Employee happiness at a financial institution

Happiness, or the concept of well-being can be traced back to the era of Aristotle (384 to 322 BC), Epicuruss (341 to 270 BC), John Locke (1632 to 1704) and more recently Ed Diener (DOB 1946), who played an integral part in the well-being revolution. People have very different ways in seeking happiness, whether it is closely associated to their personal life, the work environment or in society, they are constantly striving towards a goal of experiencing happiness at its purist form. Bursts of absolute joy and the purist form of immediate gratification cannot provide a path to finding happiness and well-being. The process is intricate and requires a variety of variables integrated into a combination of events and lifestyle experiences to culminate into an existence which produces a feeling of inner peace and fulfillment. Current research suggests that this is not an attainable state of existence, but human nature drives every individual to seek out a path to finding true happiness. The advent of the modern day economic crisis has changed the global environment to the extent where society is attempting to find a new norm to operate in. As a consequence, individuals are presented with new challenges which have forced them to re-evaluate their path to finding a balance in their lives. These changes have added new challenges to deal with and adapt to as new forces in the global environment start to shape a new tomorrow. People spend a large portion of their existence working to earn an income and to provide a means of supporting themselves and their dependents. The challenges they face are enhanced by the strains of working in stressful and pressurised working environments as their employers are also adapting to the changing global environment. Economic pressure is passed on to employees, as they are pushed to achieve the financial results demanded by shareholders. The last ten years has seen a wealth of research being conducted in the space of well-being and how it relates to business has gained popularity. The study of epidemiology refers to the study of components of human behaviour, which have a negative impact on individual functioning, like stress and anxiety disorders. Well-being in the workplace can counter these ailments and create a working environment absent of these negative afflictions which damage the productivity of a workforce. Employers who understand the positive aspects associated with well-being are in a position to effectively deploy their employees to produce improved financial results. The starting point for many organisations is to determine the current level of happiness in their businesses and to establish what variables are responsible for the current state of well-being. The main objective of the empirical study was to determine the level of happiness at a financial institution. The target population (354 potential respondents) is the regional office the financial institution based in Port Elizabeth, South Africa. Potential respondents received electronic requests by email, requesting their participation in the study. A total of 164 completed questionnaires were returned (46.33%) and analysed. Literature was reviewed to develop a conceptual model. Seven variables were identified as having an influence on employee happiness and have the potential to change employee well-being levels to aid organisations in their quest to adapt to the prevailing economic conditions and stress people have to deal with on a daily basis. The results from the study show that Work-life, Safety and Security, Growth and Development, Health, Recognition and Reward, Autonomy and Social Connectedness are all closely associate with employee well-being. Safety and security, Autonomy and Recognition and Reward have direct positive associations with the concept of well-being and have a significant relationship and potential to enhance well-being. The end result is that with the correct interventions by an employer, well-being can be measured and applied in the working environment. The correct combination of variables can have a positive impact in the work environment. A happy workforce can be an advantage to an organisation, their interventions can add great value to employees by increasing their commitment to the organisation and ultimately the business can benefit from their Interventions by seeing their efforts being realised in their financial results