Happy employees are more productive. Economically, this can make a really big difference.
‼️ Unhappy employees will cost the US economy USD 1.9 trillion in 2023 due to reduced productivity, according to a Gallup study. Globally, the figure is USD 8 trillion.
Insane, isn't it? The figure for the US is not far off half of Germany's GDP, just for comparison (the equivalent of USD 4.12 trillion, 2022). US GDP amounted to around USD 25 trillion in 2022. Global GDP was just under USD 95 trillion, which means that the productivity loss worldwide would correspond to just under 8.4% of economic output.
Employee satisfaction is therefore a huge determinant of productivity and prosperity. According to Gallup, it's about relatively mundane things: since the pandemic, many employees no longer understand what exactly employers expect from them. The researchers recommend weekly meetings with employees and advice on how they can collaborate better with each other. In my experience, this also makes sense in order to sharpen the understanding of tasks and roles. There are more tips, but that's for another time.
Employee satisfaction is clearly also part of the major skills shortage problem. After all, the more productive the existing skilled workers are, the less of a shortage we have. And satisfaction plays a major role in productivity. So let's make sure that employees are satisfied. This applies both to the national economy and to the individual company level, where satisfied employees not only mean more productivity, but also less churn.
So: Satisfied employees equals less shortage of skilled workers. Perhaps I should refer again to my post, according to which most German workers are dissatisfied with their salary...
