BUSINESS PSYCHOLOGY NEWS, VOL. 2001.1

DOES MONEY BUY HAPPINESS?
Research shows that money is like Prozac. Neither necessarily makes you happier, but they both help prevent different forms of unhappiness -- affording better mood, medical care, safer neighborhoods, less financial anxiety, relief the bills can be paid And of course, there's that immediate rush of satisfaction when we achieve a financial goal and get that new car, house, boat, computer, golf club But the high is relatively short-lived, with our level of subjective well-being returning to our usual, normal range.

In spite of the fact that most of us struggle to earn whatever we can, studies show that about 80% of Americans think the US is too materialistic and greedy, with increasing dissatisfaction with our 'work-and-spend' culture, according to Prof. Juliet Schor of Harvard University.

Married women, by the way, are happier at work than their husbands, but not surprisingly, men are happier at home than their wives (whether or not she works), for women have far greater home and family responsibilities than the average man.

Obviously, people with high self-esteem feel better about themselves than those with lower self-worth. Research has shown that we can change our self- evaluation and feel better.

More important, in terms of personal happiness than money, are such things as: marriage, good relationships with friends, family, coworkers; making a contribution; professional status; living fully, immersed in life; manifesting our potential; challenging our mind; exercising our body; developing our heart (caring, connectedness ) and spirit.

Interestingly, studies show that when executives who find they've reached their career limits and aren't getting promoted, adapt by working shorter days and spending more time with family, friends, sports and vacations, they feel stronger, calmer and clearer at which point they're often promoted.

 
CHARITIES WORTH SUPPORTING
While holiday time is the most common for charitable giving, in fact there's tremendous need worldwide, year-round. A few unusual charities well worth supporting include:
America's Second Harvest (800-771-2303, www.secondharvest.org) feeds 26 million people each year, rescuing perishable foods from hotels, restaurants, etc. and delivering them to Community Kitchens where the under-employed learn job skills while feeding the hungry.
Ashoka (703-527-8300, www.ashoka.org) supports visionaries for 3 years who create innovative ways to help the world (electricity to millions in Brazil, revolutionized India's elementary schools ).
Grameen Foundation (202-628-3560, www.grameenfoundation.org) supports the poorest of the poor through loans that help them begin small businesses. Their repayment rate is 97% with all monies being reloaned.
Heifer Project Int'l (800-422-0474, www.heifer.org) offers economic survival to people on 5 continents through animals that provide milk, clothing, fish farming
Lifewater Int'l (888-543-3426, www.llifewater.org) teaches people how to find and drill for clean water, which more than a billion people lack. Any amount helps both the receiver and giver.
 

PERKS FOR HIRING AND RETENTION

A study of 129 firms with up to 5,000 employees by Ceridian Employer Services, found the most commonly used perks to attract, reward and retain include:
Casual dress 82%
Flextime 60%
Personal development (coaching, classes ) 49%
Entertainment and discounts 40%
Food and drinks 36%
Telecommunting 27%
Fitness facility 16%
Children to work 7%

Especially in times of high employment, employers have to go out of their way to attract and retain valuable employees.

 

OFFICE GOSSIP

Studies show that a lot of work gets done in hallways, around the water cooler and the coffee pot. 39% of informal conversations are work-related, according to an OfficeTeam report. 9% are office gossip, 7% are about investments and mergers, 6% sports, 5% politics. 17% for about other topics -- humor, hobbies, families, vacations, personal problems...

Informal conversations help build valuable personal bonds between coworkers, and work friendships are one of the main reasons all of us go to work in the first place.

 
HONESTY AT WORK
Are employees ethical? A survey of 10,000 by Surveynet.com found that while 80% say that honesty is important, 25% would lie to their employer "if necessary," 15% admitted lying on a resume or job application, 8% said they'd lie to a client or customer, and 6% of managers admitted lying to their subordinates.

A Checkpoint Systems survey of 20,000 job applicants found that 28% said they might be tempted to steal from an employer, 22% said they associated with fellow employees who admitted stealing from the company, and 8% admitted they'd stolen money in the past 3 years.

Executives and other managers can create a value-based workplace that increases employee honesty. For example: treating employees with fairness and accurate information, valuing employees' work and personal needs, having a social cause that's genuinely supported. But when employees see the workplace as valuing profit before people or feel unfairly treated, then resentment and an 'everyone for themselves' philosophy grows, leading to greater self-interest and dishonesty. When people feel valued and fairly treated, pride, loyalty and honesty grow.

 
GOLF IS GOOD FOR YOU, IF

There's good news about golf as exercise. After studying over 100 golfers for five months, Finnish scientists found that playing 2-3 rounds a week led to striking health benefits golfers lost an average of 3 pounds, dropped an inch around their middle, increased their level of HDL (good) cholesterol, and lowered blood pressure. Unfortunately the key to golf's health benefits is walking the course. A typical 18 hole course is 3-4 miles long, plus side trips into the woods looking for the ball. 60% of Americans do no regular form of exercise and obesity is rapidly growing.

Meanwhile, proof of the benefits of mild and moderate exercise are increasing. It's been said that golf's a good walk, spoiled. But if you want the health benefits of golf, try going without the cart. Then, regardless of your score, your round will be a good walk, helping.

 
HOW EXECUTIVES FIND JOBS
Of the 9,509 executives who took place in Drake, Beam Morin's outplacement services last year, 64% found their next job through networking. Only 4% found their new position through the Internet. And job search times have dropped to the lowest in 33 years: the median search time for US executives was 3.3 months, down from 4.7 months in 1997. The majority (73%) found their new position in less than five months. Interestingly, base salaries dropped 5.5%, but total compensation packages (bonuses, stock options ) made up the difference.
 
PSYCH @ WORK PAYS OFF
According to Prof. Juliet Schor of Harvard University, one-third of Americans say they 'always feel rushed' and their lives are out of control. Millions feel depressed and anxious. About 65% want more balance and simplicity in life. No wonder Prozac, Zoloft and other mood enhancing drugs are a $6 billion US industry.

The American Journal of Health Promotion reports a study of 46,000 employees that found that 8% ($24 billion) of total health costs was due to stress related illness. Many research studies have shown that psychological services offered to employees (to help them learn stress reduction techniques, more effectively deal with personal and work problems ) dramatically reduces absenteeism and disability claims, while increasing productivity and morale. It pays to look after employees' personal and professional needs.

 
MAKING MEETINGS MORE VALUABLE
American employees spend millions of hours in meetings every year, much of which is wasted time and effort. Yet, conducted properly, regular meetings can actually be a valuable source of communication, and a great morale and team-builder.

How? Create a safe environment in which staff members can say what's on their minds.

Start with positive questions: 'What have you accomplished since our last meeting?' 'What are the challenges you've had to overcome?' This helps you, the affirming manager, know what's going on, reinforces their efforts, and let's team members receive acknowledgment for their accomplishments.

Then ask , 'How can we improve what we're doing?' welcoming all suggestions and inviting concerns or problems in need of solutions. Create a step by step, achievable action plan that can be realistically implemented and measured (when possible).

Also ask, 'As a group, what could we have done better since our last meeting to increase revenues, decrease expenses, save time or make the company a better workplace?' Welcome their ideas and develop the ones that are worthwhile into an action plan.

A more personally risky, but equally valuable question (which might be better asked individually) is 'What can I, as your manager, do differently to better help you accomplish your job and career goals?' Just asking this question is almost always appreciated, especially if you listen factually and non-defensively to what they say and learn what you can about your employees' needs.

The result of the right questions and a supportive atmosphere will be a much better use of both group and individual meetings, opening the lines of communication and building morale and team spirit.

Call 858-780-0988 or Toll Free 888-JKRAMER (888-557-2637)
Email JonKramer@BusinessPsychologist.com
PO Box 3101, RSF CA 92067


Copyright© 2006
Jonathan M. Kramer, PhD