HR Analytics

Why should Employee Experience be part of your 2020 HR Budget?

Source | | Volker Jacobs

It’s hard to find a conference for senior HR leaders these days that does not have an employee expe­rience (EX) stream. You can look at it from almost each HR angle, and you will find a very compelling use case for EX management: Employment Value Proposition. Recruiting. Onboarding. Learning. Perfor­mance Management. HR technology. HR operations. We can easily build a logical bridge between these core ‘products’ of HR teams offered to the business and the management of employee experience. And all these use cases of EX are so obvious that in our ‘2019 State of EX’ research 90% of HR practitioners agreed that EX is a top priority for their companies’ HR leadership teams. So – is employee experience finally the umbrella under which HR practitioners of the world shall unite? A second data point from our research raises some doubt: In 2019, only 12% of HR practitioners have plans in place to execute their EX priori­ty. So as compelling and uniting as EX may be as a concept – we are just getting started with managing it actively.

Fig 1: Source: TI People research ‘The state of employee experience 2019’, July 2019, n = 521

Fig 1: Source: TI People research ‘The state of employee experience 2019’, July 2019, n = 521

HR practitioners, our research shows that many intend to build it in to their 2020 plans (‘plans’ being budget and time commitments) and that the foundational idea of creating EX in co-creation with employees (design thinking) will and should be a cornerstone of these 2020 plans.

The 8 pragmatic benefits of Employee Experience…

To support HR teams to justify their EX investments, here are the business benefits we can prove from clients of ours:

  1. Engagement is the result, where very often EX is the cause. So, managing EX enables us (finally) to take effective action on engagement.

  2. For EVP, if we measure the employee experience, we can prove that we deliver against our employment value proposition – and can even link it seamlessly to the customer value proposition.

  3. In recruiting, a better candidate experience will improve our offer acceptance rates and time to fill an open position.

  4. A better onboarding experience will get new hires faster to 80% of their full productivity, and it will decrease the attrition rates in the first 18 months.

  5. A better learner experience will drive self-led, bite-sized learning – a pre-requisite for the huge up- and re-skilling challenge of large companies.

  6. If managers have a better experience with their tasks in performance management, they will likely manage team performance more effectively.

  7. A better end-to-end experience with that encompass new, cloud-based HRIT systems will increase the (mission-critical) adoption of these new systems.

  8. A more effortless experience will give time back to managers and employees, so has a very direct and measurable impact on business results.

From our work we have identified the most impactful ‘moments of truth’ for each of these eight EX benefits to actively manage. Designing these moments (in co-creation with the employees),  sharing the design across local businesses, and measuring the EX in these moments will make HR and line manager act in ‘business partnership’ in its best sense.

Click here to read the full article

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button