Mates not money make us happy at work

The most important factor in employee happiness is not money but friendship, reveals research by Chiumento, a multi-disciplinary HR consultancy. Seventy-three per cent of British workers cite good relationships with colleagues as the key reason they enjoy their job, while only 48 per cent cite financial reward.

Despite frequent reports of dissatisfaction with work at this time of year, it is not all doom and gloom according to the Chiumento Happiness Index, released this week. One quarter of employees describe themselves as very happy at work, while only one in five describe themselves as unhappy. But the unhappier an employee is, the more likely they will see money, or a perceived lack of it, to be an underlying cause of their unhappiness.

Key findings

• Women are happier at work than men: 82 per cent of women claim to be happy in their jobs compared with 78 per cent of men. Despite, or maybe because of the lack of women at the top of organisations, women feel more job satisfaction than men.
• At 85 per cent, those aged 55+ are the happiest employees, possibly because they have reached the pinnacle of their careers. Employees in their 40’s are the least happy of all age groups.
• Happiness declines the longer people stay with an organisation. Eighty-two per cent of people who have been with their current employer for two years or less are happy. This drops to 76 per cent of those who have been with their employer for 10 years or more, as the ‘honeymoon period’ ends.
• Overall, lack of communication from the top is cited by just under half of all respondents as being the main cause of unhappiness in the workplace but this rises to 71 per cent of very unhappy employees.
• Small businesses make employees happier: Eighty-six per cent of employees who work for organisations with between 20 and 100 staff feel happy compared with 78 per cent of employees who work in organisations with over 1000 staff.

The eight factors that make us happy at work – in ranked order
1. Friendly, supportive colleagues
2. Enjoyable work
3. Good boss or line manager
4. Good work/life balance
5. Varied work
6. Belief that we’re doing something worthwhile
7. Feeling that what we do makes a difference
8. Being part of a successful team

The eight factors that make us unhappy at work – in ranked order
1. Lack of communication from the top
2. Uncompetitive salary
3. No recognition for achievements
4. Poor boss/line manager
5. Little personal development
6. Ideas being ignored
7. Lack of opportunity for good performers
8. Lack of benefits

Sarah Chiumento said: “Business should not ignore the value of good relationships at work, where staff are respected and trusted, and enjoy a supportive workplace community. If organisations think a little more deeply about what employees really want and what will make them happy, they could reap the rewards. Happy employees will not only improve the working environment, but also increase revenue.”