More organizations are catching on to the benefits of enhancing the employee experience – but what is EX exactly?
Companies are ditching the traditional, outdated, and stiff processes of HR for innovative digital workflows that enhance productivity and employee satisfaction on the job.
What does it all mean? Improved employee experiences lead to higher retention of your top talent, as well as significant increases in revenue as the company streamlines the workplace.
Research shows that millennials will account for almost 75% of the workforce in the next 5-years. Gen Z is another rising cohort set to start changing the way companies do work as well.
Both millennials and Gen Zs demand a workplace experience that brings with it the autonomy and flexibility they now expect as consumers.
Millennials and Gen Zs are also looking for meaning in their work. They also want a connection to the organization through supportive management structures that encourage initiatives like learning and mentoring.
The Changing Workplace
The shift to enhancing EX correlates with the changing nature of the workplace and how employees do work. Today’s technology provides opportunities to improve productivity in the workplace. Currently, there are automated workflows that can replace at least 45% of all employee tasks at work.
With automated workflows, employees have the chance to focus on business activities that matter, enhancing productivity while increasing revenues.
How employees interact with management is starting to change. Employers are beginning to catch up to the fact that they need to reimagine every aspect of the workplace. From hiring to onboarding, employee benefits, and across all departments, from HR to sales and legal.
The Coming Talent Crunch
The global skills shortage is starting to build steam. More companies are finding that it’s not very easy to hire and retain top talent. Companies working in competitive industries like tech require the best people to help the organization succeed.
When top employees leave, it causes a ripple throughout the entire organization. Those companies that start focusing on providing top-quality employee experience are in the best position to win the war for top talent in the coming decade.
The Employee Experience into the Future
EX is companies working with their people to create authentic and personalized experiences that tap the purpose in employees while igniting a passion for their work. The best EX brings teams together from all departments, integrating communications that help to improve business efficiencies.
Implementing EX requires a people-centric approach that grasps employee’s desires and needs in the moments of their career that matter.
The employee experience is the key to business success as we move deeper into the digital age. Those companies that manage to implement a successful digital transformation will experience better employee retention, enhanced organizational synergy across all departments, and higher rates of employee engagement.
However, organizations must work with their employees to deliver a holistic, user-friendly digital workplace that benefits employees. The employee experience is the next solution for organizational growth in 2020 and beyond, is your company doing everything it can to enhance EX?