This latest Happiness at Work Index, a regular barometer of workplace morale, shows that employee happiness has steadily decreased during 2011; with the percentage of workers reporting high levels of morale falling from almost half (46.6%) in January to two fifths (40.6%) in March to today’s figure of just 36.5%.
However, with continued announcements of redundancies and pay increases few and far between, workers are once again feeling the full impact of economic insecurity – borne out in recent high profile market fluctuation. Badenoch & Clark’s latest research finds that a further two fifths (39.3%) of UK workers are currently merely ‘somewhat’ happy at work.
In the latest survey, low morale is a consistent trend across workplaces in the UK geographically – with spikes in the East and West Midlands, where a third (36.4%, 31.6% respectively) reported low levels of happiness. Nonetheless, workers in London report above-average levels of happiness, with two-fifths (39.7%) saying they were either very or extremely happy in their current job. Relatively higher levels of investment and job creation in London, due in part to the 2012 Olympic Games, could account for the rise in happiness in the capital.
Nicola Linkleter, Managing Director of Badenoch & Clark said: “As the results of the Prime Minister’s initial research into the UK’s happiness demonstrated earlier this summer, happiness at work is as high on the agenda as ever before. With work cited as a ‘top five’ concern for UK citizens, workplace morale must be addressed as a critical business issue.
“The fluctuation in workplace happiness over this year can be attributed to a number of factors, including longer hours, increased financial strain at work and home, and reticence from senior management to invest in additional talent. Coupled with a lack of tangible job security, happiness at work is remarkably low, and must be dealt with as a priority issue.
“Organisations must now take action to create a working environment where employees are able to develop a sense that their work is both valuable and valued. Failure to do so may result in loss of talent, which in turn may lead to loss of potential revenue.”