Whether its a software engineer at a trendy startup whose biggest challenge is choosing between three different kinds of kombucha, or a coal miner working in dark, cramped tunnels, with nary a canary in sight, they have got one thing in common. Their employee experience.
While nobody knew to call it employee experience back in the day, it has been around as long as employment itself. And unless you’ve been living under a 3D printed rock, you will likely know that, in recent times, the specific term “Employee Experience” (also known as EX) has become a phrase du jour in the business world.
🪨: But Kalle, I do live under a 3D printed rock, what is EX exactly?”
Thanks for asking. In short, EX is an umbrella term for everything an employee engages with from the day they step into an organisation to the day they wave goodbye. Essentially, everything that they engage with as an employee, from internal communications to the tools they use. Does that make sense? … I see you creeping out from under your 3D printed rock.
🪨: Yeah, I think that makes sense, but so what? Why is it important?
Well, imaginary sub-3D-printed-rock-resident, let me tell you why. When the Employee Experience is EXcellent (see what I did there?), people are more likely to stick around, be more engaged, and, in many cases, be more productive. So, it’s a pretty big deal for companies who want to keep their employees happy and hanging around. All of which has an impact on the bottom line.
🪨: Ok, I’m definitely interested now. You sound like a bit of an expert. Tell me more
Ah cheers, I’d even go so far as to say I’m an EXpert. Too much?
🪨: I’ll let it (rock)slide this time Kalle. But you’re going to have to give me some actual data to back up what you’re saying
Well, we used to say “Data wins arguments” at Meta, and I’m happy to report that there’s mounting research evidence from the real experts to say that organisations that invest in employee experience see better financial outcomes. Gallup’s research has consistently highlighted that teams with high employee engagement outperform those with lower engagement.
🪨: Wow, cool. What about retention? Are there any numbers that sway that way and make people stay?
Great question my poetic pebble dweller. Most definitely, yes. Willis Towers Watson’s Global Workforce Study revealed that organisations with high employee engagement levels had a 65% greater share price increase, 26% less employee turnover, and 20% greater productivity compared to organisations with low engagement levels.
🪨:You mentioned revenue impact before. Where is that? Show me the money!
No problem my fictitious friend. How about this? Deloitte recently revealed that companies prioritising employee experience can be up to four times more profitable.
🪨: “4X my revenue!? Think about how much we could 3D print”
Exactly. It rocks! But here’s the fascinating part. According to Lippincott only 1 in 4 companies do Employee Experience well, so the opportunity is huge right now.
🪨: Ok sweet, so what can I do about it, apart from go back under my 3D printed rock and ignore it?”
Well, there are two stone cold truths I reckon:
- Get in touch with me to start a conversation about your Employee Experience and how I might be able to help, whether that is strategic comms support (always a great place to start) or an essential workshop to revitalise your EX.
- And as a bonus EXtra, you should take a look at the LinkedIn webinar I did earlier this year for TBWA on the topic of Employee Experience. Top tip: It gets into the main stuff just after the 6 minute mark.
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