Money is no longer the primary motivating factor for employees. Over time, the working standards and requirements of employees have been reformed. Today, they want a healthy work culture and work-life balance over salary hikes. This is why companies should put additional efforts into creating a positive employee experience (EX).
Why? Because a positive EX breeds happy employees.
When your employees are happier and more engaged, you can create a strong work culture and support a team of high performers.
That is why companies like Starbucks, REI, and GolfTown have gone beyond their ways to rebuild the company’s policies and improve the employee experience. The result? Starbucks attracted 87% more customers, while 92% of REI’s employees work beyond their profile to support the company. Not to mention, GolfTown increased employee engagement by a staggering 75%.
A positive employee experience fosters a sense of belongingness, trust, and morale. It makes workers feel more involved and motivates them to contribute to the company’s objectives.
How Employee Experience Affects Productivity
- Positive Employee Experience Results in Better Employee Performance
Did you know that US companies had to pay around $450 billion to $550 per year for disengaged employees? Yes, employees who get a poor EX often feel disengaged and unmotivated to work and eventually make a switch.
In contrast, a good EX can soar employee productivity. A study by IBM revealed that when companies improved their employee experience, employee productivity rose by a staggering 23%!
This is because employee experience encompasses various interactions throughout the employment journey — from onboarding to the kind of work they do every day. Such interactions with office technology, working space, management, training, and more define what their overall experience is like.
This is why prominent companies like Amazon and Target have introduced new policies to promote employee development. They are financing college degrees and offering free textbooks for working students. And as a result, they are boosting employee experience, loyalty, and retention.
- Employee Experience Affects Customer Experience
Do you know the secret behind Southwest Airlines’ exceptional customer experience reviews? It is not keeping the customers as a priority. Instead, they are putting their employees before the customers.
After all, employees are the bridge between the company and its customers. Their enthusiasm for the work speaks volumes about their EX and company culture in general. This is why employees who feel valued and appreciated perform better.
To provide value and improve the working experience for employees, companies must adopt the latest technologies and tools to ease their day-to-day work. Providing outdated technology will only hamper their work efficiency and result in delayed service delivery to a potential customer.
Therefore, it is vital to foster a positive employee experience. Not only will it boost employee productivity, but it will also result in better customer relationships.
- Better Employee Experience will Build Loyalty and Trust
In 2018, Wegmans invested $50 million in employee well-being. Five years and a global health crisis later, the company has been named as one of the top three companies to work for in 2022.
Coincidence? Not at all. They are the perfect example to illustrate how to earn employee loyalty and drive productivity at work.
This happened because they improved their employee experience. They made employees feel valued and content in their roles, which resulted in a highly productive workforce. However, the same rules apply to companies everywhere.
When your workers are happy and receive career progression opportunities, they are more likely to stay with the company. With a low turnover rate, you not only eliminate unnecessary monetary expenses but also foster a healthy work culture.
- Employee Experience Impacts Workplace Experience
Did you know that disengaged employees have 37% higher absenteeism? So, they are unlikely to contribute to your bottom line. This is why analyzing the workplace experience of employees is important. It can help you identify their pain points and faults in your workflow.
Another way to analyze employee experience is to analyze the hiring process, training provided, management process, technologies, and so on. You can determine these issues by taking surveys and feedback from employees at various stages.
Focus on providing a work environment that enhances employee experience. This will ensure your workers are engaged and productive.
Key Considerations for the HR Manager
In the flexible and hybrid work settings of today, technology will play a major role in boosting employee experience. So, make sure to conduct routine meetings with the IT team to update the software and automate processes wherever possible. This is the bare minimum employees are expecting in today’s technology-driven age.
Here are some other ways to boost employee experience in your company:
- Take regular feedback and surveys
- Make employee experience part of the company culture
- Conduct an exit survey
- Take a hybrid workplace approach
- Improve technology in the workplace
- Provide learning opportunities
- Upskill and train existing management and team leads
Beyond Financial Benefits
According to the US Bureau of Labor Statistics, by 2030, 75% of the workforce will be millennials. And millennials don’t just want high wages and medical benefits. They want flexible workspaces and an excellent work environment without compromising on work-life balance. That is the key to providing them with a meaningful employee experience and boost productivity.
So, if you want to retain your young workforce and keep them motivated to work, ditch the traditional office model and adopt a flexible one.
With Workinsync’s hybrid workplace solution, you can achieve all this and much more. From employee scheduling to parking lot management, it will not only help you optimize your office space but also improve the employee experience.