There is a clear need to measure Happiness levels of all employees. There is also a need to understand factors of unhappiness among the unhappy ones and do higher engagement practices using VoE surveys. Happiness focusses on the state of being; VoE focusses on the core cause with respect to present workplace.
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The role of Happiness & VoE in achieving performance through teamwork

Happiness At Work surveys enable finding out the segments which are the cause for greatness or chaos in any team.

VoE acts as an efficient parameter in hiring, L&D strategy, engagement & WLB* policies.

Higher composition of happy employees creates productive teams with lower attritions.

Helps management in strategizing people management and job role fitment/internal movement.

Happiness improves innovation & creativity, fostering openness in teams that lead to faster learning and lesser conflicts.

Happiness is the best way for Employer Branding in the market of millennials, for whom happiness matters among the top 3 factors for choosing an employer.

*WLB - Work Life Balance