E326 | The Happiness Index for a Thriving Workplace with Matt Phelan
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In this conversation, Matt Phelan, the co-founder of the Happiness Index and author of “The Business Case for Happiness” and “The Happiness Index, ” shares valuable insight into measuring emotions in the workplace. Matt challenges the old business adage, “If you can measure it, you can manage it,” emphasising that understanding and supporting employee happiness leads to better performance.
Listen to this entrepreneur’s story, which led to pioneering the integration of happiness metrics in workplace culture. Highlighting Richard Branson’s belief that employees come first, Matt introduces his data-driven approach to fostering workplace happiness and its significant impact on business outcomes.
The episode explores the complex relationship between measuring and managing happiness and the importance of emotional well-being in the workplace. Matt also offers book recommendations and practical advice for enhancing happiness at work, making this a must-listen for any leader eager to disrupt the norm and prioritise employee satisfaction.
Takeaways
- Mythbusting the business concept, “If you can measure it, you can manage it.”
- Understanding the correlation between happiness and productivity.
- Professor Jeremy Dawson’s fascinating NHS hospital research.
- Breaking down the Employee Net Promotor Score questions.
- Debating in the office or work-from-home models.
- Pixar’s global emotions framework.
About Matt Phelan
Matt Phelan is the co-founder of the Happiness Index, an organisation that aims to understand what makes people happy at work and how that relates to their work performance. He is a self-confessed proud geek and a supporter of decent people.
Matt’s career started when he founded a digital marketing agency called 4Ps Marketing when he was 25 years old. After driving this agency to immense success, Matt and his partners sold the company and opted to double down their investment to go again.
The Happiness Index is a SAAS platform that helps organisations measure their key employee engagement and happiness drivers.
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Book Recommendations
Freedom To Be Happy: The Business Case For Happiness by Matt Phelan
The Happiness Index by Matt Phelan
The Little Book of Hygge by Meik Viking
The Happiness Advantage by Shawn Achor
Will It Make The Boat Go Faster by Ben Hunt-Davis and Harriet Beveridge
Quick Fire Questions
Q: What drives you every day?
Matt Phelan: Probably two things, I think, probably not starting out with anything is that I always think that I will have no money for my children tomorrow. So, I am driven by fear. I’m not afraid to admit that that’s something. I’m driven by fear, which, in our model, safety is the top four drivers of happiness. And then it’s almost like the opposite or the end of its spectrum, which is an adventure: I like trying to do really difficult things.
I could have started another agency after doing an agency, trying to understand things that I definitely didn’t. And I still probably learning every single day. So the adventure bit, I’d say, is driven by fear and adventure, which is. Listeners probably think that they are complete opposites, but they are both important to me. I need to feel like I’m creating a safe future for my children, but I also need to mix it up with some adventure and some risks, and sometimes they collide.
Q: What’s your genius?
Matt Phelan: I definitely don’t have one. I don’t necessarily believe in genius. I just think I’m just trying to work out stuff and have some fun along the way. In writing the last book, I discovered I was thinking about the meaning of life. When I looked at the data, I work out that I think the meaning of life is finding meaning in life. For me, that’s what life’s about. Everyone’s got their own different bits, and people come together.
So, I don’t ever see anyone as a genius. It’s about all the little bits coming together. But if you can find meaning in what you do, you can enjoy life.
Q: What unpopular opinion do you hold?
Matt Phelan: The Tottenham Hotspurs are never going to win the league, unfortunately. It saddens me to say this out loud, but it’s very unpopular in my family.
Q: What’s the most significant risk you’ve taken?
Matt Phelan: That managers are leaders, and leaders are managers.
Q: What’s the biggest risk you’ve taken?
Matt Phelan: I think too much on the risk bit. I have the fear bit. But, like, after selling our first company, we put everything into The Happiness Index. And that has been an incredibly good situation. But in the pandemic, like lots of companies, there were times when a bit like, oof, are we going to make this through? What happened to The Happiness Index during the pandemic is people never needed our services more than ever. But there was a mini credit crunch, like 2008 all over again, where cash just stopped. And we had this really weird thing where we’re busier and busier, but there’s less cash coming in. You hear about those companies, don’t you, that are really successful but just run out of cash.
And luckily, about five weeks in, six weeks in, things switched really quickly. That was probably the biggest risk I thought about because my assessment in my head is that I’m young, I don’t need to put anything aside, and I can just go all in Vegas style. But I think I wouldn’t do that again. Even though it’s turned out all right. I would never do that again.
Q: How do you measure success in life?
Matt Phelan: Am I being a good dad? And I might be good at my job as well. And if I can do both, both are important because I want to set an example for my children about business and life. They’re both important to me together. But that’s what the kids do. That’s what’s going to be remembered, isn’t it? Am I a good dad? No one’s going to remember the rest.
Q: What’s the most recent thing you’ve learned?
Matt Phelan: Coaching 11-year-old girls’ football. The hardest skill I’ve ever developed. It’s made everything else in life seem easy. That’s what I would say.
The FA banned football in this country up until 1971. So for women to play football is actually quite rare, if you put it over a 100-year period. And the more you get, the more you realise so many sports clubs have been on their knees for so long because they have basically ignored half of the demographic.
Once you reintroduce women’s sports back into communities and clubs, you see some pretty magic stuff happen. I’d recommend anyone listening to go and check out Louis FC. It is the first club in the world to pay its men and women the same.
You can become an owner for 50 quid. But I think they’re second or third behind Barcelona in memberships now. So, yeah, I’ve become very passionate about that world.
Q: What’s the worst business advice you’ve received?
Matt Phelan: If you can measure it, you can manage it.
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