Workplace

How to Truly Satisfy Your Employee, According to Harvard Research

Beyond paychecks and office perks, a Harvard professor reveals a profound truth. The key to contentment isn't material rewards but the acknowledgment of one's efforts. Dive into why recognized accomplishment trumps all other incentives.

September 2, 2023
Mohit Sahni
How to Truly Satisfy Your Employee, According to Harvard Research

In the corporate maze, there's always a buzz about what truly keeps employees ticking. Is it the hefty paycheck at the end of the month? The fancy job title? Or perhaps the alluring office perks like free lunches and game rooms? But what if the real secret to employee happiness isn't found in any of these? 

What if it's something more fundamental, more intrinsic? According to a Harvard Business School professor, there's one standout factor that holds the key to employee contentment. And no, it's not about the size of their wallet or the view from their office window. It's about being recognized for their accomplishments, about knowing that their work truly matters.

The True Value of Employee Happiness

When you picture a thriving workplace, what comes to mind? Perhaps it's state-of-the-art facilities, innovative projects, or impressive revenue charts. But beneath these tangible indicators, there lies a more profound metric, often overlooked: employee happiness.

It's not just a feel-good factor. Employee happiness is a potent business catalyst. Study after study highlights a simple truth: happy employees work harder. It's not about clocking extra hours but about the quality, creativity, and dedication they bring to each task. Their enthusiasm becomes infectious, elevating team morale and driving projects forward with a zest that's hard to replicate.

Moreover, happiness isn't just about boosting performance in the present. It has long-term implications. A content employee is more likely to stay, reducing turnover rates and the associated costs of hiring and training new personnel. They become brand ambassadors, their satisfaction radiating beyond office walls to potential clients and recruits. And here's a kicker: happiness makes people functionally smarter. It's as if joy fine-tunes the brain, enhancing decision-making, problem-solving, and innovative thinking.

Decoding Happiness: Myths vs. Reality

The quest for the secret sauce of employee happiness often takes us down some well-trodden paths. We think, surely, a fatter paycheck will spark joy. After all, doesn't everyone want to earn more? Or perhaps it's about status, with high-flying job titles and corner offices being the coveted trophies. Maybe it's the culture – those hip workplaces with bean bags, team outings, and no-jerks-allowed policies.

But here's the twist. Dive into the data and these commonly held beliefs start to crumble. Higher pay and elevated job titles, while appealing on the surface, don't correlate directly with increased happiness. Whether you're in a blue-collar role or a white-collar one, the happiness meter tends to hover around the same mark. Similarly, the nonprofit versus for-profit debate? It's a draw when it comes to job satisfaction.

Harvard's Golden Nugget

When it comes to unlocking the mystery of employee contentment, Arthur Brooks, a renowned professor from Harvard Business School, offers a refreshing take. It's not about the paychecks with many zeros or a corner office view; it's about something profoundly human. Brooks insists that the cornerstone of happiness in the workplace lies in a "sense of recognized accomplishment." It's about feeling that your contributions at work don't just vanish into the ether but are noticed, valued, and celebrated.

In a candid conversation with HBR, Brooks delves deeper, answering the pivotal question: What kind of jobs truly make employees happy? The surprising revelation? Neither higher pay nor a grandiose title guarantees happiness. Blue-collar or white-collar, for-profit or nonprofit - employees across the spectrum report similar levels of job satisfaction. 

So, if money and status aren’t the magic potions, what is? It boils down to a sense of achievement and the recognition that comes with it. When employees feel that they're genuinely making a difference and that their achievements are acknowledged, that's when they truly shine.

This insight reframes our understanding of job satisfaction. It’s not about external accolades but an internal recognition of value. Employees crave the validation that their work has meaning, that they're driving change, and that this change doesn't go unnoticed. As Brooks succinctly puts it, happiness stems from "earning success" and feeling that you're "creating value" both in your life and in your professional journey.

The Universal Craving

Employees, regardless of their role or rank, have an innate desire to be seen, acknowledged, and validated. This isn't just about vanity or seeking praise. It's a deep-rooted psychological need that ties back to our very essence as humans. When our efforts are recognized fairly, it sends a signal that we're valuable and that our contributions matter.

Arthur Brooks' insights shed light on this very sentiment. He suggests that beyond the trappings of high pay or lofty job titles, what employees truly crave is a transparent and genuine acknowledgment of their contributions. It's about feeling that their efforts are moving the needle, making a difference, and being noticed for it. When there's a clear and direct link between what an employee does and the recognition they receive, it fosters a sense of purpose and belonging.

Yet, many organizations miss the mark here. They pour resources into bonuses, perks, and other tangible rewards, overlooking the simple act of genuine acknowledgment. But the truth is, when employees see their hard work reflected in the company's success and feel a personal connection to that achievement, it creates a powerful motivation loop. 

It's a reminder that their role, no matter how big or small, has a meaningful impact. Happiness, in this context, springs from the simple joy of knowing one's work resonates and leaves a mark.

When Purpose Outshines Pay

When it comes to rewarding employees, many companies instinctively reach for the financial lever, thinking bonuses or raises are the ultimate tokens of appreciation. While fair compensation is undeniably important, it's not the sole ingredient in the recipe for genuine job satisfaction. 

Adam Grant's research at Wharton drives this point home. In a compelling study, call center workers who heard firsthand how their efforts changed someone's life saw a whopping 20% jump in revenue. It wasn't a bigger paycheck that fueled this surge, but the profound realization of the impact of their work.

So, before you consider adding another zero to a bonus or installing the latest office gadgetry, take a moment to reflect on the essentials. Do your employees genuinely see the value of their contributions? Do they feel acknowledged and appreciated for the difference they make? In the quest for a happier workplace, it's clear: a sense of purpose and genuine recognition far outweigh the allure of monetary rewards. Meaning, it seems, truly does trump money.

Emotional Wellbeing

Riding the Wave of Inflation: A Guide to Investments

November 11, 2022
Usha Mallya
Riding the Wave of Inflation: A Guide to Investments

Inflation is a long-term pattern of rising prices across the economy yearly. Inflation rates indicate the rate of erosion of the value of an investment over time as well as the loss of purchasing power. Investing in assets requires a return on investment consistent with their living standard. 

To overcome the effects of inflation on your investment, you must have financial planning and knowledge. Here are a few things you should know. 

Inflation: What Causes It?

Inflation occurs when the demand for an item or service exceeds the supply of that good or service. This is referred to as demand-pull inflation, and it causes price increases. 

Inflation is also caused by a rise in the cost of producing products and services. As the cost of manufacturing an item rises, manufacturers raise the selling price in order to achieve or maintain a specified profit. This is referred to as cost-pull inflation.

Here's a chart demonstrating how a lakh's value decreases over time to help you comprehend this better.

‍Inflation: What Causes It?

Financial vs Physical Investment

Physical assets can be felt, seen, touched, or held, such as real estate, precious metals, jewellery, plant and machinery, vehicles, tools, etc. These assets must be maintained, repaired, and upgraded, which can lead to expenses.

An intangible asset, such as shares, bonds, deposits in banks, accounts receivables, goodwill, copyrights, patents, etc., cannot be seen or touched, except for the records proving ownership of the asset, for example, shares, bonds, deposits in banks. The value of financial support does not depreciate or diminish with time. Nevertheless, depending on market conditions, the value of a financial asset can appreciate or depreciate.

Asset Classes and Inflation

The value of liquid assets tends to rise less over time than the value of other types of assets since inflation affects them similarly. Because of this, liquid assets are more susceptible to inflation's effects. The larger economy tends to retain fewer liquid assets when inflation rates are high.

Although illiquid assets can generate interest and grow in value, inflation also affects them. Investing in stocks, bonds, and mutual funds is one of the best ways to protect savings against inflation. In times of high inflation, people often spend their liquid assets on consumer goods or invest them in interest-paying assets.

Systematic Investment in Equity Mutual Funds

Mutual Funds offer a Systematic Investment Plan (SIP), a means of investing a fixed amount at regular intervals, say once a month or once a quarter, instead of making a lump-sum investment. Instalments could be as low as INR 500 per month and are similar to recurring deposits. Moreover, it is convenient since your bank can give you standing instructions to deduct the monthly amount.  

Here are some examples of the power of compounding

‍Systematic Investment in Equity Mutual Funds

Three Golden Rules of Investment

Start Early

It is recommended that you start early in order to gain greater financial wellbeing and to maximise your returns on investment. If you allow your investment portfolio to generate returns over time, your returns will essentially create more returns. In technical terms, this is called compounding, proving that even small investments can accumulate into large sums over time.

Invest Regularly

Regularly investing rather than attempting to time a lump sum investment can help you become a more disciplined investor. Ultimately, you must invest no matter how high or low the price is. As a result, investing becomes less emotional, and you can put your money to work more quickly.

Invest for Long Term

The relationship between volatility and time is an advantage of long-term investing. The volatility of investments held for a more extended period tends to be lower than the volatility of assets held for a shorter period. The longer you invest, the more likely you will survive market downturns.

Investments with their risk vs return potential

Three Golden Rules of Investment

Conclusion

If the returns on an investor's assets are less than the rate of inflation, even if they show profits, they will lose money. Additionally, individuals should ensure that their income increases at least as much as inflation; otherwise, they are technically earning less than they would otherwise and losing financial stability.

Corporate Wellness

Desk Duty: Why Sitting Can be as Deadly as Smoking

October 28, 2022
Dr. Nikhil Latey
Desk Duty: Why Sitting Can be as Deadly as Smoking

Motion is lotion, isn’t it? Sitting isn't part of our design. You may not think of your office chair or the couch you enjoy binge-watching on when you think of something that might pose a health risk. When you sit for long periods of time, the body deteriorates, according to Dr Joan Vernikos, author of Sitting Kills, Moving Heals.

How Sedentary Are We?

Around three million avoidable deaths are caused by physical inactivity each year (6% of all fatalities). Among noncommunicable illnesses, it is the fourth leading cause of death.

The following studies demonstrate how sedentary we are:

  • According to PubMed Central, 52.1% of participants in the study were not physically active. Studies conducted in India and abroad have reported similar findings. 
  • It was reported that 56.8% of participants in a study conducted in Punjab, India, were not sufficiently active as recommended by the WHO. 
  • According to data from the Indian Council of Medical Research study, Chandigarh has a 66.8% prevalence of physical inactivity.
  • According to a study, 49.7% of adults in southern India were physically inactive.

Sitting and Exercising

Sitting Is the New Smoking
Photo by Gabin Vallet on Unsplash

Marathon sitting sessions cannot be negated by exercise. Lifestyle fitness, whether it is exercise in the gym, running, yoga, pilates, or another form of exercise, will not make you healthier if you sit for long periods of time. Instead, you are more likely to live a happy healthy life if you sit less during the day.

Sitting for Long Periods of Time.

Sitting for long periods of time can actually alter your metabolism. Sitting for just 30 minutes slows down metabolism by 90%. The large leg and gluteal muscles can weaken and waste when sat for long periods of time. 

With weak glutes, the legs are less stable and have less power. If you sit consistently with poor posture, it can also result in back problems. Even your sciatic nerve, which runs from your lower back to your toes, may be irritated by the back, hip, and buttock muscles together.

When you spend a lot of time hunched over a keyboard, your neck and shoulders can become stiff and painful. As you do this for hours and hours, you reduce your flexibility and movement, straining your neck and upper back muscles.

While scrolling through social media on their phones, people sit in compromised postures that can be detrimental to their rotator cuffs, wrists, and forearms.

Heart Health and Sitting

Sitting Is the New Smoking
Photo by Jon Flobrant on Unsplash

Heart disease is more likely to develop if you sit for a long time each day. Diabetes type 2 and obesity, two major risk factors for heart disease, can be caused by sitting, which can lead to insulin resistance. In addition, during a heart attack, the blood flow slows down, which causes the blood vessels to accumulate fatty acids.

Heart disease results from disruption of vascular function. According to a study published in the Annals of Internal Medicine, there is an independent relationship between prolonged sitting time and deleterious health outcomes, regardless of physical activity. 

You still have a risk of heart disease and death even if you clock in an hour of intense physical activity a day. This is especially true for those who work continuously without taking a break; therefore, companies are focusing more on employee wellness programs to assist them to build healthy working habits. 

"Sitting is the thief of health." - Steve Jobs

Depression and Anxiety

We don't understand the relationships between sitting and mental health as well as we do the ties between sitting and physical health, but we do know that those who sit more are more likely to suffer from anxiety and depression.

This might be due to the fact that those who spend a lot of time sitting lose out on the benefits of workout and fitness. If this is the case, getting up and moving may be beneficial.

Living a Movement-Based Lifestyle

Here are a few ways you can incorporate physical activity into your daily routine:

Make sure you take frequent breaks. After 30 minutes of continuous sitting, get up and move around

  • When possible, take the stairs instead of the elevator
  • Stop texting your colleagues and walk over to them instead
  • If you can, enjoy a short walk during your lunch break
  • Consider switching to standing and sitting-friendly height-adjustable desks. 

 You will have increased energy levels and endurance once you become physically active, and your muscles and bones will remain strong when you are physically active.

Final Words

It appears that stretching your muscles breaks up long periods of sitting, so strive to incorporate more exercise into your day. Every once in a while set a timer to remind yourself to get up and walk. Stand up while you're taking a call. You may want to consider an adjustable standing desk if you have a PC. Sit on a stability ball rather than an armchair while watching TV to keep yourself upright. Exercises to relieve joint pain are also recommended.

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