5 Ways Employee Experience Achieves Organizational Success

What is the employee experience, and why is it so critical to invest in workers’ satisfaction?

Improving the employee experience is the top priority for over 50% of HR and business leaders nationwide. Why? Because they recognize that satisfied employees are the foundation of a resilient team and a strong company. 

That being said, what employees value as part of their work experience has changed drastically in recent years. Let’s go over precisely what the employee experience is and why it's key to invest in it:

The employee experience explained

Employee experience encompasses every experience an employee has with an organization throughout working there, from hiring and onboarding to career development and offboarding.

This experience is not defined by one or two grand employer gestures per year. It's the result of consistently improving the workplace and making it more attentive to the team's needs and desires.

Meaningful employee experiences are made up of the following:

• Purposeful and fulfilling work

• An open, flexible, and collaborative environment

• Career and development opportunities

• Honest and competent leadership with a clear vision

• A focus on employee wellbeing—mentally, physically, and emotionally 

Why you should invest in your employee experience 

Improving employee experience can manifest itself in many different ways. What you focus on will vary depending on your organization and your people. And understanding the why behind what you’re doing is critical before making changes. Here are some of the largest benefits:

1. Reduces employee turnover

Engagement is a big theme in HR these days, especially as more of the workforce goes remote. When employees feel valued and engage in purposeful work, engagement rates increase, which is crucial for the company's health. A highly engaged workforce can reduce a company’s turnover rate by up to 59%.

2. Employees feel invested and connected 

When an organization invests in its employees at every opportunity, teams are more likely to feel connected to their work. Onboarding is a critical piece of the employee experience because it’s a series of ‘firsts’ as the individual gets to know the organization's values and priorities. And 91% of workers who received effective onboarding and training feel strongly tied to their company and position.

3. Companies attract higher-quality candidates

A great employee experience earns you a reputation as a great place to work. Companies that invest in it are more likely to be included in lists like Fast Company’s “Most Innovative Companies,” Glassdoor’s “Best Places to Work,” LinkedIn’s “Most In-Demand Employers,” and the American Customer Satisfaction Index.

Accolades like these tell candidates that your organization treats employees with greater care than others. As you improve the employee experience, you will probably start to notice your applicant pools increase in size and quality with each opening.

4. Prioritizes employee wellness

As more organizations transition to flexible scheduling and remote work, the employee experience becomes even more important—and prioritizing wellness is a core component. Remote work has indeed been linked to an increase in productivity, but 20% of remote workers also report feelings of loneliness and isolation. 

How are you addressing this issue or the myriad of other wellness challenges facing today’s workforce? Benefits, effective management, flexibility, and a safe and open atmosphere are all elements of an experience that communicate compassion and understanding.

5. Increases company revenue

A tremendous employee experience prioritizes people above the bottom line. But interestingly, it benefits both. Experiential-based companies average four times as much profit and two times as much annual revenue as others.

Job satisfaction = organizational success

A better employee experience leads to greater job satisfaction and overall organizational success. How this is put into practice will vary by company, as not all individuals want the same things, and not every method works for every organization.

Dedicate time to evaluating your current experience, identifying the core elements, and consistently working to better the experience, and you will reap immense benefits.

Carrington Legal Search is celebrating 20 years in business: we were in the trenches with our clients during 9/11 and 2008. We partner with our clients to identify leaders and mission-critical talent to shore up and grow companies even during the most challenging times. We are here for you! To make our nationwide network work for you, get in touch at 512-627-7467 or email carrie@carringtonlegal.com.