With the advent of job portals like LinkedIn, Naukri, and others, it is now becoming challenging for firms to retain talent. In 2021, as per Forbes, more than 40% of the global workforce was willing to leave their jobs, and the news of great resignations in the US is not new to us.
At times like this, employee experience (EX) works as a critical driving force for attracting and retaining talent. After examining EX management strategies globally in 2021, IDC found that approximately 85% of survey respondents found that improved EX resulted in better customer satisfaction and improved the top line and bottom line of their organisation.fr
What is Employee Experience?
Employee experience is not about “What should the employee do on his/her day one” rather, it’s about “What the first day of an employee looks like.” It is not about achieving the milestones; it is about the micro-moments in between the process of achieving those milestones.
EX embodies a paradigm shift in how employees perceive themselves within the organisational fabric. It’s about intertwining professional obligations seamlessly with personal fulfilment, creating a tapestry of experiences that enrich both spheres of life.
How to Get Started?
The best way to begin working on your employee experience is by factoring in the feedback from your employees. Employees are very well aware of their sentiments while working in the organisation.
By fostering collaboration with your employees, you are able to identify potential pain points, innovative solutions, and effective strategies. Every voice matters in this collective endeavour to cultivate a workplace where every individual thrives.
However, the landscape of EX metrics is still largely uncharted territory, with no standardised compass to guide leadership teams. Job satisfaction, a cornerstone of EX, is a mercurial concept, fluctuating not only from person to person but also from day to day, even from moment to moment.
However, all is not lost. Despite the absence of concrete metrics, you can still focus on engagement metrics and delve into team dynamics through causal analyses. Understanding the ‘why’ behind employee turnover and disengagement can illuminate the path towards significant improvements in your EX design.
Now, let’s zoom in on the challenges ahead. Even smaller companies face obstacles in optimising these micro-moments that collectively shape the employee experience. From streamlining workflows to delivering personalised interactions and fostering seamless connectivity.
Good things take time. Developing a good EX strategy will take time. It is wise to take baby steps and keep your goals realistic.
Case Study – IBM
In an interview with HBR, the chief of human resources at IBM revealed their EX strategy. He mentioned that it started with the very basic thought that “if the employee loves working with them, then the clients will too.” This thought became the bedrock of their EX strategy.
Expanding on this foundational principle, he emphasised the imperative for companies to transcend the conventional boundaries of the onboarding process. It’s not merely about orchestrating an introductory meeting; rather, it’s about going that extra mile to ensure a holistic and immersive onboarding experience that resonates with the core values of the organisation.
IBM didn’t confine its efforts to rhetoric; they undertook a comprehensive overhaul of its learning and development ecosystem. By leveraging cutting-edge algorithms and bespoke learning tools, they empowered their workforce with personalised insights tailored to their unique areas of expertise. This bespoke approach nurtured individual growth and fostered a culture of continuous learning and innovation within the organisation.
They didn’t just stop here. They also restructured their performance structure. Rather than following a top-down approach dictated by a cadre of experts, they co-created it with their employees as a sort of extended hackathon. Embodying the philosophy that “people are less likely to resist change when they’ve had a hand in shaping it.”
The impact of IBM’s transformative endeavours reverberated beyond the confines of their organisational boundaries. Through meticulous analysis, they unearthed a compelling correlation between employee satisfaction and client contentment. Astonishingly, two-thirds of the client satisfaction score was directly attributable to the job satisfaction of IBM’s workforce. By orchestrating a mere 5-point surge in client satisfaction, IBM witnessed an exponential 20% surge in revenue, underscoring the indelible nexus between employee engagement and organisational success.
