Why happy companies always outperform their competitors
A happy workplace is more successful overtime because it increases positive emotions and well-being. And well-being derives from simply one place – a good culture. When organizations develop positive, virtuous cultures they achieve significantly higher levels of effectiveness; including financial performance, customer satisfaction, productivity, and employee engagement. Further upsides to a happy workplace are:
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Improved relationships – Having better relationships amplifies people’s strengths and creativity
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Resilience – This enables employees to bounce back from challenges and difficulties while buffering against negative experiences such as stress, and;
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Attracting the best talent
A Harvard study highlights that 70% of a company’s culture comes down to its leaders. The same research also states that culture has a 30% impact on the bottom-line. Therefore, if you’re a leader in a business, it is well worth investing in your people’s well-being by creating a positive and happy place to work.
If you are interested in more numbers, facts and learn how to positively influence the culture of your business, please read this article from the Harvard Business Review.
