Consultants, CHRO practitioners, and analysts all say one thing: employee experience (EX) is critical.
EX is also becoming vital as companies battle over talent and look to retain the brightest minds within their four walls.
However, the problem lies in translating these theoretical EX ideas into practice. It is what nearly three-quarters of companies around the world are struggling with.
The results are based on Kincentric's 2019 Global Employee eXperience (eX) Report.
Over 1,300 HR professionals across 43 countries were asked about EX. Eight out of 10 (79%) believe it has a business impact – yet less than a third (28%) feel equipped to deliver this strategy.
Kincentric believes this status quo will change. According to the results, as interest outpaces readiness, more companies will be getting serious about investing time and energy to improve their employee experience. More than 90% of companies say it's essential, and just under half (44%) of respondents are currently working on improving the experience across critical stages in the employee lifecycle.
"Employee experience is all about how culture and engagement come to life in moments that matter to both the organization and employees -- the ups, downs and transitions, and how these moments inspire, improve and connect. Getting too many of these moments wrong destroys value through the loss of productivity, turnover, and poor customer delivery," says Ken Oehler, senior partner and leader of Kincentric's Global Culture and Engagement Practice.
“Getting many of these moments right ignites change and unlocks the power of people and teams,” he adds.
However, Kincentric notes they will need to close gaps in strategy, measurement, and delivery to realize the experience they want to create.
So, what about the 28% who seem to be delivering on their EX vision. According to the survey, they are taking an agile approach to strategy, measurement, and delivery of the employee experience, to design one that aligns with their business needs. Key findings include:
● As many as 84% have identified the employee segments and experiences that matter most to their business strategy
● Over two thirds (67%) clarify their hypotheses, decisions, and actions before jumping into measurements
● The key to success is to develop an experience strategy that focuses on business, behaviors and change readiness
● Nearly three quarters (74%) are clear on the HR governance, roles and decisions to support the organization in delivering the desired experience
"It's time for organizations globally to get serious about their employee experience strategy. High-performing cultures come from highly engaged employees having meaningful experiences throughout the employee lifecycle," says Oehler.
Photo credit: iStockphoto/grinvalds