Employee experience is all about making your employees feel valued, understood, and empowered. It encourages an emotional connection with the company which makes them want to stay for longer periods of time, ultimately leading to better business outcomes. The shift in today’s consumer landscape toward a more engaged, demand-driven workforce means that employers have to start focusing on their human capital in order to stay competitive.
1. Longer Tenure
Over the past few years, research has shown that employees who are satisfied with their job stay at companies for an average of 2.8 years, but those who feel emotionally connected to their organization tend to stay there for 4-5 years or longer. This means that investing in employee experience can reduce turnover rates by 42%.
There are many ways to ensure your employees feel valued, happy, and fulfilled. However, it’s never about doing just one thing that makes it happen. Learning and investing in your staff members continuously is important, whether you’re doing it by reading an employee experience guide or even hiring a professional business coach to show you the ropes. A good starting point to get you going in the right direction is to take a look at what makes your employees happy and unhappy.
This can be done by asking them for feedback, conducting an anonymous survey, or even implementing a system that rewards positive behavior. Remember that even if you’re doing an amazing job, there’s always room for improvement. A good way to let your staff know you’re interested in how they feel about their jobs is to send out a company-wide email or dedicate a portion of your next team meeting to inform them.
2. Higher Engagement
In addition to lower turnover rates, focusing on employee experience also leads to higher engagement. Sixty percent of employees who feel fully engaged at work tend to be loyal to their company. This might have something to do with the fact that they’re interested in furthering their career, as well as being inspired by and enthusiastic about what they do.
Higher engagement usually means more productivity, too. Getting employees to believe in what they’re doing increases their performance by 20%. It also means creating an environment where people are inspired to do their best work. If employees are encouraged to share ideas and suggestions, then there’s a higher chance that you’ll be able to solve issues that might have otherwise gone unnoticed.
Employee engagement is not just about how employees interact with each other either. The customer experience is very important as well, as this directly affects the business’s brand reputation and its bottom line.
3. Better Customer Experience
When employees have a positive experience with a business, they feel attached to it and develop trust in the brand. This is why focusing on employee experience has a direct impact on customer loyalty as well.
In fact, customers who are treated well by their company’s employees are likely to spend between 20 percent and 40 percent more. This is because they’re more likely to return, share positive reviews of the company with others, and also refer them to their friends. The best way to build strong relationships with your customers is by making sure you deliver an exceptional service or product experience.
his starts from onboarding and doesn’t just end there – it’s about ensuring that every employee is knowledgeable about the brand, its values, and how they can give back to their community. Positive employee experience can be achieved by providing access to training opportunities, including ongoing learning and feedback on performance, as well as giving employees a chance to excel and develop new skills in their field.
4. Staying Ahead Of The Curve
Another benefit of focusing on employee experience is that it can help you cultivate creativity in your workforce. If employees are allowed to contribute ideas and share what they’re passionate about, then this will encourage them to think outside the box.
Even if you run a highly established brand, you’ll still need to keep track of the latest trends and be ready to adapt. Putting employees in a position where they can come up with new ideas is your best chance at staying relevant and successful in the long run. It doesn’t matter if it’s an original app, website feature, or social media strategy – any kind of positive change will help preserve and improve the brand.
Staying ahead of the curve is all about being proactive, which might include creating an environment that encourages employees to share their thoughts and opinions. For example, if a new promising technology comes out, then some companies might consider letting employees work on their own projects using that as a perk. In doing so, they’re saying that it’s worth investing in their workforce and the development of valuable skills.
5. Company Reputation
Employee experience is also closely tied to your company’s reputation. Previously, we mentioned how a happy employee can improve the customer experience. However, another thing to consider is how other companies might take what their employees say and do as a reflection of the company’s brand.
Having the people that work for you enjoy what they do and be proud of the company they work for is key to maintaining a positive brand perception. People that work in similar niches tend to exchange their work experiences. That could mean that a positive employee experience can lead to more referrals, which will have a direct impact on your company’s bottom line.
It could open the window for new collaboration opportunities, or even make it easier for you to attract new talent. Not to mention the media coverage your business can get if your employees are willing to share their stories of working for your company on social media or their own blog.
The benefits of focusing on employee experience are long-term, so it might take some time before you can see results. But they will be worth it in the end – especially if your goal is to boost profits and improve productivity. There’s no point investing in new strategies without getting your workforce involved. Your employees are the most valuable resources you have, and their experience can make or break your company’s success. After all, it’s not just about the customer experience anymore – every employee plays a role in helping you achieve your goals.