When people think about the employee experience, most imagine Google employees lounging around in pods with laptops while they munch on free cafeteria goodies.
However, the employee experience is a far more complex set of factors that your staff needs to navigate daily. Your organization needs to modernize the workplace if you want to increase your employee engagement rates and enhance productivity.
Let’s look at the opportunities and challenges of boosting productivity in the workforce by focusing on your employee experience.
How Does the Employee Experience Affect Your Talent?
Surprisingly, many companies focus on hiring the best talent, but they do nothing to ensure that those hires stay talented. It’s surprising to see how many companies focus on enhancing the customer experience and do very little to improve the employee experience.
These organizations think that all they need to do is hire the best people, and the rest will sort itself out. Unfortunately, without the right systems in place, you could turn your talent mediocre. Once word gets out about your employee experience, it makes it hard to attract new talent to your company.
Improving efficiencies in your employee experience leads to better productivity. For example, your onboarding process might take 4 to 5-days. However, by implementing a system that utilizes mobile technology, it’s easy to onboard new hires in one or two days, dramatically increasing productivity in the new employee.
If we analyze the opportunity cost involved with this onboarding improvement, it can be up to $45K for every 100-hires every year.
Use Your Employee Experience to Retain Talent
Employees that feel a sense of frustration with their job are more likely to look for other employment opportunities elsewhere. Surveys suggest that the provision of positive work experience and a supportive work environment are as important as the salary for new hires.
If it takes your company three to six months to bring new employees entirely up to speed with their position, employee attrition becomes a considerable cost for the company. Modern workspaces and mobile functionality are at the top of the list for employees looking at potential employers.
A modern workspace relieves many of these frustrations, with some studies showing up to an 18% increase in productivity and employee retention in fully-engaged employees. These organizations also show growth in revenues of 100% to 200% over three years.
How Does Employee Experience Affect IT?
Enhancing employee experience through modern workspaces is a massive advantage for support teams and IT departments. A modern workspace significantly reduces the chances of a security breach of your data, which surveys show add up to as much as $8,000 per employee.
By taking an SSO approach to your authorization processes, it can save your company as much as $5.5-million in annual costs associated with password problems and reduced authentication.
Furthermore, automated and effective employee experiences can save the company more than $3-million lost productivity costs due to delays in deploying access to productivity apps for users.
What are the Benefits of Enhancing the Employee Experience for Line of Business?
There are significant cost advantages to deploying modern workspaces in your company. With the right systems and productivity tools blended with a user-friendly interface, your workspace improves operating efficiencies in all departments.
By implanting a modern workspace, companies can also save up to $5-million in costs associated with PC failures. The savings are enough to pay for a new device in two-years, as opposed to the usual three to five-year upgrade period.
Maximize your employee satisfaction and boost the productivity of your staff through implementing automated systems that benefit your employee’s workflow, while minimizing costs in the workplace.