Creating the perfect employee experience, engagement, and satisfaction bring mutual benefits to employees and employers. The challenge is identifying the right solutions to augment the core human resource management system. Together, they can produce the desired results for the organisation.
At present, there are a number of tools and systems organisations can choose from. We’ve discovered 4 of the most effective ones that can elevate employee experience, engagement, and satisfaction to a higher level. But before we delve into a discussion on these tools, let’s examine the subject of employee experience management. The latter is gaining prominence in people management and development.
Why employee experience makes a difference
Traditionally, employees have been treated as assets. They are managed and nurtured in the same vein as other non-living assets in the organisation. On this note, the term human capital management, or HCM, made a lot of sense. However, at a time when technology is unleashing human potential to greater heights, HCM falls short in capturing this evolution.
On the other hand, human experience management, or HXM, positions employees as the epicentre of an organisation’s success. Here, the keyword is experience. Why? A great experience positively impacts motivation; highly motivated employees become deeply engaged; engaged employees boost productivity; productivity drives business success.
The concept of human experience management gave birth to employee experience gap. Inevitably, there are differences between the way employers and employees think. The task is to narrow or remove these gaps. Let’s explore how the 4 tools discussed below can help. They can be added to your organisation’s core HR systems.
1. Tools to reward and recognise
Let’s look at the statistics:
i. Organisations with a well-developed reward and recognition system are 12 times more likely to attain positive business results
ii. Organisations that spend 1% more or greater of their payroll on a reward and recognition system will experience 85% positive impact on employee engagement
iii. Organisations with a well-organised reward and recognition system experience less than 31% in turnover rates
iv. Organisations with peer-to-peer reward and recognition system achieve 41% higher scores in customer satisfaction
An organisational culture that acknowledges and appreciates employees’ contribution will attain higher employee motivation, engagement and productivity. This will lead to positive business results. Although organisations recognise this, they are bereft of ideas of how to reward and recognise their employees.
2. Tools to facilitate employee feedback
Thanks to advances in digital communication technology, people are growing accustomed to providing feedback. It’s increasingly common for people to voice their deep-seated thoughts and feelings on almost anything. This feedback and review culture has now permeated the workplace.
Today, employees expect feedback and reviews of their work, not only from their superiors but peers as well. To an extent, it is closely tied to the system of reward and recognition. The impact of an employee feedback program is evident in these statistics:
i. Organisations experience a 15% lower rate of turnover with an employee feedback system
ii. 43% of strongly engaged employees are giving feedback regularly
iii. Immediate feedback is preferred by 80% of Millenials
With an employee feedback tool, organisations will have a structure and system to collate them. It can help promote two-way communication between employers and employees too. This will result in better teamwork, facilitate career growth, raise productivity and generate better business results.
3. Employee survey tools
Listening to the voice of employees is important. Organisations tend to forget employees are stakeholders of the business and brand too. With employee survey tools, organisations can keep track of the gaps in employee motivation, engagement, satisfaction and company culture amongst others. Insights can guide actions to be taken to narrow the employee experience gap. But taking action is vital. Research has shown only 1 in 5 employees believe employers will act on survey results.
4. Employee health and well-being
The importance of ensuring employee health and well-being has been given more attention in recent years. From helping them to maintain a healthy work-life balance to physical and mental well-being, focusing on this aspect of the human experience management is rewarding to both the organisation and employees.
It has been discovered that for every dollar spent on an employee health and well-being program, it saves the organisation $3.27 in healthcare costs. This is a significant saving. Add the positive impact it makes on employee motivation, engagement and satisfaction, the return on investment is one not to be ignored.
A healthy employee is a happy employee. When employees are in that state, the organisation is in good hands. Employees will be driven to excel in the workplace.
Human experience management is central to unleashing the full human potential. With machines taking over mundane tasks, people can take on more higher-order tasks. Adding the tools above to the core HR system will be essential.