How Can Technology Enhance the “X” Factor in Employee Experience?

According to The Economist Intelligence Unit study, 81% of the global firms agreed that employee experience is the dominant topic of discussion amongst their leadership. In today’s world of agility and dynamism, employee experience has become as important as customer experience for most companies. Increasingly, many organizations have invested in technology and employee experience platforms to make their workforce feel valued.

In this context, the question remains what is the relevance of employee experience in the Organizational ecosystem and what can organizations do to improve employee experience?

To better understand this, let’s first get to know what is in the minds of the CEOs and Boards, where they place employees in their priorities. The real Business growth is driven by the workforce within the organization as much as its customers. A recent Gartner Survey shows the Concerns of the CEO and the Board. Growth has been their top priority over the years. Still, surprisingly Workforce management which includes EX, hiring, and retaining talent, has become their next top priority, and they are not far off from overtaking the top position. And for the 1st time, Sustainability is ranked in the Top 10 priorities. That’s an important topic for another day.

When it comes to customer experience, businesses have always been emphasizing delivering exceptional experiences. In recent years, however, the employee experience is gaining just as much (if not more) significance. The reason is simple – happy and engaged employees lead to happy and engaged customers. This blog post will explore why the employee experience is so important and how you can improve it in your business.

In another Forrester Survey, when the leaders were asked the question – To what extent have your organization’s EX initiatives impacted the business outcomes

Why Does Employee Experience Matter?

Good employees are your greatest asset, and so it is crucial to ensure they stay with you longer to contribute towards business growth and success. As Jacob Morgan, the author of The Employee Experience Advantage, rightly stated, “In a world where money is no longer the primary motivating factor for employees, focusing on the employee experience is the most promising competitive advantage that organizations can create.”

Here are some statistics to support the fact on why employee experience matters:

• Organizations that invest in their people are 5x more likely to appear in Glassdoor’s Best Places to Work reports Harvard Business Review. That’s not all; these organizations are also 4.4x more often a part of LinkedIn’s list of North America’s Most In-Demand Employers.
• Companies focusing on employee experience management are 2.1x as often included in the World’s Most Innovative Companies list by Forbes.