How Improving Employee Experience Creates Business Success
We’re all aware of the term ‘customer experience’ but this time it is the employee experience that’s becoming the talk of the town in the human resource sphere. So what is it, really?
The term, however, is self-explanatory. Employee experience is all about what an employee experiences at work. It is about how they feel working in a certain environment or at a certain job role in a company. To ensure having a dedicated team of employees that work diligently to bring in more business, companies that keep a track of their employee experience maintains a strong culture, a great working environment, a healthy employee life cycle, the best employee benefits, and heightened employee engagement. No wonder, employees with a great ‘employee experience’ are so motivated to return the favor and dedicatedly work towards the company’s motive when managers work to improve employee morale.
Employee Experience and Business Success
And a great employee experience is not limited to just active employee engagement or employee satisfaction. The overall experience is much more than that. Keep reading to find out how improving employee experience helps with improved employee retention rate and also creates business success.
The Importance of Employee Experience
When it comes to great employee experience, communication stands as the most crucial tool for the development of strong working relationships. Naturally, a happier and more satisfied employee will be more committed to the work and would work towards the bigger goals of the organization. For the employee, it becomes more than a paycheck.
Having a great working environment, where the management is always available for your assistance, the employee feels safer and more passionate about the work. This motivation is also reflected in the individual’s performance and overall outcomes.
Companies that feel responsible for the employee experience have a dedicated team of HR leaders that are focused on improving the overall employee engagement. This is the number one reason why these companies also have a successful employee retention rate. Organizations that strive to improve employee experience can reduce both hiring costs and turnover and have a team of more dedicated employees. On the other hand, organizations that fail to engage the employees to contribute to a higher rate of employee turnover.
According to a survey carried out by Forbes, employees who are more engaged by the management are likely to remain loyal with the employer and are naturally more motivated towards their work. This single factor helps the organization hit more goals and achieve higher business success.
A company that takes care of its employees’ experience is more likely to experience consistent productivity from the employees’ end. This leads to higher revenue. In fact, according to research, companies with an improved employee experience report more than 20% higher productivity.
This is a growing trend that’s also becoming quite popular with employees. This is encouraging more and more businesses to invest in employee experience. So is there a way to calculate the business success associated with improved employee experience according to a dollar amount? Well yes, according to another research by Talent Culture, increasing the investments for employee experience by 10% can increase the profits by $2,400 per employee in a year.
Ways to Improve Your Employee Experience
Ready to jump on the bandwagon and gain some serious success for your business? Here are four things you can do to boost your employee experience right now!
- Improve communication – Putting enough energy to communicate internally comes with lots of benefits. Employees serve as your key stakeholder. Sharing information and providing more than one platform for communication can improve employee engagement.
- Learn to celebrate – Make your team a part of your celebrations. Celebrate promotions, work wins, birthdays, anniversaries, etc. It is important to recognize your employees and appreciate their individual or team achievements. This does not have to be too big or too complicated. A simple cake and a little leverage to allow people to develop personal relationships are more than enough.
- Opportunity to learn – Committing to help your employees learn and develop is important to establish a healthy working environment. Don’t let work get in the way. When people learn, they become more confident, and when they’re more confident, it reflects in their work performance. Be open to different learning programs as well as conversations regarding career progressions. Your employees need to feel safe and valued within the organization.
- Eradicate the Barriers – Avoid over-complicating things within the workplace. Even if you have a system in place, it does not have to be daunting or too complex. If you already have a system in place, reevaluate it and see if it needs simplification. The point is to take the burden off your employees to make tasks easier and more efficient.
Final Word: Improving Employee Experience for Better ROI
All in all, the key is to establish an experience that includes learning, growth, opportunities, constant communication, celebrations, development of interpersonal relationships, and diversity to keep the environment fun and engaging. Once you’re able to achieve all this for great employee experience, you’re definitely on your road to bigger business successes.