Most HR leaders have accepted the term employee experience (EX) as much more than just a conference room buzzword. It’s a real, strategic initiative that impacts engagement scores along with bottom and top line business results. But while you in HR may recognize this, the reality is your executive team may not. Getting the resources to improve EX can be a struggle when these initiatives are perceived by higher-ups as cost drivers instead of revenue drivers. Although there’s research that shows the connection between a positive EX and benefits such as stronger employer brand, improved retention, and reduced turnover—these employee experience stats might not be enough on their own. To convince executives of the benefits of EX investment, you may need to show research that correlates a strong EX with financial results, like profit, revenue and shareholder return. To save you the trouble, we did the work. Read on for a brief overview of three hallmark studies that sought to prove the financial ROI of a strong employee experience.
It’s no secret that remote work is the new norm. In the U.S., the number of telecommuters increased by 159% between 2005 and 2017, and by 2018, 70% of professionals around the world were working remotely at least once a week. This isn’t just good for employees, making it easier for them to avoid lengthy commutes and achieve a healthy work-life balance. Businesses reap the benefits, too: companies that allow remote work experience 25% less turnover than those that don’t—and report higher productivity and lower overhead costs.
The workplace is quickly evolving and the HR function at Groupe Rocher, an international cosmetics and beauty company, is having no problem keeping up. Groupe Rocher wanted to provide a more modern employee experience so they looked to PeopleDoc’s HR Service Delivery platform to transform their processes. In the video below, hear from Daniel Gottselig, Director, Compensation & Benefits/Integration HR Group, Groupe Rocher, on why he chose PeopleDoc and how the platform is creating productivity gains for HR and ease for employees.
When you hear the term “digital employee experience” your mind likely conjures an image of an employee curled up on her couch, computer propped up on her lap. That would be only partially accurate, because the digital employee experience applies to all employees, not just remote workers.
The concept of employee experience, or EX, is on the radar of many companies today, and for good reason. Improving the way employees think and feel about your organization at every touchpoint throughout their journey with you can have a dramatic impact on retention, engagement, and more. Whether it’s dedicating five minutes of attention to the topic in a weekly meeting or creating a full-fledged program, many organizations are channeling a lot of time and resources into improving EX.
Today, several organizations have shifted their resources or technology investments to make a positive impact on the employee experience. For most companies, this usually means new perks and programs such as free lunch, new hire buddies, flexible time off, and training resources. While all these efforts are valuable, not every employee will be impacted by them in the same way. This is especially true for managers. They have a unique set of needs, but the manager experience is often overlooked when thinking about employee experience.
The term “employee experience” is kind of a misnomer, isn’t it? It implies something singular—a walled-off experience that each individual employee goes through on their own. In actuality, the employee experience is much bigger than that. The average employee will interact with countless people and departments over the course of their lifecycle at your company, and each of those interactions feeds into their overall experience. But we don’t tend to think of it that way. Today, many HR departments try to boil the employee experience down to a series of boxes on a checklist, especially when it comes to onboarding. Ticking off each box is viewed as something that just has to be done, with no one really stopping to think about why it has to be done—or whether it could be done better.