Employment and Labour

“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” (Richard Branson)

Whether you call it May Day, Labour Day or International Workers’ Day, 1 May is an opportune time for businesses to consider and prioritise their workers.

Here’s why happy workers are a business’s greatest asset (and some ways to foster a happier workforce).

Business benefits of happy workers

Increased productivity. Various studies have shown that happy workers are more committed to company goals and up to 13% more productive.
Improved customer service. People who are happy at work provide better customer service, leading to higher customer satisfaction and loyalty.
Reduced costs. Lower absenteeism and improved worker retention mean substantially reduced labour costs.
Enhanced creativity and innovation. Happy workers buy into the big picture, offer creative solutions, take thoughtful risks, collaborate and are more likely to experiment.
Superior business performance. Gallup research shows that companies with happy workers can outperform competitors by up to 200%, and achieve up to 22% higher profitability.

5 ways to increase happiness in your workplace

Create a supportive work environment
Essential for employee wellbeing is a safe and supportive work environment in which diversity is valued and everyone is included and treated respectfully. This is also the foundation for a company culture that’s centred around teamwork, collaboration, job satisfaction, and accomplishment.
Balance job demands with resources
Providing sufficient and appropriate resources to ensure staff can meet their work demands means the work gets done efficiently and on time. It is also important that workers’ roles and responsibilities are clear and aligned with company goals, and that issues like time pressures and overwhelming workloads are addressed quickly.
Offer competitive compensation and benefits
Be sure to offer fair compensation packages as well as benefits that add value to employees, such as flexible scheduling and work arrangements, extra paid time off or even an onsite canteen, gym, or creche. Maintain this competitiveness through annual compensation reviews.
Recognise and appreciate all workers
It can be a really good idea to implement a formal recognition programme. After all, over 70% of employees say “feeling unappreciated” is the biggest driver of dissatisfaction. It’s equally important to make health and wellbeing a priority in your workplace and to encourage workers to share their feedback, ideas and concerns. Nobody likes to feel ignored!
Invest in professional development
Continuously provide the necessary training and tools for employees to perform effectively. Complement this by investing in professional development, and offering workers at all levels opportunities for upskilling and career advancement.

The bottom line

There is a real return on an investment in happy workers – and many easy ways to increase the level of happiness and engagement among your workers.

Call on us to assist with calculating optimal compensation packages and to provide financial and tax advice as you invest in your workforce’s wellbeing and happiness.

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact us for specific and detailed advice.

“The more tranquil a man becomes, the greater is his success, his influence, his power for good.” (James Allen)

The world of work has never felt less stable. Between high unemployment rates, a quicksand political environment, the gig economy and the introduction of new disruptive technologies (and tariffs!) almost daily, it’s no surprise that recent studies are showing people in 9-to-5 jobs no longer feel stable. A study by MyPerfectResume in 2024 found that four out of every five workers were afraid they may lose their jobs in 2025 due to technological advancements such as automation, artificial intelligence, and outsourcing. This was reinforced by the pandemic, when vast numbers of people were retrenched or otherwise lost their jobs.

This uncertainty is affecting the mental health of modern workers. And it’s lowering productivity and impacting businesses, creating a vicious cycle of instability. According to the Journal of Occupational Health Psychology, workers who feel insecure about their jobs report higher levels of burnout, less job satisfaction, and lower engagement levels. When workers are constantly worried about being let go, it typically affects their focus, creativity, and long-term commitment to their employer.

But does it have to be this way? Here are our tips for making your employees comfortable, more stable and ultimately, happier.

Honesty is the best policy

A little communication has been shown to go a long way to keep a workforce happy. Regular updates about company performance, future prospects, and any potential restructuring plans can help employees feel more in control and less fearful of unexpected layoffs. The Harvard Business Review (2020) found that organisations that maintain open lines of communication during times of uncertainty are able to reduce employee anxiety and build trust.

Teach a man to fish

Even if things are uncertain for your company, you should do your best to help upskill your employees and train them in new and exciting technologies. Focusing on continuous learning sends a strong signal that your company understands the modern environment and is planning for it. This doesn’t just lessen stress it also helps employees to feel that even if they are retrenched, they will still be well positioned to find new work.

Your business will benefit too: the World Economic Forum suggests that employers who provide opportunities for skill development, including training in new technologies and leadership, are more likely to retain talent and maintain higher levels of employee morale. What’s more, training staff can lead to tax incentives. Speak to your accountant (that’s us) if you aren’t already taking advantage of these breaks.

B is for balance

It may sound counter-intuitive, but hybrid work models are repeatedly being shown to be an effective way to boost employee morale and lower the stress related to job loss. A 2022 report by Gallup found that employees who have more flexibility in how, when and where they work are more satisfied with their jobs and feel more secure in their roles. A quantum workplace study found that 89% of employees were looking for hybrid or remote work. Having control over their lives in this area gives employees the confidence and mental stability they need to handle other stresses so they can deliver better at work.

Show the way

Job insecurity often stems from the fear that an employee’s current job offers no opportunities for advancement. A study by The Conference Board in 2018 showed that employees who are offered mentorship, leadership training, and a clear pathway to promotion are more likely to stay committed and engaged. Knowing that they are being eyed for future roles gives them the assurance that they won’t be first on the chopping block when the tough times arrive.

If any of these initiatives are beyond your current budgets, speak to us about helping you restructure your finances. After all, retaining good employees is much cheaper than trying to find new ones.

This Workers’ Day, Look After Your Business’ Greatest Asset