Within two years, 78% of HR leaders believe that EX will be one of the most important factors impacting firms’ ability to deliver on business objectives.”
According to Gallup, employee experience is the journey an employee takes with your organization. It includes all interactions an employee has with your organization before, during, and after their tenure. In short, employee experience includes everything from recruitment and onboarding to career development and exiting the organization.
Forrester’s Employee Experience (EX) Index shows that an engaged workforce is an important driver of business success. These engaged employees work harder to overcome barriers, better serve their customers, and stay with the company longer. But organizations that fail to properly listen to, understand, and act on behalf of their employees risk potential negative impacts such as increased employee churn, poor customer experience (CX), reputational brand damage, and alienating investors at great cost.
In short, a positive employee experience drives revenue, increases returns on EX investments, and builds a competitive brand. Yet, only 9% of HR leaders claim employee needs as their number one priority while setting an EX strategy.
Over the past year, due to the COVID-pandemic, organizations globally have witnessed how changing workforce dynamics have made employee well-being critical to the organization’s success.
This blog discusses the business impact of a positive employee experience and how EX platforms can help deliver exceptional employee experiences.
A positive employee experience translates to better quality work, enhanced workforce engagement, higher employee productivity, and acquisition and retention of great talent. Consequently, such employee benefits lead to critical business benefits, such as the following –
Having understood the business impact of a positive employee experience, let’s first understand the factors that create effective staff engagement and lead to a conducive experience.
During the pandemic, the need for work-life balance has come to the forefront as employees juggle between professional commitments and the responsibilities of caring for children/ailing parents at home. Moreover, working in silos and concerns around the virus have left employees struggling with anxiety and depression.
A recently held radio show titled, “Boosting Employee Engagement: Human Experience Management with EY, has outlined the three essential elements of a positive employee experience (EX), based on different employee needs, as follows –
Despite the financial benefits and improved business outcomes of a positive employee experience, the largely immature employee experience (EX) initiatives at many organizations leave room for significant improvement and an urgent need to close the gap between the organization’s EX strategy and employee expectations.
In today’s times, the ease of use of technology and availability of needed features is a critical factor in determining employee experience. Despite this, organizations often overestimate how satisfied their employees are with current digital processes and tools.
The above research by Forrester found that 40% of employees feel current technology is challenging to use, and over half say the technology provided lacks vital features. Approximately three-quarters said that the apps and data they need are not always accessible on desktop and mobile.
Moreover, employees switch between 35 applications that are critical to their work more than 1100 times a day. When employees have to use siloed apps or navigate multiple tabs a day, it often leads to what is commonly called login fatigue.
The primary cause of decreased productivity at work, login fatigue can seriously hamper employee experience and affect the bottom-line of an organization.
Without executive support or a designated C-suite executive for the EX practice, EX investment will be insufficient to bring about direction or a tangible change in the employee experience practice.
Many organizations lack consistent programs and the right tools to collect employee feedback. The Forrester survey mentioned above found that just 36% of the respondents have a voice-of-the-employee feedback program, and only 30% of organizations conduct an ongoing employee engagement survey.
13% of organizations don’t track EX KPIs, and 37% of HR respondents lack mechanisms to measure overall EX.
71% of HR leaders have stated that gathering real-time information about EX is challenging. In today’s digital era, organizations must leverage advanced technologies such as AI, advanced analytics, and behavioral science to study employee information and understand what drives a positive EX.
The above survey also found that HR leaders focused on corporate branding, crisis planning, and aligning employees with company culture. However, employees want organizations to prioritize remote work, employee experience, and company growth, leading to a significant mismatch in HR and employee perceptions.
Employee Experience platforms can help tide over some of the challenges mentioned above, especially with respect to collection of employee data and access to the right tools and technology under a unified interface.
But what is an employee experience platform? Simply put, it is a unified platform that brings together powerful tools for communication, collaboration, knowledge discovery, learning, and employee well-being.
Let’s have a look at some of the EX platforms that help enhance the business impact of a positive employee experience.
Announced in February 2021, VIVA is Microsoft’s latest offering in the EX space. This platform brings together knowledge, communication, learning, and insights and fosters a culture that empowers organizations to build a positive employee experience, irrespective of where the staff works from.
This platform hosts several capabilities that enable people and teams to perform their best from anywhere. Let’s have a look.
As a Microsoft Gold Partner, we, at Acuvate Software help clients from different industries deploy Microsoft VIVA to ensure maximum business benefits from positive EX outcomes.
At Acuvate, we help clients deploy a modern employee experience platform with our autonomous SharePoint intranet solution called Mesh 3.0.
Built with the most advanced Microsoft technologies, including Azure Search Services, LUIS, Office Graph, and MS Natural Language Stack, Mesh helps organizations deliver excellent employee experiences that improve key employee metrics and maximize the return from investment in EX.
Mesh 3.0 brings digital workplace features like internal communication, collaboration, analytics, content management, and AI-driven knowledge mining under a unified platform to provide personalized employee engagement.
The powerful functionalities of Mesh 3.0 are as follows –
To know more about Mesh 3.0 and VIVA implementation, please feel free to schedule a personalized consultation with our experts.
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