If your goal is to win the war for talent, put employee experience first and foremost. You will not only attract professionals with the best skills, but you will also put them in a position to exceed expectations... while retaining them..
Have you seen any recent job postings? If so, you’ll notice a trend of enticing benefits listed in the posting: healthcare, PTO, 401(k), maternity/paternity leave, professional development. And the list goes on and on. Some perks are fairly untypical, which makes them even more appealing. For example, we need only think of Clif Bar & Company's 33-foot bouldering wall or Dropbox's music room. Not to mention Scripps' pet insurance and Ask's unlimited vacation time. So why has this trend taken root? The war for talent, of course!
Silicon Valley, the top dog in this war, might be in a decline as things change in the global workforce. We don’t think there is anything wrong with change, though, as change can bring about a cultural shift to become more empathetic, inclusive, and humanistic. Perks aside, the company’s culture is a great part of its success or decline. After all, the success of any organization, whether small or large, depends on the number of skilled individuals it can attract.
Why is employee experience?
44% of professionals pointed to benefits as a prime factor that could keep them at their company. (format: quote)
We previously mentioned untypical benefits at workplaces. Companies are trying to stand out from a crowded field that contains more job postings than candidates. However, the benefits stated in the survey also indicated it wasn’t the unusual perks such as “food, gyms, and game rooms” but “strong workplace benefits, like health coverage, PTO, and parental leave” that meant they would stay at the company for more than five years.
We believe the employee experience speaks more to the employee’s personal journey that keeps them motivated and engaged. Keeping your family healthy and happy while being able to spend quality family time is more appealing than having a slide take you from the third story rather than bother with stairs. As we love to say, although a captivating cover can sell a book, it’s the story that keeps readers interested.
Employees must feel that they have a good fit with their work, through both their job responsibilities and the benefits that keep them inspired. Take a look at this 62-page thought-provoking study on individual fit at work for a more in-depth look into this area.
So, if perks are just a part of all the benefits offered, what are the other elements that make for an excellent employee experience? Jacob Morgan’s 17 Employee Experience Variables is a great place to start, so we’ll list them off.
- Available, state-of-the-art technology that meets the workforce's needs.
- A workplace that is cool, flexible and reflects organizational values.
- A culture where:
- Managers act as coaches and there is a possibility to grow by learning new things.
- Everyone feels valued and part of a team.
- There is a sense of purpose and belonging.
- Individuals' health and well-being come first.
- Being part of an organization that impacts the community/world meaningfully.
Now, the benefits of an awesome employee experience do not end with talent retention. They go well beyond by positively affecting metrics such as talent attraction, engagement, performance, customer experience, and sales. Therefore, if you have not done so yet, start focusing on the 17 attributes you see in the picture above.
Indeed, a thorough study by Jacob Morgan revealed:
"Those companies that have invested most heavily in employee experience have been included: 28 times as often among Fast Company’s Most Innovative Companies; 11.5 times as often in Glassdoor’s Best Places to Work; 4.4 times as often in LinkedIn’s list of North America’s Most In-Demand Employers; 2.1 times as often in Forbes’ list of the World’s Most Innovative Companies; twice as often in the American Customer Satisfaction Index".
Inclusion on these lists of innovative companies, best places to work, etc, is a prestigious acknowledgment that goes beyond merely putting a plaque on the wall. It says to potential candidates this company cares about the well-being of its employees. Glassdoor, in particular, is a great place to research a company before considering hiring on. With the ability to read actual employee reviews to get an insider’s viewpoint at what it’s like to work for the company, companies now have to offer the best incentives to combat potentially bad reviews. Of course, not everything you read on the internet is true and Glassdoor does not have a verification process, so both good and bad reviews should not be taken as full fact. But being included in the best place to work list? That in itself is a fantastic way to prove your employees enjoy their workplace.
If your goal is to win the war for talent, put employee experience first and foremost. You will not only attract professionals with the best skills, but you will also put them in a position to exceed expectations... while retaining them. Keep your employees happy, healthy, and satisfied with their work-life balance and job responsibilities to encourage employee loyalty and hard work. We promise you’ll see an increase in productivity with engaged employees working for a company they believe in wholeheartedly.