The MAGIC formula for Happiness in Business
Building a happy organization is how entrepreneurs establish sustainable resilience from within to overcome challenges, delivering happiness through passion, meaningful purpose, people, sustainability, and profit. Dr. Pham Ha, CEO of LuxGroup (https://www.luxgroup.vn), shares the magical formula for creating a happy business.
Post-pandemic and amid unpredictable times, awareness of a dynamic and uncertain world has increased. Dr. Pham Ha emphasizes the importance of internal sustainability in adapting and growing, with building a happy organization being crucial.
The role of Chief Happiness Officer is gaining popularity worldwide, with some corporate leaders deeming it essential to recruit for this position. In Vietnam, this theme is emerging, and leaders are increasingly showing interest.
Creating a happy organization requires proactive leadership. The Chief Happiness Officer is responsible for building a happy work environment, and employee happiness depends on leadership’s mindset, ambition, and time to cultivate a joyful atmosphere.
The MAGIC model is a magical formula for creating a happy business, including five crucial elements: Meaning in work, Autonomy, Growth, Impact, and Connection. Dr. Pham Ha believes this model aligns closely with Vietnamese businesses, as these MAGIC factors are essential for a happy organization.
Meaning – finding purpose in work contributes to happiness, as employees strive for positive societal change and national development despite facing significant pressure.
Autonomy – being in control of decisions related to one’s work contributes to happiness. Clear responsibilities, tasks, and involvement in decision-making are crucial.
Growth – happiness comes from seeing daily work improvements, recognition, rewards, and a development path matching effort and capability.
Impact – feeling happy comes from understanding the influence one has on the organization’s ultimate results. Establishing a culture of listening, feedback, and recognition fosters a sense of connection.
Connection – some employees proudly share about their workplace, showcasing a sense of belonging. Regularly sharing office pictures and experiences indicates a strong connection.
From these foundational factors, businesses delve into details, survey employee experiences, and assess perceptions. Addressing these factors becomes crucial for those responsible for planning happiness within the organization.
Built with pride, a happy business goes beyond finances. Entrepreneurs need to transmit energy, show care, and invest time in happiness-building activities. Happiness is a journey, not just a destination.