From the Editor: Happy Employees = More Successful Business
Got unhappy employees? Think the lousy job market will prevent them from leaving, so what does it matter? Well, it might be impacting your bottom line.
Earlier this year, research conducted by Kansas State University, which examined the relationship between employee well-being and profits, showed evidence that happy employees make for a successful business.
"The benefits of a psychologically well workforce are quite consequential to employers, especially so in our highly troubled economic environment," said Thomas Wright, Jon Wefald Leadership Chair in Business Administration and professor of management at Kansas State, in a press release announcing the research findings. "Simply put, psychologically well employees are better performers. Since higher employee performance is inextricably tied to an organization's bottom line, employee well-being can play a key role in establishing a competitive advantage."
Other research supports this claim as well. Each year, the Russell Investment Group tracks stocks for companies that rank on the Great Place to Work Institute's "Great Places to Work" list, and found that the 100 "Great Places to Work" "outperformed standard market indices by a factor of two to three," according to the Great Place to Work Institute.
On page 17 of this issue, you'll find the list of this year's "Best Magazine Publishing Companies to Work For," as ranked in a study conducted by Publishing Executive in cooperation with independent research company Best Companies Group. This is the third year we've conducted the study, which was designed to recognize those companies that go above and beyond to create positive work environments, as well as to provide benchmarks to help other companies in the industry improve their workplaces.
Benefits, such as bonuses, 401(k) matching, extensive paid time-off, on-site fitness facilities and classes, adoption assistance and domestic partner benefits, obviously can go a long way in creating a sense of appreciation among employees, and helping employees balance their work lives with their personal lives.