Source | www.hrmagazine.co.uk
We now have diverse, multi-generational workplaces. That means that not every employee comes to work for the same reasons. So just how can we create an equally diverse employee experience that motivates them all?
There is no doubt that employee experience makes a significant difference to the performance of any business. MIT’s Centre for Information Systems Research shows that companies with the best employee experience have customer satisfaction levels which are double that of their competitors.
That leads to them also enjoying profits which are 25% higher, too. Companies that invest in employee experience are also 11.5 times more likely to be found in Glassdoor’s Best Places to Work.
No wonder then that, according to Deloitte’s Human Capital Trends survey, 80% of senior executives rate employee experience as important or very important to their businesses.
But just what is this vital business ingredient, employee experience? And how does it differ from employee engagement? We would define experience as follows: the perception people have of you as an employer from everything they see, hear, feel and participate in from the first day they start with your organisation until the day they leave.
As we can see from the above research, if that experience is positive, then employees will not only enjoy what they do and have a strong sense of purpose, but they’ll be far less likely to leave and be more likely to be ambassadors for your business.
And the difference between experience and engagement? Think of experience as the input and engagement as the intended output.
That all sounds simple, doesn’t it? But wait. Deloitte’s same survey showed that just 22% of senior executives reported that their business was excellent when it came to employee experience.
Not only that, but just short of 60% said they were not ready, or only somewhat ready, to address the challenges which employee experience created.
So we have a concept which can clearly bring significant business gains, but a reality check which suggests it’s not that easy to make it happen.