People find more long term happiness in experiences than material things.

The Science Behind Keeping Your Work Team Happy

The team that you have formed that physically works for you and makes your business ebb and flow throughout the days, weeks, and years is an investment. They are expensive. They are essential, for if you are operating efficiently it would mean that one team member leaving will require a replacement as soon as possible. You want to keep your team intact and happy for many, many years to make the most of your investment and reap the maximum benefits for your business operation.

The team members that have grown with you, that don’t have to question how you would want things done, that can react to challenges with the response you would expect and desire are valuable. They are dependable and that is something that a small business owner needs.

So how do you keep them within the business year after year working happily and enthusiastically for the benefit of keeping the investment toward their employment, your business, and you? According to a recent study, you provide your team with experiences.

The information about the study reveals that people are happier from experiences more so than material rewards.

The results of the study can be applied toward you your life, used to keep your team engaged and happier, and it can be used to enhance the happiness of your customers. People long remember and have fonder memories of experiences over things.

Dr. Thomas Gilovich, Professor of Psychology and Co-Director of the Center for Behavioral Economics and Decision Research at Cornell University, has been studying and researching the question of money and happiness for over two decades. He and his colleague and coauthor Amit Kumar most recently published a paper in the academic journal of Experimental Social Psychology. Their research has confirmed, and I think once your read about the study you will agree, that people find greater happiness in experiences than material possessions. It goes further to reveal that people enjoy talking to people that talk about experiences over material possessions. The research reveals layer after layer that experiences are what we need, and what we enjoy, and what gives us more happiness overall.

Great articles explaining the study can be found here: The Science Of Why You Should Spend Your Money On Experiences, Not Things and here: The 7 Reasons That Science Says You Should Pay For Experience, Not Things. Another good article on the same research can be found here: To feel happier, talk about experiences, not things. A published report on their studies can be found here: The Hedonic Payoff from Experiential and Material Investments.

This is one study that might need your full attention. It’s not just a fact to grasp and stick into a file in your head to pull out when needed. This one should be rolled over in your head and given some real thought. It can be used in all areas of your life. Put it into practice to bring more happiness to your family and friends, and use it in your professional life to increase the happiness of your team and customers.

It’s as Maya Angelou said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

Businesses that operate to create experiences, such as Starbucks, are successful. Small businesses are very capable of embracing this concept and making it work to deliver more in their customer’s buying experience. It certainly can be used creatively to strengthen the lives of team members, and it can definitely be used in a person’s personal life with a focus to doing versus having.

So, get out there and create experiences. It will do you and your business a lot of good.