written by Mika Kim
In 2015, Place of the Future will release its Happy Companies to Work For list where we’ll compile results from the Worker Happiness Index to provide a ranking.
What constitutes a Happy Company or furthermore, what does it mean to be certified as a Happy Company, you may ask.
The origin of the indicators used in Place of the Future’s Worker Happiness Index are derived from those practiced by the Royal Government of Bhutan to achieve a goal of having sustainable economic growth.
By adopting the concept consisting of four pillars: 1) fair socio-economic development, 2) conservation and promotion of a vibrant culture, 3) environmental protection, and 4) good governance into the Worker Happiness Index that is further elaborated into ten (10) performance outcomes: 1) social support, 2) psychological well-being, 3) health, 4) financial well-being, 5) time balance, 6) community vitality, 7) culture, 8) work, 9) environmental quality, and 10) organizational structure/governance, the WHI takes a unique approach to creating a new economic paradigm in defining success in the corporate smart growth development today.
The WHI produces a single number index across thirty-eight (38) indicators that measures four (4) business outcomes: 1) productivity, 2) employee retention, 3) client/customer satisfaction, and 4) profitability. These outcomes lead to its qualification of whether it meets the minimum standards of a Happy Company, which is based on exceeding an average index of 80 out of 100.
So why is that important? Studies show that happiness raises nearly every business outcome. At Place of the Future, we’ve seen improvements in employee retention, increase in work performance and reduction in absenteeism and presenteeism, creating a return on investment for the company’s bottom line.
Be an adopter. Be a differentiator. Be a Happy Company. Nominate a company today!