Every organization invests in the customer experience. They spend huge amounts of time and money figuring out how to attract and retain clients, but what about the employee experience? After all, the people working for you are your greatest assets and the ones you trust to define your brand and deliver your customer experience.
In this article, you will discover how a great employee experience can have a positive impact on your business and what factors to consider when you get started.
What is employee experience?
Employee experience, also referred to as EX, is defined as everything a person learns, does, sees, and feels at each stage of their employment.
Post-pandemic, money is no longer the primary motivating factor for employees, focusing on the employee experience is the most promising competitive advantage that an organization can create. A growing number of companies are now strategically designing their employee experience and we’re even seeing the emergence of entire roles and departments dedicated to employee experience.
Why is employee experience important?
Employee experience encapsulates what people encounter and observe while they work at a company. A positive employee experience drives business success. Designing an effective employee experience can have a powerful impact on many aspects of an organization.
Recent studies from MIT's Center for Information Systems Research show that companies with the best employee experiences see significant business benefits. The top quartile performers in employee experience saw these gains:·
- Double the customer satisfaction
- Twice the innovation in terms of percentage of revenues from new products and services
- 25 percent greater profitability compared to competitors
Employee experience also affects the following:
Engagement
How committed an employee is to your organization and your team translates directly to how engaged they are. Workers who are engaged show positive behavior traits that are key to your overall success. Engagement is one of many possible results that stem from a good employee experience. It directly affects whether people are willing to invest (their time, energy, and intellect) in your company.
Recruitment
When people are looking for a job nowadays they are likely to look for information about a company on a job search website. The increasing number of company review sites indicates the desire for employees to understand what their experience will be like if they accept a job at a particular organization. If you don’t provide a good employee experience your negative reviews may chase away potential new hires.
Retention
A positive introduction into an organization, through strategic processes like onboarding, can make a significant difference concerning an employee’s productivity, perception of the company culture, and their desire to stay.
Morale
We’ve all had days when we don’t want to get out of bed to get ready for work. Employee experience is what encourages your team members to look forward to another day even when they are struggling. If a person knows they will be met with compassion and provided with support they are more likely to turn up and be productive.
Profit
An analysis of over 250 global organizations found organizations that scored highest on employee experience benchmarks have four times higher average profits, two times higher average revenues, and 40 percent lower turnover compared to those that didn’t.
Creating a positive employee experience in the workplace
A well-designed employee experience ensures that your employees are set up for success. When you are trying to develop a positive employee experience you should consider these factors:
The millennial generation
Data suggests that millennials comprise 30 percent of the population and by 2025 will represent 75 percent of the global workforce. You need an employee experience that appeals to this generation. Millennials want work that is meaningful, flexible and autonomous workplaces, the freedom to make decisions, responsibility, plus mentorship and support. A positive company culture and the opportunity for a healthy work-life balance will encourage millennials to work for your company.
Communication
Creating an open, honest, and trustworthy work environment ensures employee comfort, safety, and engagement. You need to communicate with your employees and encourage collaboration between all team members across a variety of platforms.
Ask yourself questions like:
- Are my employees comfortable at work?
- Would my team members be willing to share negative feedback with me?
- Are my employees interacting outside work?
- Is my workplace designed to encourage open communication?
You have to talk to your employees to know their likes and dislikes and to understand their needs so you can adapt. Employee engagement activities such as Pulse Surveys, company-wide polls, open idea boards, and fun team-building exercises all help to develop open communication.
Journey mapping
Employee journey mapping is a method of visualizing the journey an employee has at your organization. The map shows every stage that the employee goes through and defines important milestones and achievements. This exercise allows you to understand the moments along the employee journey that matter most, how they impact employee experience, and what you can do to have a positive impact on metrics like engagement, attrition, and productivity.
Data capturing
It is important to capture feedback in relation to employee experience. Start by focusing on one aspect of the employee experience (such as onboarding) and grow your data capture program from there. It will take time to collect enough data to draw linkages and tell stories about your company’s employee experience so it is wise to begin as soon as possible.
Employee health and well-being
A positive focus on employee health and well-being is crucial in ensuring that your employees feel valued. This includes both physical and mental health. You should be providing programs and resources that educate your employees on the importance of healthy working practices and how to recognize symptoms of burnout. These will add to curating an exemplary employee experience.
Employee experience in the workplace – a conclusion
A great employee experience is one of the most powerful investments you can make for the success of your organization. If you get it right, you can achieve twice the customer satisfaction and innovation. It will also lead to noticeable benefits such as broadening your talent pool, improving retention, and increasing revenue.