April 11, 2023
It’s no surprise to HR that employee engagement makes a difference when it comes to business performance. But, does your leadership team prioritize the employee experience the way that they should?
We’ve got the story about why you should care about the employee journey and the kind of ROI you can expect from investing in your team.
But before we dive in: what is employee experience? Basically, it's the sum of all the interactions an employee has with their employer, from the hiring process all the way through their exit interview and beyond. Think of things like cultural onboarding, employee recognition, manager development, employee engagement, and more.
So, why does this all matter? Well, let's start with the obvious: Happy employees are more likely to stick around. This means lower turnover rates, which in turn leads to lower costs associated with recruiting, hiring, and training new employees. Plus, if you're happy in your job, you're more likely to go above and beyond in your work and deliver great results.
But it's not just about retaining employees.
A positive employee experience can also have a big impact on customer experience. Think about it: if you're unhappy at work, it's going to be pretty tough to put on a smile and provide great customer care. On the other hand, if you feel valued and supported by your employer, you're much more likely to be engaged and invested in delivering a great experience for customers.
Let's take the example of Zappos, the online shoe and clothing retailer. Zappos is known for its exceptional customer service, and part of that comes down to the company's focus on employee experience. For starters, new hires go through an extensive four-week training program that's designed to immerse them in the company culture and give them the skills they need to provide top-notch customer service. But it's not just about training; Zappos also offers a range of perks and benefits that help employees feel valued and supported.
The result? Zappos has some of the highest employee satisfaction ratings in the industry, and that translates into happy customers who are more likely to become repeat buyers. It's a win-win situation.
It's not just anecdotal evidence, either. Studies have shown that companies with a positive employee experience tend to have better financial performance overall. Glassdoor Economic Research found that companies with high employee satisfaction ratings outperformed their peers by 122 percent in earnings growth. That's a pretty big deal!
So, what can companies do to enhance employee experience? There are a lot of different factors to consider, but some best practices include fostering a strong company culture, providing opportunities for growth and development, including recognition and rewards on a regular basis, and being transparent and communicative with employees.
Another great example is Salesforce, the cloud-based software company. It has made employee experience a priority by investing in its Ohana culture, which emphasizes inclusivity and community. As part of that culture, Salesforce offers a range of programs and benefits to support employees, including volunteer time off, wellness programs, and paid parental leave. Plus, the company regularly solicits feedback from employees and uses that feedback to make improvements and address any concerns.
Of course, every company is different, so there's no one-size-fits-all solution. But it's clear that prioritizing employee experience can pay off in a big way.
To sum it up: happy employees = happy customers = better business results. It's not rocket science, but it is a reminder that the people behind the scenes play a big role in the success of any organization.
If you’re interested in improving the culture of your company, or you’re simply wanting to learn more, reach out to us here at Motivosity, we’re here to help!