70% of the Indian workforce reports are unhappy at work and a significant majority of employees across the nation are grappling with dissatisfaction in their professional lives, reveals recent report released by The Happiest Places to Work, in association with Happiness Research Academy, titled ‘Happiness at Work – How Happy is India’s Workforce ?- 2024’. This report is the result of an all-India research exercise that examining patterns of happiness across various genders, age groups, geographies, and industry sectors within India’s urban workforce.
Media, Entertainment, and Advertising is the second-last category among 18 sectors in an employee happiness study conducted by Happiest Places to Work, in Association with the Happiness Research Academy. Fintech leads with 40% of employees being happy while real estate and construction is at the bottom where employees’ happiness is at 20%.
The “Happiness at Work” report spoke with 2,000 respondents across 18 industry sectors.
Said Namrata Tata, Director, Happiest Places to Work: “This report offers crucial insights into the current state of workplace happiness in India. The stark disparities in happiness levels across different demographics and sectors are a call to action for organizations to prioritize employee well-being.”
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Key Findings:
- Wide disparities in happiness levels within the same age cohorts: People of the same age are experiencing vastly different levels of happiness, indicating that factors other than age play a crucial role in workplace satisfaction.
- Gender and geographical gaps in happiness: The report highlights notable differences in happiness levels between men and women across different regions and industry sectors. In the East and Central zones, women report higher levels of happiness, whereas in the North zone, men are significantly happier than women.
- Sectoral happiness rankings: The Fintech sector has emerged as the happiest industry, while the Real Estate sector is reported as the least happy.
- 54% of employees are considering leaving their organizations: This alarming statistic points to a potential wave of resignations, particularly among employees who feel unsupported or unfulfilled at work.
- Conducive environments reduce turnover: Employees who have the opportunity to pursue personal interests within a supportive environment are 60% less likely to leave their jobs.
- Millennials at risk of departure: The intention to leave is highest among Millennials, with 59% of them contemplating a job change.
- Collaboration and expression challenges: 63% of employees experience inertia in collaboration due to conflicts, while 62% struggle to express their views openly.
Namrata Tata, Director Happiest Places to Work® commented on the findings, stating, “This report offers crucial insights into the current state of workplace happiness in India. The stark disparities in happiness levels across different demographics and sectors are a call to action for organizations to prioritize employee well-being.”
The Happiness Research Academy plans to make this report an annual publication. With each successive report, the Academy aims to uncover trends that will become indispensable to evidence-based management practices in India.
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