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Did you know that businesses that invest in employer branding record, on average, 2.5% increase in profit margin and a 3.5% revenue growth?
A positive employee experience can deliver on traditional EVP (employee value proposition) metrics of talent retention and attraction as well as improved brand perception and purchase decision making that can ultimately lead to sales. This viewpoint changes the HR (human resources) function from being a cost centre to one that adds value and contributes profits.
what is employee experience?
Employee experience is a differentiating factor in attracting talent, sustaining loyalty and fulfilling an employee’s potential.
Studies have consistently highlighted that a positive employee experience translates into improved customer experience, an enhanced employer brand and higher profitability.
However, most organisations are still missing out on the real benefits employee experience and strike out in connecting how it impacts customer experiences and the bottom line.
Employee experience is made up of three factors - how employees work, the environment that they work in and how they feel about their job. The ‘how’ includes the manageability of their work and the support they receive at work, such as flexibility, autonomy and work-life balance.
why is employee experience important?
Multiple global studies and HR experts discuss the correlation of employee experience, business performance and return on investment.
Organisations that excel in delivering excellent employee and customer experiences, have on average, 1.5 times more engaged employees than organisations that do not. Happy employees are 31% more productive at work than unhappy workers, and it shows. Companies with engaged employees record 37% higher sales, enjoying the health and wealth benefits that come with employees’ satisfaction.
According to our annual global Employer Brand Research, people are constantly looking for improved work-life balance, greater flexibility and more meaning in their careers from organisations. Having a people-first strategy enhances the employer brand, thus making it easier for companies to recruit and engage with great talent to stay ahead of the competition.
what does it take to deliver a great employee experience?
In our 2019 white paper, titled ‘employee experience - the first step in the customer journey’, we explore how companies can effectively and successfully improve its employee experience strategy. Most importantly, HR teams must know how to reap the dividends to ensure a sustainable and consistent HR strategy.
download a full copy of the white paper: 'employee experience, the first step in the customer journey'
Your employer brand is the most powerful tool you have in attracting and retaining the people that can ensure business success.
Using the latest results from our annual Employer Brand Research and from our interactions with some of the leading HR leaders in the world, the white paper provides unique insights into the world of work and an actionable framework to ensure that HR continues to play a business-impacting role in your organisation.