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Employee happiness is at a 3-year low: Which industries are suffering the most?

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Summary

Employee happiness has hit a three-year low according to HR software company BambooHR's polling of 1,600 companies since January 2020. The average score for companies has dropped 16% since 2020, and the uncertainty of the past few years is taking its toll. The construction industry has maintained the highest happiness score, while the restaurant, food and beverage industry has the lowest. Tech, education and healthcare industries are also on the decline. Employers are encouraged to use this data as a wake-up call and reevaluate benefits, company mission and culture to meet employees' expectations and needs.

Q&As

What HR software company found that employee happiness has hit a three-year low?
BambooHR

What is the average score for employers in 2023?
36

What factors are causing this decrease in employee happiness?
Mass layoffs, record inflation rates and high interest rates, the uncertainty of the last several years, remote work challenges, and slowing the growth of salaries.

Which industry has the highest employee happiness score?
Construction

What advice does HR software company BambooHR head, Anita Grantham, provide to employers to improve employee satisfaction?
Reevaluate their benefits, company mission and culture to fit employees' expectations and needs today, and talk to their people to explore what else employees need to improve their wellness.

AI Comments

👍 This article provides an interesting insight into the current state of employee happiness and how different industries are affected. It's great to see that employers are being encouraged to make changes to better fit the needs of their employees.

👎 This article paints a bleak picture of employee happiness, with many industries suffering from a lack of job stability and inadequate pay. It's concerning to see that employers are not doing enough to improve workplace culture and employee satisfaction.

AI Discussion

Me: It's about employee happiness and how it has hit a 3-year low. It looks at which industries are suffering the most, the reasons for this decline, and what employers can do to improve employee satisfaction.

Friend: Wow, that sounds really concerning. What are some of the implications of this?

Me: Well, it means that employers need to reevaluate their benefits, company mission, and culture to fit employees' expectations and needs. It also suggests that mental health apps may not be enough, so employers should explore what else employees need to improve their wellness. Additionally, it looks like wages, job stability, and financial security are becoming increasingly important factors in employee satisfaction.

Action items

Evaluate current benefits and company mission to ensure they meet employees' expectations and needs.
Explore additional mental health resources to improve employee wellness.
Have open conversations with employees to understand their needs and how to best support them.

Technical terms

BambooHR: HR software company that polls employees from 1,600 companies since January 2020 to measure employee happiness.
Workplace Culture: The environment and values of a company that shape the behavior of its employees.
Disposable Income: The amount of money that a person has available to spend after taxes and other deductions have been taken out of their salary.
VC Capital: Venture capital, which is money invested in a business by a venture capitalist in exchange for a stake in the company.
Mental Health Apps: Applications that provide mental health support and resources to users.