managing employee happiness
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A FIRST-EVER STUDY OF THE COUNTRIES AND INDUSTRIES WITH THE MOST SATISFIED, LOYAL WORKERS
Managing Employee Happiness
HOW DOES YOUR COMPANY COMPARE TO ITS PEERS?Take a data-driven approach to attracting and retaining top talent.
WORKER HAPPINESS AS A BAROMETER OF ENTERPRISE HEALTHIt’s as important to forecasting future growth as financial metrics (e.g. cost of capital) or sales metrics (e.g. rate of new customer acquisition).
Closing the Happiness Gap
Why measure workforce happiness?
What is the Global Workforce Happiness Index?
MOST EMPLOYERS HAVE A LONG WAY TO GO
28%28 percent of employees in
the US and Canada have considered leaving their employer & moving to a
competitor within the last 12 months
Nearly half of US employees are confident they can find a job that matches their compensation level within six months of beginning a search.
In the tech industry, confidence is significantly higher; two thirds say they could find a better job in 60 days.
In 2018, 49 million more employees will be leaving their current employers compared to 2012 – representing 192 million employees worldwide turning over.
GLOBAL WORFORCE HAPPINESS INDEXThe index offers a country-by-country barometer of the workplace health of that market’s talent pool and an excellent benchmark by which individual
employers can map their own employees’ sense of satisfaction and loyalty.
The index is calculated based on three factors
Their stated sense of job loyalty
Likelihood of recommending their current employer
Employee satisfaction at their current job
GLOBAL WORKFORCE HAPPINESS INDEXTOP 10 COUNTRIES
Country Score RankBelgium 33,41 1Norway 32,32 2Costa Rica 31,98 3Denmark 31,53 4South Africa 31,51 5Austria 30,40 6Switzerland 30,35 7Greece 30,31 8Czech Republic 30,00 9Russia 29,93 10Sweden 29,68 11Finland 29,66 12Mexico 29,13 13Netherlands 28,83 14Germany 28,63 15Canada 28,49 16Chile 28,39 17France 28,28 18Argentina 28,08 19Australia 27,61 20
WORKFORCE HAPPINESS BY COUNTRYThe Global Workforce Happiness Quadrant helps visualize the challenges and opportunities by region. First let’s focus on the
implications of each quadrant.
WORKFORCE HAPPINESS BY INDUSTRY
1. Health Care Services
2. Media and Advertising
3. Tourism4. Engineering
and Manufacturing
5. Retail
BOTTOM 5
1. Legal Services2. Aerospace and
Defence3. Educational and
Scientific Institutions
4. Insurance5. Technology
Hardware & Equipment
TOP 5
Universum also examines happiness – a score that combines worker satisfaction, loyalty and willingness to recommend an employer – by industry. Companies can examine their own workers’ happiness scores related to the industry average. A positive gap means your company is more likely to retain employees. A negative
gap requires immediate attention. .
WHAT EMPLOYEES LOOK FOR IN AN EMPLOYER
l A creative and dynamic work environmentl Attractive/exciting products and servicesl Competitive base salaryl High future earningsl Innovationl Opportunities for international travel/relocation
• These attributes are attractive and associated with you by your target group, but not true internally
• ATTRACTIVE: Which attributes do you perceive as the most attractive? • CREDIBLE: Which of the following do you associate with your chosen employer(s)?• TRUE: Which of the following do you associate with each employer?
12
2015 | Young Professionals
Long-term aspirations | Top 3 career goals across markets
Top 3 career goals
Glo
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Rus
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UK
Sou
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Fran
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Turk
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Col
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Ukr
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Mex
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Pol
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Indo
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To have work/life balance 54% 62% 39% 60% 57% 59% 43% 63% 38% 60% 49% 59% 50% 62%
To be secure or stable in my job 42% 50% 61% 49% 39% 26% 33% 44% 62% 41% 64% 33% 33% 48%
To be competitively or intellectually challenged
35% 32% 44% 49% 49% 43% 18% 34% 47% 34% 28% 28% 29% 48%
To be entrepreneurial or creative/innovative 33% 29% 19% 28% 29% 28% 49% 42% 19% 44% 23% 48% 35% 24%
To be dedicated to a cause or to feel that I am serving a greater good
30% 33% 27% 42% 34% 32% 21% 28% 23% 24% 23% 31% 28% 48%
To be a leader or manager of people 30% 27% 24% 23% 30% 35% 43% 33% 23% 36% 19% 35% 32% 24%
To have an international career 27% 23% 18% 17% 22% 32% 45% 28% 23% 28% 13% 29% 38% 14%
To be autonomous or independent 22% 15% 26% 14% 16% 26% 17% 22% 29% 25% 19% 9% 20% 17%
To be a technical or functional expert 19% 20% 38% 11% 23% 17% 22% 4% 33% 6% 57% 20% 26% 11%
RECOMMENDATIONS FOR EMPLOYERS
Benchmark your employees against their country Happiness Index and Industry Insider
Ranking.First, find out how your organization compares to those within your industry and
country.
How large is the gap?
Does it affect your ability to recruit and retain employees?
BENCHMARK
It’s critical for organizations not simply to determine scores for their organization or
divisions, but how those scores compare to like-organizations – something we call the
Happiness Gap. Measuring the Happiness Gap of your employees, country-by-country, serves as an
early warning system for your organization:
Use it to drill down and understand the variables that cause your employees to feel differently from their peers inside other organizations and what your company
can do to close that gap.
ANALYZE FINDINGS
Once an employer figures out which factors can be controlled, decide which of these are recruiting drivers vs. retention drivers. Does your organization distinguish between the
two states?
SEPARATE ATTRACTION FROM RETENTION
A segment of your employee group may be satisfied with work, but also willing to make a change. How can you ensure your high-value,
high-performing talent continues to stay engaged and committed at work?
Developing plans to motivate high-value subsets of your employees is absolutely critical. Employers must map out their so-called Happiness Gap by region, gender and role, and then take surgical action to determine how best to satisfy and retain
your most valuable segments.
Certain subsets of your organization require extra attention due to their importance to your organization’s ability to innovate and grow.
ADDRESS RESTLESS EMPLOYEES
Tracking employee happiness is a barometer of your organization’s overall heath – as
important to forecasting future growth as traditional financial metrics such as cost of
capital. Treating talent-as-an-asset requires a massive shift for many organizations.
But taking a data-driven approach to employee satisfaction and engagement is an excellent place to begin.
EMPLOYEE ENGAGEMENT = STRATEGIC ASSET
Universum is the global leader in employer branding, delivering a full range of services in research, strategic consulting and brand activation.
We give employers the means and the tools to better understand, attract and retain talent.
For more information, go to www.universumglobal.com
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