The secret ingredient for a better employee experience
26 Nov 2024
4 min
Today, companies are realizing that their greatest strength doesn’t lie in their products, services, or technology, but in their people. Employee experience (EX) encompasses the entire journey an employee takes within your organization, from recruitment to retirement. It includes the workplace you provide, the culture among colleagues, and, crucially, the employee benefits offered beyond salary. When this "employee experience" is optimized, the results are clear: higher productivity, stronger engagement, better retention, and a thriving organization.
For CEOs, managers, and HR leaders, improving EX should be a priority. It goes beyond simply creating a "pleasant workplace." It’s about fostering an environment where employees feel valued, supported, and confident. We have the golden tip for achieving this optimal workplace—read on to find out more.
Why is employee experience important for your organization?
Your employees perform better when they feel valued. Optimizing EX not only boosts productivity and reduces absenteeism but also attracts and retains talented professionals. Additionally, a positive employee experience contributes to a culture of strong leadership. When employees speak about your organization as a place where they feel appreciated, trust in your brand grows—both internally and externally.
A strong EX is therefore not just an investment in your people but also in the future and reputation of your organization.
How can you improve your employees’ experiences?
The key to enhancing EX is listening to what employees truly need. The secret ingredient comes from a growing trend in recent years: supporting financial well-being. Financial concerns have increased significantly, ranging from worries about student loans and pensions to rising housing costs, grocery prices—everything is more expensive, while wages are not keeping pace. This creates stress, which inevitably spills over into the workplace.
Many employers rightfully focus on mental and physical well-being. However, financial well-being often remains overlooked. Yet, 66% of employees state they need financial support as part of their benefits package (WTW, 2024). Almost half (48%) of employees experience financial stress, but only 23% of employers see it as a priority.
This presents a huge opportunity. By addressing financial concerns, you first and foremost give employees peace of mind. This allows them to focus on other matters, such as exploring what you, as their employer, offer beyond just salary. Not only does this increase their productivity and loyalty, but it also enhances their awareness of your benefits package and significantly improves the overall employee experience.
Conclusion
Enhancing EX isn’t just about grand gestures—it’s about addressing what truly matters. Financial well-being support is a powerful yet often overlooked factor that can make a big difference. Do you want to provide the best possible support for your employees and help your organization thrive? Start with what they genuinely need, and get in touch with us.