Due to the dynamic nature of businesses, employees require a motive to continue working for the same company on a long-term basis. Factors like flexible atmosphere, cooperation, upgraded networking, recognition, monetary benefits, additional perks, and constant guidance contribute to great employee experience and also serve the purpose of motivating the employees to stay. Fortunately, companies are willing to modify their methods of improving employee experience to achieve better retention and all the other benefits that come with it.
The aim of an employee’s experience is to encourage the organization and it’s employees to make an effort together focusing on the prosperity of the company’s mission and an individual’s performance. The key is to offer great cultural, technological and physical surroundings.
As per Deloitte’s perspective, various challenges affect employee experience which includes:
- Companies fail to accomplish the goal of developing an employee experience.
- Companies not prioritizing employee experience as a part of their retention strategy.
- Failure in governing the right resources for setting
- Failure to update their tools for better employee engagement
- Organizations do not consider it important to incorporate monitoring, screening, diversity, wellbeing, workplace outlet and leadership into their framework.
Lack of Talent
The organizations have started acknowledging employees as their best asset. That is, they’re for the companies best interest because of their retainable talent. Besides, positive employee experience enables employers to attract the most valuable talent from the competitive market. Apart from the employer’s marketing and recruitment strategies, candidates get a better picture of how it’s exactly like to be a part of an organization after knowing the employee’s experience. Therefore, the bottom line is that you should focus on providing a positive employee experience because applicants can figure out the truth.
Research has shown that candidates have been spending much time seeking other job opportunities. As proved by the 2016 candidate experience report of The Talent Board North America, 38% of candidates spend about one or two hours in search of a job, 18% of candidates spend two to four hours and 16% for five hours or more. Moreover, this research stretches beyond the website of the company.
Candidates know an easy and best way to get authentic and reliable information is by discovering social media posts, going through review sites, following hashtags and tracing employee job development. To make an employment decision, employee experience plays a vital role. This provides them with a clear picture of what to expect in terms of career growth and overall learning experience. So, improving and investing in your employee’s experience will result in the progress of your organization’s recruitment process both, passively and actively.
Certain institutes like Globoforce WorkHuman Analytics, IBM Smarter Workforce Institute have conducted research that has revealed that organizations with a constructive positive experience were obtaining more financial rewards. It is outlined that companies who are included in the top 25 percent for employee experience to have almost three times the return on resources and more than double the return on sales contrasting the companies in the base quartile. Moreover, a little rise in a company’s employee experience score has a huge effect on generating revenues. If there’s nothing that persuades you, the potential financial gain should draw your attention towards improving your employee experience.
Many kinds of research have proved that millennials are more into experiences than just materialistic stuff. They have a similar approach to professional work. According to the report given by LinkedIn Workplace Culture, nearly 86 percent of millennials would not mind a pay cut for working in the organization whose culture and goals match their own. Since the shift of preference from work-life balance to work-life blend, employees desire to make their career mix with their holistic self which motivates them to be more honest with their work. You must appeal to millennials in this era, consisting of the largest number of people involved in the workforce (nearly 35 percent). Therefore, organizations can attract and engage them by encouraging a positive experienced workplace.
Despite dividing the employee’s journey into traditional bricks like culture, career development, and rewards, companies should amalgamate the experiences by reconsidering all the aspects of work.
Certain factors can positively impact and influence the experience of your employees, such as:
- Hiring skills based on the culture of your company
- Support autonomy and authority
- Promote coordination between teams
- Supportive direction
- Set a comprehensible and clear objective
- Guide and scaffold your employees
- Invest in talent progression
- Produce an adjustable environment
- Encourage humanity back in business
- Appreciate the achievements and accomplishments of your employees
- Encourage and facilitate an incorporative and diverse workforce culture
Opportunity for employee development
- Provide guidance and helping hand on the job
- Empower self-governing learning
- Assist your employees in recognizing and strengthening their powers
- Convey a vivid and comprehensive motive and mission
- Invest in your abilities and skill
As a leader, it is your responsibility to move a step ahead for the progression and transformation of the company to establish an organization that flourishes along with its people and business. Begin by communicating a clear and transformed employee experience, providing access to benefits such as s student loan forgiveness directory, setting up employee incentive programs, and making sure it’s aligned to the goals of the organization and each domain of the work experience.