Do Employee-Centric Strategies Boost The Bottom Line?

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Creating, and consistently delivering, a great customer experience is an operational cornerstone of the world’s most successful brands. But what about delivering the same caliber of experience to employees? Hiring managers and human resources departments need to audit their organizational approach in putting employees first, or risk losing the battle to recruit fresh talent and retain top performers.

No doubt, there are companies that believe their workers are happy to simply have a job and collect a paycheck – but with today’s competitive job market that’s a risky approach. That’s because findings from research conducted by NTT DATA Services have revealed that enterprises who put their own employees at the center of their growth and transformation strategies reap significant rewards in so many areas – including higher returns.

Creating an environment where employees want to work involves more than simply providing advanced technology resources or comfortable work spaces. An optimal employee experience results from a variety of factors. The integration of current technology and the physical environment are top of mind. But a strong, demonstrated corporate culture, diversity and inclusion efforts, employee performance benchmarks and skills development play a key role as well. The common denominator is engagement with—not just communication from—leadership.

Most employees want to perform, grow as professionals and add value to an organization that cares about them. When you invest in creating exceptional employee experiences, employees are not only more productive, more profitable, they also tend to stay with the company longer. For companies, the results are quantifiable where the bottom line is concerned.

In North America, the impact of the ongoing skills shortages, as well as different preferences among a multi-generational workforce, prompted us to look deeper into the impact of employee experience on the workplace, and how well companies who put employees at the heart of their strategy performed relative to peers who did not. In addition to seeing a more innovative culture develop within the enterprise, our research indicates that of companies with a strong employee experience strategy 78% reported enhanced revenues and a 69% a stronger recruitment pipeline.

All of this, in turn, triggers an ongoing cycle of high employee engagement, driving high performance and fueling innovation—thereby gaining additional customers and potential revenue.

This kind of transformation cannot simply be accomplished with higher pay or occasional “team” outings and events. Employee engagement done right is a multi-faceted process, requiring a thorough understanding of your workplace as experienced by employees. So where do you start?
Consult with your team members at every level. Ask for their feedback, opinions and suggestions regarding their work environment. Make note of it all. Take them seriously. An engaged workforce is an invested workforce.
Keep track, measure your progress, and adjust if needed. Vendor partnerships, measurement strategies and stress testing are valuable tools that can keep you on track and headed in the right direction.
Keep your employees as the focus of the process – not costs, or convenience, or a calendar. Creating an environment where employees want to work is the goal. Get it right and you’ll not only be more likely to keep your top talent, you’ll become a “trophy destination” for other top players who can help forge your competitive advantage and boost your ROI.
Challenge resistance to change by using employee feedback surveys, end-user consultations and strong organizational change management strategies to ensure that employees’ needs are understood and met – and result in a positive impact on the bottom line.
To summarize, a well-planned workplace that places a premium on employee-centric strategies can develop the foundation bedrock that leads to improved business metrics. If your organization is committed to having the competitive edge, the answer lies within.

https://www.hr.com/en/magazines/talent_management_excellence_essentials/november_2019_talent_management/do-employee-centric-strategies-boost-the-bottom-li_k2zqqbl4.html

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