Ask financial advisors about the words they associate with work, and “fun” will seldom top the list. But a growing body of research suggests that creating a culture of having fun at work will attract and retain employees and increase motivation and productivity. And this doesn’t just apply to millennials; it’s true of older team members as well.
The controversy around “fun” at work
The roots of the idea of fun at work lie in the dot-com era, when the youth-oriented culture created new norms at tech start-ups. Since then, the notion of introducing elements that make work “fun” have spread to other industries, including hospitality, retailing and consulting. Research has measured what happens when employees report having “fun” at work with some surprising results:
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A University of Florida study reported that students with part-time jobs who reported enjoying themselves at work saw increases in productivity, creativity and cooperation.
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This excerpt from the book The Levity Effect describes how production-line workers dramatically exceeded their quota when offered the opportunity to break early and go outside and fly paper airplanes.
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A growing body of research outlines how online learning becomes dramatically more effective when it incorporates the principles of videogames. This process is known as gamification
Not everyone is in favor of creating a work environment that focuses on fun. Indeed, a 2013 New York Times article questioned the value of making fun at work a priority, pointing to research suggesting that this could reduce productivity rather than increase it.
Still, companies like Southwest Airlines, Zappos and Google show that it’s possible to combine a single-minded focus on results with an environment in which employees have fun at work and are more enthusiastic as a result. The key is that the “fun-creating” strategies should be appropriate for the organization, and they should emerge through a bottom-up process of soliciting ideas from employees. Advisors who have created enjoyable, fun workplaces report that all they had to do was invite suggestions and give employees the scope to act.
Finding the right ideas for your office
When creating that “fun” environment, you should maintain professionalism and a strong focus on the client. Here are some ideas that advisors have implemented to make their environment more “fun”:
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An advisor noted that some professional sports teams give out light-hearted awards after each game to the player who’s made the biggest contribution. Examples include a hardhat, shovel, WWE belt, fireman hat and Superman shirt.
At this advisor’s Monday morning meetings, his team elects a “most valuable player” from the previous week, based on nominations received on the previous Friday. The winners receive fresh flowers for their offices. Another advisor kicks off staff meetings with a short fun video. Responsibility for coming up with that video rotates among her team.
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In an interview, Rande Gerber (Cindy Crawford’s husband) described how he, a close friend and best-buddy George Clooney came up with the idea for a super-premium tequila now taking the market by storm. Gerber talked about having fun at work and about having lunch with his partner every day.
While daily team lunches won’t work for many advisors, I’ve talked to several advisors who schedule weekly or monthly team lunches to build deeper bonds, blow off steam and have fun. Some go to a restaurant to do this, others order in and still others go the pot luck route.
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Birthdays and anniversaries of starting dates offer an opportunity to take mid-afternoon breaks to share some cake that will give everyone a boost. Advisors have seen enthusiasm increase when their office has joined a softball or bowling league as well.
A final example of creating fun at work relates to client events. Some of the most memorable and powerful client events are ones that create opportunities for clients to bring their families and simply have fun. Whether barbeques or boat cruises, tap into your team’s creativity to create fun client events and you may be pleasantly surprised by the results. Advisors who’ve done this report that getting to know clients in an informal setting helps deepen bonds and allows advisors to see clients and clients to see advisors in a different context.
While work and fun is not an obvious combination, don’t dismiss the concept. To take this up with your team, this Business Insider article provides more ideas on incorporating a sense of fun into your workplace.
Dan Richards conducts programs to help advisors gain and retain clients and is an award winning faculty member in the MBA program at the University of Toronto. To see more of his written commentaries, go to www.danrichards.com or here for his videos.
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