Are your employees leaving?
Attrition isn’t uncommon, but it can be expensive. So, what do you need to do?
There’s no magic recipe to eliminate attrition altogether. But there are ways to change the tide, increasing retention rates, and employee loyalty. And it can all be summed up in a single word: listen.
Listen to what your employees are saying, their expectations, concerns, and dislikes. Listen to what they love about your organization. And act on what they’re telling you.
Listening is a simple enough concept, but when you’re trying to implement this in a large organization, it can be an absolute challenge. After all, when you hear once voice, you know what it’s saying. But with hundreds of voices coming together, the cacophony can be deafening.
To make sense of the barrage of insights, employee experience management solutions are the answer.
What is an Employee Experience (EX) Management Solution?
Simply put, it’s platform or a solution that offers you the tools to not only measure, but analyze, employee sentiments, gauge engagement, and understand the experiences they have in order to improve.
Employee Experience Management Solutions like SogoEX do much more than simply gathering feedback from employees through surveys and pulse checks. SogoEX helps you break down the feedback into actionable insights so you can drive your strategy based on data itself. With powerful analytics and features, you can get laser focused insights into the factors affecting different teams, spot churn signals early on, and much more.
Why do I need an EX Solution?
There are endless benefits to investing in an employee experience solution. But here are the top 5 reasons you absolutely should consider it (if you haven’t already).
1. Higher Retention Rates
Let’s start with one of the top HR problems, shall we?
Employees often switch jobs and leave companies because their needs or expectations aren’t met at the current designation. Today’s employees are looking for a lot more than a competitive salary package – they’re looking for a workplace that truly listens to them, where they can add value to the process, and feel like a part of the team.
How does an EX solution help?
You will be able to identify the engagement drivers across teams to see the different concerns and obstacles that employees have. After all, there is no one-size-fits-all approach when it comes to employee engagement. By deep diving into experiences across teams, you have a more detailed perspective of what works and what doesn’t, allowing you to truly address the problems at hand.
By doing so, you’ll be able to ensure that employees feel more engaged, listened to, and therefore motivated to do more – directly impacting retention!
2. Better Productivity
When you focus on giving employees what they want, you’ll be rewarded with employees who are more invested in the success of your company. These are the people who take ownership of the work while going out of their way to ensure tasks are accomplished.
But at the core of creating an environment propelled by productivity is an organization that truly understands its employees.
Don’t be afraid of providing offerings and benefits that aren’t the norm – so long as they appeal to your target audience: your employees. That’s where data can be really helpful. By creating a data-driven HR strategy, you’ll be able to better understand what appeals to your people and what doesn’t. Perhaps that wellness stipend that you offer doesn’t really incentivize your employees but instead they’re looking for more vacation days. EX solutions help you capture the data you need to personalize your HR strategy and drive innovation.
3. Improved Communication
Engaged employees are also a lot more collaborative! After all, they have one common goal in mind: company success.
By aligning their vision and goals – and removing organizational silos – you can create teams that are highly collaborative and communicative, focused on helping each other achieve more. Apart from simply delivering on employee expectations, a key way to get started can be by creating a culture of recognition.
In a space where employees appreciate each others’ efforts and work, you’ll notice that people are a lot more receptive to improving. This can be done with recognition awards where team members nominate one another, or it can also be done with a recognition software like SogoMatic which helps you share positive encouragement with your teammates.
4. Positive Brand Reputation
Happy people love to talk.
An engaged and happy workforce will share their experiences with others, perhaps even online, and will be more than willing to give you a great review – after all, it’s the truth!
In doing so, you’ll be able to create a strong online reputation, attracting top talent and retaining the current employees as well.
5. Increased Profitability
When you create an experience employees love, you’ll be rewarded with more than loyalty. You will have employees who are more proactive, productive, and involved in the success of your company.
And what makes this deal even sweeter is studies that show the direct benefits of this on your bottom line. Did you know that companies with high employee engagement tend to be 23% more profitable than their counterparts?
The reason? It’s a domino effect!
When you ensure that the foundation (employee experience) is optimized, you’ll have more productive and collaborative employees. This will in turn improve the efficiency of your organization as employees focus on achieving more, better.
You’ll notice an uptick in innovation as employees feel empowered to do better, thereby delivering better products, better service, and truly resonating with your customers. The end result? A better bottom line.
Transform your work culture
The right employee experience platform can help you capture candid feedback to reveal insights that truly transform the way you work.
That’s why it’s essential to not only follow the best practices, but also look out for solutions that match your use cases, align with your goals, and deliver the best value.
While employee experience has suddenly gained plenty of popularity in recent years, the top companies in the world have already been investing in delivering a data-driven, personalized EX – and they’re reaping the benefits.
After all, your employees are your biggest assets – invest in them!
