The World Happiness Report shows that Scandinavia is filled with happy, working people. How can we follow in their footsteps to create better workplaces?
Scandinavia has done it again, leading the world in progressive ideas Denmark, Sweden, Germany and Norway fall in 3 of the most fortunate categories for the well being of their citizens and GDP.
These four respective countries are ranked in the Top 15 of the worlds happiest, best workers and interestingly enough, they also have the most generous social welfare program. The correlation is clear folks, social responsibility pushes countries and companies forward fiscally. Across country borders and successful company lines workers are said to work the hardest, be the happiest, and work-related stress is down.
1. Social Welfare
“When it comes down to it, these companies assist their employees with life outside of work so that those burdens are not over their head when it is time to be productive for the company.”
Google, Business insiders #1 place to work, reported that their experienced median pay is $140,000. Not only that but, the company provides workers with perks like nap pods, laundry services, and free food at no cost to the employees. And for a cost, the company provides on-campus car and bike repairs. Business Insider also reports that 86% of Google employees say that they are either exceedingly satisfied or relatively satisfied with their job.
Tech companies aren’t the only ones looking out for their employees, Goldman Sachs, a company not thought to be a pillar of liberal ideals, has shown its commitment to the LGBTQ community, offering coverage for gender reassignment surgery since 2008.
Starbucks offers full tuition reimbursement for employees taking on more education, investing in the futures of their employees leaves them appreciative and in a spirit of working harder for their company.
When it comes down to it, these companies assist their employees with life outside of work so that those burdens are not over their head when it is time to be productive for the company. That is, the more you do for your employees the more you can extract out of them.
2. Culture Matters
“Company culture not lining up with the values of the employee is responsible for nearly ¼ of the reasons why employees begin looking for new jobs.”
According to a Korn Ferry poll of just about 5,000 professionals, company culture not lining up with the values of the employee is responsible for nearly ¼ of the reasons why employees begin looking for new jobs. In a United States where 62 percent of citizens want federal government to ensure health care for all, 53 percent of all Americans say that raising the minimum wage will help workers, 62 percent of Americans favor free college tuition, combined with growing visibility of how much income inequality, it is easy to see if these things are not reflected in their work lives why they would look for employment elsewhere.
3. Workplace That Works for Women
“Gender-diverse business units in the hospitality company show 19% higher average quarterly net profit”
First of all, hire more women. Studies have shown that gender diversity provides stronger financial dividends. According to Gallup, “Gender-diverse business units in the hospitality company show 19% higher average quarterly net profit”. The perspectives and viewpoints between women and men differ, so, diversity naturally will produce various ideas.
The obvious and hot button topic of equal pay probably shouldn’t have to be said but, here we are. White women make 77 cent on the dollar of what white men make and women of color make even less than. Simply, pay women what they’re worth, equally and consistent over time with their male counter parts.
The most successful countries can serve as a guide for companies. Countries that decided that the old ways of working weren’t good for its citizens and in turn good for their country made changes and successful countries that want to grow even more will follow in their footsteps.
What plans do you have to make you company more socially responsible?
By Danae Floyd & Katelyn Trela
Published: Dec 13th 2018