As employers continue to explore solutions to overcome the challenges associated with hiring and retaining talent today, a new trend has emerged in recent years that is becoming more important and impactful.
Only a few years ago, businesses large and small emphasized employee engagement as a talent management strategy, and one that had an even greater impact on employee retention.
And while employee engagement is still important, employers are instead focusing far more on a concept that encompasses engagement – the employee experience.
But why is employee experience so prominent today, and why are many HR leaders and experts encouraging even the smallest of employers to dedicate time and resources to improve it?
It’s because employee experience intertwines with many areas of talent management, starting with the fact that…
THE EMPLOYEE EXPERIENCE INFLUENCES EMPLOYEE ENGAGEMENT
We already mentioned that employee engagement is still an important factor for employers to build and improve despite the greater efforts on employee experience.
This is because engagement is one component of a great employee experience. And it’s important to remember that employee experience includes all their interactions with their employer – from applying to a role until they leave the organization.
Getting employees engaged from their first day on the job can lead to a far better experience throughout their tenure with an employer.
But one outcome of high employee engagement is often seen as most beneficial to employers and that’s…
ENGAGEMENT BOOSTS EMPLOYEE HAPPINESS AND MORALE
One of the reasons why employee engagement became the go-to talent management strategy was the impact it had on boosting happiness and morale within the workforce.
It’s well documented that happy employees tend to be more productive, which obviously benefits employers in the short and long-term.
But employees who are happy also report having a much more positive experience in their role and with their employer.
And this is extremely important to business leaders because…
HAPPY EMPLOYEES ARE LESS LIKELY TO LEAVE (A.K.A HIGHER RETENTION RATES)
Besides compensation, one of the main drivers for an employee to explore other opportunities is their level of happiness in their current role and with their employer.
To help improve happiness and ultimately boost retention, business leaders are taking actions and revamping talent management strategies by:
- Adding new workplace perks
- Offering voluntary benefits
- Improving compensation
- Providing training and learning programs
- Asking for and acting on employee feedback
These are just a few things employers (including small businesses) can do to improve their retention efforts, which is a must because…
HIGH RETENTION RATES HELP BUILD A GREAT COMPANY CULTURE
A common goal for employers is to either build a great company or take the steps necessary to improve the existing culture within a business.
Organizational culture can influence whether an employee has a positive or negative experience with their employer. And having a high retention rate is one of the best ways to create a best-in-class culture.
Employers who struggle with retention often see their culture take a hit because of the roll employees play in building the company culture.
If employees routinely leave the organization, it is extremely challenging to build a culture that fosters happiness and productivity. And this could cause even more challenges for employers because…
COMPANY CULTURE FACTORS IN TO RECRUITMENT
Earlier is this blog we noted how recruiting is a challenge for all employers today. Job seekers have more options available to them than ever before, which means that they can be extremely picky when exploring new roles.
And one factor that job seekers DO consider is what a company’s culture looks like.
Sites such as Glassdoor and even LinkedIn have made it easier than ever for job seekers to get a sense of what it would be like to work for an employer, and companies have taken notice by building their employer brand around their culture to attract and hire top talent today.
As recruiting continues to become more challenging, employers will need to take steps to improve their recruitment strategies, such as improving their candidate experience, or risk missing out on potential new hires.
And when it comes to engagement, happiness, retention, company culture, and recruiting, employers must remember that…
THE EMPLOYEE EXPERIENCE IMPACTS ALMOST ALL ASPECTS OF TALENT MANAGEMENT
As employers look for ways to boost recruiting and retention efforts, along with other things like company culture, it’s important for leadership to understand the role employee experience plays today.
Forward-thinking employers are strategically exploring and implementing resources that are aimed at boosting the experience employees have at work in the hopes of (ultimately) boosting retention, building their culture, and making it easier to recruit new staff.
Small employers, too, must take note of this talent management shift or risk falling behind in the competition for top talent.
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