The price of happiness? Just £476 per employee

Viking research reveals that employees in small businesses believe training and development, benefits such as flexible working, social events and regular company updates from bosses are as important as a pay rise.

By investing £286 on training courses and £190 on staff outings per employee, levels of happiness at work would increase by 35 per cent, according to analysis of the key drivers of happiness.

Viking polled more than 1,000 staff in businesses of no more than 50 employees across a range of sectors from financial services and IT to manufacturing and education to discover the biggest factors of being happy, or unhappy, during their working day.

Average costs were then put against three most consistently reported drivers – training, social outings and salary. Surprisingly the research revealed that training and social outings far outweigh salary. 

To gain the a 35 per cent increase in happiness amongst staff, employers must spend £476 on training and days out, compared to a pay rise of £5,000 which only yielded a three per cent increase.

Other findings from the research revealed that a third of employees are unhappy for more than half the working day, with 42 per cent say they are stressed and unmotivated.

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