WASHINGTON–Credit unions that want employees who love their jobs—and better serve members—will likely need to make some changes in their work cultures, according to one new report.
New research from the SHRM Foundation, which joined with Globoforce in its report, is based on work down by Christine Porath, a professor of management at Georgetown University and the author of both Mastering Civility and The Cost of Bad Behavior.
As Michael Schwantes noted in writing on Inc.com, the 51-page report basically boils down to this: If companies desire more productive employees who love their jobs (which clearly leads to business outcomes), they will need to usher in the new era of human and caring workplaces.
“More specifically, as the report's title suggests, leaders need to create a culture in which employees not only succeed but also thrive,” observed Schwantes. “The volumes of research found in this report profoundly reveal that when people thrive at work, their job performance improves; they go above and beyond the call of duty.”
According to the report, "A thriving work force means greater engagement of each employee's physical, cognitive, and emotional energies," which then spur the employee's feelings of happiness and purpose.
The report suggests that when employees receive the valuable benefits of vitality, learning, good health, effective leadership, and positive work-life balance, the whole organization thrives as well.
Schwantes offered this analysis of each of the five benefits outlined in the report.
1. Vitality
The first characteristic of a thriving employee is vitality -- he or she feels energetic, passionate, and alive at work. Employees who experience vitality will spark energy and productivity in themselves and others -- it's contagious. In a separate HBR article by Porath, she says, "Companies generate vitality by giving people the sense that what they do on a daily basis makes a difference."
But vitality alone won't do the trick and can even be damaging. Porath said it has to happen in unison with the next characteristic of a thriving employee -- learning.
2. Learning
Thriving employees seek a career path. They look for opportunities to learn new things and acquire new skills, and access information to help them get better at what they do. They want to experiment with new ideas to propel their learning forward. When given the freedom, a cycle of growth begins and is self-perpetuating. One of the mechanisms to create opportunities for learning is feedback. By resolving feelings of uncertainty, feedback keeps people's work-related activities focused on personal and organizational goals. "The quicker and more direct the feedback, the more useful it is," states Porath.
3. Health
The report states, "Thriving employees tend to be healthier, reporting fewer physical complaints, far fewer doctor visits, and less burnout--all of which translates to lower health care costs and greater sustainability." In fact, healthy and thriving workers experience 125% less burnout (self-reported) than their peers. They were also 32% more committed to the organization and 46% more satisfied with their jobs.
4. Effective leadership
Thriving isn't just for employees; bosses benefit as well. From the report: "In a study of executives across different industries, thriving leaders were rated 17% more effective than leaders who reported lower levels of thriving. Employees described thriving leaders as role models who take initiative and empower others. Such leaders' energy is contagious."
5. Work-life balance
An employee thriving at work will thrive in his or her personal life as well and vice versa. The report states, "Thriving in nonwork activities seems to build up resources that people bring to their work." Companies and HR professionals hold the key to fostering a more caring, human workplace where their people are given more flexible work options and autonomy to improve their well-being.
The study found that white-collar employees who thrived were reported to be:
- 32% more committed to their job
- 72% more satisfied with their job
- 1.25 times less burned out
Blue-collar employees did even better. They were:
- 37% better on a team
- 89% better on innovation
- 39% better in a safety performance
- 79% more committed to the organization
“From a branding and recruitment standpoint, especially with Millennials, a human workplace will attract good talent, ultimately leading to wins for all stakeholders,” wrote Schwantes.