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How does a new CEO impact happiness?

A survey among banking professionals on the topic of Happiness@Work indicated that the coming in of a new CEO had varied levels of happiness among the employees. The study, which covered some 300 people in the banking and financial services domain, found that the people who are happier and the people who felt no change were nearly equal (both ~40%) when a new CEO was to join their organization. Among men, this ratio remained the same. But among women, only a quarter (27%) felt happier, indicating that this change is not very positive for women. Message for income CEOs – do plan something specifically for women employees to elevate their feelings.

The survey covered cultural and professional diversity at workplaces. A majority of the respondents felt they would be happier with more professional diversity as compared to cultural diversity. It was the same for men and women. However, employees of a life insurance company that participated in the study, chose cultural diversity over professional diversity by a large margin. This preference was even more pronounced among the women employees.

Almost 50% of respondents to the survey felt that among the various options that would make employees happier at work was ‘Medium and long term career visibility and plan’. Men were slightly more career conscious than women – a difference of 7%. It is the IT professionals who were the most career conscious compared to the average – 63% vs 50%. Age-wise, employees in the 40-50 years age group were the most career conscious with regard to happiness. Another interesting observation is that up to the age of 40, happiness for women has a deeper link to career than for men, but this reverses after the age of 40. The next two popular choices were ‘Quick promotions’ at 15% and ‘More training’ at 13%.

The data analytics was done using Tableau software and the setup was facilitated by CRG.

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