How to improve employee experience

Employee experience is clearly important in the employee journey, but its consequences extend well beyond that, having measurable implications on corporate culture and financial performance. Employee experience influences performance, productivity, and profitability. Perhaps this is why over 80% of business leaders polled by Deloitte regarded it as significant or extremely important.

The employee experience has an influence on five crucial areas:

1. Employee involvement and satisfaction

Employee engagement and satisfaction are directly affected by the employee experience. When people have a job that they like, their workflows become more streamlined, and they can do their tasks more simply and successfully. Those who have had a favorable employee experience are more inspired to participate with their work, team, and business as a whole. This might include putting in additional effort on the job, staying current on corporate news, and/or looking for improved methods or ways of working.

This is why many organizations and human resource departments monitor employee engagement indicators. Some major corporations have even created a chief employee experience officer post, which controls the employee experience in the same way that a CMO manages the consumer experience.

2. Talent acquisition

Today’s job seekers are searching for meaningful employment, not simply rich positions. Prospective workers are vetting firms as potential employers vet them, often using talent acquisition platforms to evaluate perks, environmental practices, and diversity, equity, and inclusion policies. They also rely on corporate review sites like Glassdoor and anonymous workplace discussion apps throughout the hiring process. Offering benefits like TravelPerk for business travel can attract candidates who value opportunities for professional development, as it enables them to attend important workshops, conferences, and training events.

A pleasant employee experience and a strong shared culture may foster employee advocates across all of these categories and platforms, attracting more applicants and providing firms with easier access to top talent.

For an even better experience, tracking time and attendance plays a pivotal role in maintaining an efficient work environment. Your business should be using reliable time and attendance software, so you can ensure accountability and transparency, helping employees focus on what truly matters. Efficient time tracking also contributes to employee satisfaction, which in turn supports talent retention and attraction efforts.

3. Retention of employees

Employees evaluate their new organization from the outset of the onboarding process, just as employee performance is evaluated from day one. Companies that are hesitant to offer access to the systems, servers, tools, and information that their employees require for work reduce productivity and create a terrible first impression. According to certain surveys, up to 40% of newly hired workers quit their positions within 6 months, making the HR employee experience more difficult.

According to the Harvard Business Review, popular reasons for leaving include greater prospects for professional advancement, cultural issues, compensation, work transfers, and supervisor relationships. These are all aspects of the employment experience.

4. Customer satisfaction

There is an evident link between employee experience and customer experience (CX). According to Gallup, organizations with highly engaged workforces beat their competitors in terms of earnings per share by 147 percent. Glassdoor research backs up this claim, claiming that “on average, a 1-point rise in Glassdoor company rating is connected with a 1.3-point increase in customer satisfaction.” Even marketing industry professionals advocate that organizations begin by improving their staff experience if they want to increase their customer experience.

5. Profitability

The stats don’t lie when it comes to connecting employee enjoyment with corporate effect. Several studies from industry-leading consultants, institutes, and corporations demonstrate obvious linkages between EX, profitability, and company success:

Employee experience (EX) and profitability statistics

• Companies in the top 25% of employee experience claim a 2x return on sales and a nearly 3x return on assets – EX leaders at IBM’s Smarter Workforce  
• MIT found that EX leaders earn 25% more than competitors with low EX.
• EX leaders have 4x greater average profits, 2x higher average sales, 40% lower turnover, and a 24% fewer workforce. SHRM’s Jacob Morgan
• EX leaders outperformed the S&P 500 by 122 percent — Accenture
• Gallup estimates that disengaged employees cost organizations between $450 and $550 billion per year.