Previous years have typically seen a dip in eNPS (Employee Net Promoter Score) in Q3, but 2024 shows a different story, according to data released by BambooHR. Following a discouraging decline in Q2, where employee happiness plummeted to its lowest in four years, Q3 has seen an unexpected resurgence in employee happiness.
"Employee happiness is more than just a metric—it's a reflection of the culture and values that organizations cultivate every day. This unexpected rebound in Q3 highlights the resilience and adaptability of teams across various industries. By focusing on meaningful engagement and genuine connection, companies can create workplaces where people feel valued and inspired to do their best work," says Anita Grantham, head of HR, BambooHR.
Key takeaways:
- In Q3, the average eNPS climbed to 36, reflecting a 3% increase from Q2's 35, with September climbing back to the same eNPS score as March. This period also coincides with a decrease in turnover, indicating that more employees are staying put, which could possibly be a reflection of happier employees.
- Looking ahead, if employee happiness continues to increase in Q4, as it has in each of the last 4 years, 2024 could see some recovery from the overall downward eNPS trend of the last 3 years.
- Historically, Q3 has been a period of decrease for eNPS, but this year defies that trend, offering a glimmer of hope for organizations striving to raise workplace morale.
- In the third quarter of 2024, companies with a workforce predominantly composed of tenured employees (3-plus years tenure) reported a 1% higher happiness level on average compared to companies with a majority of newer employees.
- While 1% isn’t much, this marks only the second time since 2020 that more tenured employees have expressed greater happiness. The first time was Q3 2023.
- Regionally, North America continues to hold its position as the happiest region for workers, maintaining an average happiness score of 40 in September. Meanwhile, Europe/Middle East (EMEA) has rebounded from its Q2 slump, achieving an average score of 29, on par with Asia Pacific (APAC), which also recorded a score of 29.
- In terms of company size, larger organizations—particularly those with more than 150 employees—experienced increases in eNPS during Q3. Notably, companies with over 500 employees saw the most significant improvements, indicating an unusual positive trend in employee satisfaction within larger corporate environments.
Key takeaways by employee group:
Employee tenure. Tenured employees are happier than newer employees for the second time in the last four years.
Company headcount. Companies with 150-plus employees saw significant eNPS increases in Q3.
Key takeaways by industry:
Non-profit. eNPS continued to fall, hitting a four-year low in Q3.
Technology. Saw its largest eNPS rebound since 2022 after a rough Q2.
Restaurant, food and beverage. eNPS remained steady, following Q2's decline.
“In the ever-evolving landscape of business, it's heartening to see that larger organizations, particularly those with over 500 employees, are experiencing a small boost in employee satisfaction. This trend underscores the importance of fostering a supportive and engaging work environment, regardless of company size," says Grantham. "As we continue to navigate the complexities of the modern workplace, let's keep our focus on creating spaces where every team member feels valued and empowered to contribute their best."