefit of $20,000 annually.
A company with 5,000 employees would realize a benefit of $2,000,000 annually.
Happy people are healthier than unhappy people. A reduction in sickness absence by just 1 day per year per employee would bring a benefit of $167.00 based on the national average salary of $40,000 assuming 240 working days.
A company with just 50 employees would realize a benefit of $8,333 annually.
A company with 5,000 employees would realize a benefit of $833,333 annually.
Happier employees don’t quit the company as often, especially when supported by a culture of ‘happiness in the workplace’. A mere 10% reduction in turnover would bring a benefit of $256 based on the assumption that the cost of recruiting, training and covering someone leaving is approximately equivalent to 40% of their annual salary – here taken to be $40,000.
A company with just 50 employees would realize a benefit of $12,800 annually.
A company with 5,000 employees would realize a benefit of $1,280,000 annually.
Total annual benefit realized for a company with just 50 employees: $41,133.
Total annual benefit realized for a company with 5,000 employees: $4,113,333.
The real question is:
“What is it costing you and your company to NOT get happiness training?”
Best presenter I’ve ever experienced and I’ve been going to workshops and conferences for 20+ years! Organization, breadth of knowledge, presentation, ability to communicate with participants, ability to “shift gears” and respond effectively to any and all questions and without getting behind schedule. The guy’s brilliant and just as personable!
— Steve Button, Seattle, WA (see more attendee comments)
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