We’ve all been through onboarding at a new company and the rigamarole of reviewing and signing up for the different benefits that are offered by our employer. But did you know that there is a significant amount of strategy and work that goes into deciding exactly what benefits are needed and valuable to a company’s workforce? Recently, the approach to how those benefits are decided upon has shifted from your traditional medical/dental sign up sheet to focusing on the full employee experience and ensuring that it is a positive one.
What is the employee experience? Employee experience refers to the overall journey and interactions that an employee has throughout their tenure with a particular organization. It encompasses all the touchpoints an employee has with the company, including recruitment, onboarding, daily work activities, relationships with colleagues and supervisors, career development, benefits and perks, work environment, and ultimately, their departure from the organization.
A positive employee experience is crucial for several reasons:
Employee Engagement: A good employee experience leads to higher levels of engagement. Engaged employees are more motivated, productive, and committed to their work.
Retention: Employees are more likely to stay with a company where they have a positive experience. This reduces turnover and the associated costs of recruiting and training new employees.
Performance: When employees have a positive experience, they are more likely to perform well and contribute effectively to the organization's goals.
Employer Branding: A positive employee experience contributes to a positive employer brand, making the organization more attractive to potential employees.
Collaboration: A good employee experience fosters better relationships and collaboration among team members, leading to improved teamwork and outcomes.
Innovation: Employees who feel valued and supported are more likely to contribute innovative ideas and solutions to the organization's challenges.
Creating a positive employee experience involves several factors, such as providing a supportive work environment, offering opportunities for growth and development, recognizing and rewarding employees' contributions, promoting work-life balance, and maintaining open lines of communication between employees and management. According to Mercer’s 2023 Global Talent Trends report, only 2 in 5 employees say their company is meeting all of their needs, showing a gap for a significant percentage of the employee population and a risk for high turnover.
Organizations can measure and improve employee experience through various means, including employee surveys, feedback sessions, performance reviews and quality data analytics, like Sibly’s in real time Data Insights. With talented employees in short supply on the job market, strategic planning with real time population data is a game changer that should be driving a company’s benefits and wellness strategy.
By actively focusing on enhancing the employee experience, companies can create a more productive, healthy and fulfilling workplace that benefits both employees and the organization as a whole.