Happy Employees = Healthy Profits

Happy employees can increase profit.  Many practice owners and managers assume that the key to productive staff is more money but that is only part of the story.  A study conducted at the University of Warwick [1] found that happiness led to a 12% spike in productivity, while unhappy workers proved 10% less productive.

The growing body of research around employee happiness and the link to profitability is persuasive.  It is simple – positive and happy staff are engaged, productive and committed to creating a positive environment.  Happy employees will result in less turnover, fewer patient complaints, increased productivity, lower error rates, better teamwork, and less stress which all lead to increased profits.

Creating a workplace filled with happy people isn’t all about salary increases.  In fact, a 2016 Gallup poll of more than 1 million employed U.S. workers concluded the number 1 reason people quit their jobs is a bad boss.  So, don’t start thinking that you can make people happy and more productive if you give them more money.

Instead here are 5 things you can easily do to change the happiness level in your employees and improve your bottom line.

  1. Don’t make promises you can’t keep. Broken promises will undermine trust.
  2. Provide consistent feedback. Use feedback as a teaching tool and deliver it objectively and fairly.
  3. Respect the skills that each employee brings to the practice. Ask them what is a better more efficient way for them to do their job and make sure you provide the best tools for them to accomplish what needs to be done.
  4. Share your dreams and goals for the practice. Your goals make their job safe.  People want to see the big picture and want to be involved.
  5. Positive feedback about a job well done, goals met or increased productivity will go a long way. Engaged employees are self-motivated to go above and beyond but they won’t do it day-after-day without some recognition.

[1] Oswald, A.J., Proto, E., and Sgroi, D. 2014: Happiness and Productivity. University of Warwick.

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