21st century survival will largely be a function of an organisations ability to place the well-being of all stakeholders at the heart of its strategic objectives – Andrew Stead
Due to the critical importance of our work in many areas of life, not least for governments, the scientific understanding of how it relates to our happiness is extensive. The economic argument for happiness and workplace well-being in organisations is robust.
It's my belief that corporations who are unable to suitably promote the engagement and well-being of their employees will be unable to hire or retain the quality of workers they will need to compete in the challenging economic conditions of the next decade.
Unemployment is highly correlated with low levels of life satisfaction - Winkelmann & Winkelmann, 1998; mental health problems - Evans & Repper, 2000, and the opportunity cost of ‘flourishing’ - Huppert & Whittington, 2003
Upside: Performance, Absenteeism and Turnover. People who are happiest at work are 47% more productive, take 300% less sick leave and intend to stay about 200% longer in their jobs – source: Pryce-Jones, 2005
Financial Costs: Anxiety and stress cost the UK economy an estimated £26 billion each year - MIND, 2011. Over one third of people drawing incapacity benefits have a mental health condition, costing central government around £12 billion annually - UK government, Department for Work & Pensions, 2006. Approximately 13 million working days are lost each year to stress – Health and Safety Commission 2004. Low level mental illnesses costs the NHS several billion pounds each year through patient appointments and treatment - NHS, Boorman Report, 2009
Here is a video with one of my tools - #5 Find Balance from my workshops and programmes detailing more evidence of the benefits of happiness at work and general workplace well-being. We may know this intuitively, unconsciously, but it needs to be made explicit and conscious. Hence we will improve not merely our work places, but also our world at large.
For more information about Your Daily Bread programmes within organisations, contact me directly at andrew@andrewstead.org
Interested in more video content? Click here to watch the medtitation in the plane that will help you overcome fear of flying and relax before the flight!
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Andrew@andrewstead.org
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