Employee experience (EX) wasn't really at the top of the list when you asked employers what was on their minds ten years ago.
The EX movement has gained traction in recent years. Employers began to consider how their employees felt about the entire experience, from hiring to retiring.
But then COVID-19 swept the globe and revolutionized everything, according to a 2021 Willis Towers Watson global poll. In fact, 92% of employers responded that improving EX will be a top focus for their companies over the next three years. Just 52% of respondents said EX was significant prior to the epidemic.
But COVID-19 did more than highlight what was crucial for employers. Workers have identified what's important to them as well. As part of what is being referred to as "the great resignation," employees are quitting their positions in large numbers.
The New York Times reports that a new record was just established in November 2022: more than 4.5 million Americans voluntarily left their jobs, according to the US Bureau of Labor Statistics.
There is a widespread exodus of workers leaving their occupations. However, employers are swiftly shifting their objectives to maintain and recruit people.
EX is at the center of everything.
Let's take a step back to understand before diving into EX enhancement techniques. We'll discuss what constitutes a positive employee experience as well as what characterizes the employee experience. However, we'll also go through how your company may create a successful employee experience plan.
What is employee experience, exactly?
The interactions an employee has with other people, systems, policies, and the real and virtual workspace make up the employee experience. The minute particulars of daily work and recurring occurrences and transitions are essential. Employee experience is a highly individualized concept that encompasses an individual's feelings, perceptions of their abilities and potential, and overall effects on their well-being.
Everything we previously knew about the employment experience underwent a profound transformation in the wake of the pandemic. Before 2020, the formula for employee experience needed to be revised.
Employee expectations changed along with their priorities. Employees began arriving at work (albeit from their kitchen tables) as humans first and workers second for the first time on a large scale.
What constitutes the employee experience in today's pandemic workplace?
Employees want a few things, according to a 2022 Employee Experience report:
Why is the experience of employees important?
Employers can learn this lesson from COVID-19: the employee experience counts. Let's go through some of the main reasons why the employee experience is so crucial. EX is the first domino in this cascade of successful outcomes.
Your employees are more likely to remain on the job if they are happier. We've discovered that happy employees are more likely to desire to stick around at their company. However, more workers than ever are looking for fresh chances. Employee retention is crucially vital for businesses and business leaders.
It costs money to turnover. The US spends up to $1 trillion annually on turnover expenses, according to estimates.
According to data, retaining employees boosts productivity, company culture, and overall employee morale. Additionally, workers tend to stay in a job longer when they are happy.
Contact us today so we can help you enhance your employee experience!
Human Capital Expert