The Unassuming Economist

From a new VOX post:

“A growing number of companies place a high priority on the wellbeing of their workers, assuming that happier workers will lead to improved productivity. This column examines this link based on a meta-analysis of independent studies accumulated by Gallup, covering the wellbeing and productivity of nearly 2 million employees and the performance of over 80,000 business units, originating from 230 independent organisations across 49 industries in 73 countries. The results suggest a strong positive correlation between employee wellbeing, productivity, and firm performance.”

“Figure 1 presents our main finding – it shows true score correlations between employee wellbeing (measured as employees’ satisfaction with the firm as a place to work), employee productivity, and firm performance as means, taken across all industries and regions. We focus on four key performance indicators, arguably the most important ones from a business perspective: customer loyalty, employee productivity, business unit profitability, and staff turnover.”