Nearly all (96%) human resources leaders say creating a great experience for their employees is paramount, not only for retention but for their bottom line, according to a LinkedIn study released in January.
Consider the myriad of shifts faced by workers in the age of coronavirus: how to get work done, how to navigate regular life, and how to deal with the invisible threat of a virus that is killing people by the thousands. Now is the time to prioritize an environment of work that applies empathy and motivation to unsteady ground.
“Employee experience refers to all the elements that constitute the living and working experience of individuals who contribute their talent and capability to the mission of an organization”, explained Jason Ashlock, vice president of customer and employee experience at Kuehne + Nagel International AG, a global transport and logistics company based in Schindellegi, Switzerland.
Employee experience has been on the rise for years for good reason. It has been reported that an alarming majority of workers worldwide are unhappy in their current roles. In fact, only 35% of workers consider themselves engaged at work. They view their jobs as something to put food on the table and completely disconnect from it after 5pm during the week. Ideal employees–those who bring enthusiasm and fresh ideas to the workplace–are happily part of their organization’s culture, care about the results of their work, and are excited to show up. These employees are engaged. The group who are unhappy are not only disengaged (think passively present, apathetic), they also bring to work with them the potential to affect your bottom line. Pre-coronavirus disengagement was issue enough to introduce a shift in the way leadership organized roles. In fact, the number of job titles that include “employee experience” or EX, grew by 25% between 2014 and 2019 according to the Linkedin study.
According to IBM, EX leaders enjoy a double return on sales and a triple return on assets, compared to EX laggards.
EX leaders have 25% higher profits than their less-EX-focused competitors, according to MIT.
EX leaders' employees innovated twice as often as employees from EX-lagging businesses, MIT found.
89% of employees working for organizations with strong EX would recommend their company to others. (APA)
Half of employees would leave companies with lacking EX, compared to only 21% reporting they would leave a company with excellent EX. (IBM)
Businesses in the top quartile on employee experience have double the customer loyalty of those companies in the bottom quartile. (MIT)
Organizations that invested most heavily in employee experience are included in Fast Company's Most Innovative Companies list 28 times more often than laggards. (HBR)
To focus on employee experience in quarantine, lead with flexibility, empathy, and kindness as we all face a strange and stressful era of work together. Take time to recognize the incredible talent that is driving your workforce on shaky ground.
To ensure your organization is taking steps toward prioritizing employee experience, you can start by looking at an employee recognition platform to mobilize employees to perform their best.
Interested in digitally motivating & rewarding your team?
Download: How Employee Recognition Influences Attitude & Behavior in the Workplace