Communications of the ACM
Employee Happiness and Business Success Are Linked
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Staff is an employer's most important asset. Many managers have intoned this mantra over the years but plenty of employees have probably thought that executives place a higher value on the machines on the factory floor or cash in the bank.
That impression can only be reinforced when executives refer to the need to maximize "shareholder value." If keeping equity investors happy is a company's main priority, then employees fall into a lesser category.
A new study, "Employee Wellbeing, Productivity, and Firm Performance," analyzed 339 independent research studies, including the wellbeing of 1,882,131 employees, and found a significant, strong positive correlation between employees' satisfaction with their company and employee productivity and customer loyalty, and a strong negative correlation with staff turnover.
From The Economist
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