As HR faces significant influence from a new generation of graduates, and more demanding senior staff, “employee experience” holds the key to sustainability and growth.
Slide summary of the article:
Common HR considerations can be mapped out as a sequence of factors:
Acquisition > Retention > Satisfaction > Wellbeing > Performance > Compensation
- Bold indicates traditional HR goals (how the company benefits from the employee).
- Italics indicates factors that are traditionally of greater concern to the individual employees themselves (how the employee benefits from the company).
The HR Challenge:
In recent years, a lot of HR attention has gone towards bridging the gap between talent retention/performance and employee satisfaction/wellbeing.
Compensation in the form of money and ‘perks’ are no longer the primary motivation for employees, with genuine job satisfaction and personal wellbeing now forefront in their choice of employment.
As the ‘experience economy’ evolves with greater influence from today’s graduates, the link between Wellbeing and Performance is increasingly explored by cutting edge HR.
To retain and develop top performers, ‘employee experience’ is now the most promising competitive advantage for organizations to create.
Employee Experience Opportunity:
Employee Experience is fundamentally about every-day working conditions, answering the question ‘what is it like for you generally day-by-day, to work at x-company?’
Accenture’s 2016 recommendations for employee experience can be summarised as:
- Giving employees more opportunity for flexibility and diversity in their work in smaller and more agile temporary project teams.
- Connecting employee’s work to the purpose of the organization with greater visibility to the organization’s broader operations and strategy.
- Making learning and development more informal and experiential “emphasising on-the-job learning, coaching and real-time feedback”.
At the heart of employee experience is how they feel while at work… the aftermath of how they feel in evenings and weekends… and how they feel as they re-enter the office each Monday morning.
That is: Resilience to bounce back after the regular rush of work performance.
How do YOU feel day to day at work? By the end of the week..?
How do your colleagues or employees feel?
What is the overall Employee Experience in your organisation at present?