A new survey released last week in celebration of National Boss Day  shows a startling revelation that 65% of Americans say getting rid of their boss would make them happier than a salary increase – and this is in times of dreadful economy when the salaries are stagnating and inflation is knocking on our door.

The study, conducted by career expert and psychologist Michelle McQuaid, the author of Five Reasons to Tell Your Boss To Go F**k Themselves,  shows the majority of Americans are unhappy in their workplace, and in most cases they blame their boss. 70% of respondents say they would be happier and 55% say they would be more successful if they had a better manager. These are staggering numbers and they demonstrate deep inner problems in the modern workplace.

McQuaid states that bosses are leaving employees feeling unappreciated, uninspired, lonely, and miserable and it definitely takes its toll on employees’ performance, causing productivity to decline. This loss of productivity is a much bigger problem than any employee’s personal unhappiness. In her study she found that frustrated employees take an average of 15 more sick days per year than other workers. Moreover, their efficiency plunges, they take no initiative and slow down the entire work flow. “This current situation in the workplace is taking an incredible personal toll on employees and for organizations, it is costing $360 billion a year in lost productivity,” she said.

Looking how extreme this sentiment is the organizations must take urgent measures to confront this challenge and start re-thinking their organizational strategies.

Study highlights:

-Only 36% of survey respondents say they are happy at their job.

-65% say a better boss would make them happy while 35% choose a pay raise.

-31% of employees polled feel uninspired and unappreciated by their boss, and close to 15% feel downright miserable, bored and lonely.

-Only 38% of those polled describe their boss as “great,” with 42% saying their bosses don’t work very hard and close to 20% saying their boss has little or no integrity.-Close to 60% of Americans say they would do a better job if they got along better with their boss.

-Close to 70% of those polled said they would be happier at work if they got along better with their boss, with the breakdown equal amongst men and women, but younger workers in their 20s and 30s skewed even higher (80%).

-Over half  (55%) of those polled, think they would be more successful in their career if they got along better with their boss, with 58% in managerial and professional careers saying so, and only 53% in service and manual labor positions feeling that way.

-In terms of the impact a boss has on employee health, 73% of those in their 20s and 30s said their health is at stake, while only 40% of those 50 and older felt that way.

-When stress levels rise at work, a disturbing 47% say their boss does not stay calm and in control. Although 70% of boomers polled say their boss doesn’t lose his/her cool in times of stress.

-Only 38% of Americans will thank their boss on National Bosses Day with most believing that their boss wouldn’t care enough to bother. Close to 10% said they would use the day as an opportunity to talk to their boss and improve the relationship.