5 Benefits of Personalized Employee Experience
Benefits of Personalized Employee Experience – By now, you must have heard plenty of things about personalizing the customer experience and the many benefits it can bring to your business. But what about personalized employee experience?
In order to attract and retain qualified employees, it is crucial to make sure that your employees don’t feel like just another cog in the wheel. There are many different approaches to personalization, ranging from fostering strong relationships with supervisors to recognizing employees for their good work.
Personalizing employee experience comes with a host of benefits for both your workers and your organization. In this article, we’re highlighting some of the most important ones.
1. Improve Employee Retention
Employee turnaround has been a problem for businesses of all sizes, especially larger companies. Studies have shown that more than 37% of employees left their company within the first year and that two out of every three employees who quit in the first year do so in the initial 6 months. This tendency shows no signs of slowing down. In fact, about 40 million people search for jobs on LinkedIn every week. And with the pandemic forcing a remote work revolution, location has become irrelevant in job searches.
So, how do you make sure your team members are satisfied and won’t join these 40 million job seekers? The answer is – by personalizing their experience. Make sure they feel appreciated by recognizing their achievement and hard work. Other ways to engage your employees include creating growth opportunities, maintaining transparent communication, and providing support for personal issues.
The bottom line is employees who feel engaged are more likely to take a genuine interest in the organization’s growth. In other words, if they are personally invested, they will be less likely to leave.
2. Increase Employee Engagement
Let’s talk some more about employee engagement and why it is important for your organization. The term essentially refers to how connected and committed an employee feels to the company they work at. Engaged workers are usually more interested and put in more effort at work because, as we mentioned before, they feel personally invested in the organization’s progress. In fact, studies have shown that companies with highly engaged employees have a 36% higher employee retention.
To achieve this, you need to continue investing in forming a more personal connection between your company and your employees. Some of the ways in which you can build employee engagement are giving rewards for good performance, such as some of the best virtual gift cards, conducting regular evaluations, establishing talent mobility programs to optimize employees’ skills, etc.
3. Get Valuable Insights
Personalizing your employee experiences can help you understand what motivates each member of your workforce. Personalization through polls, pulse surveys, and digital onboarding can provide valuable data by providing answers to questions such as: What do employees like about the organization? Are they feeling any discontent? What are their expectations from you? How do they see themselves growing in the company?
These valuable insights can be used to create initiatives, tailor communication, make decisions about what employee benefits to invest in, and form strategies for attracting and retaining top talent, all with an aim to further improve employee satisfaction.
4. Grow Your Business
A study by KPMG showed that businesses that invest in employee experience are 4 times more profitable than those that don’t. Moreover, businesses with highly engaged workers outperform their competitors by nearly 150%.
Personalizing employee experience helps employers form stronger bonds with their employees. If employees feel that the company is there for them when it comes to any obstacles and problems that might get in the way of growth and performance, they become motivated to give their best to their work. This translates to increased productivity, better efficiency, and, ultimately, increased profits.
5. Make Work a Better Place
Personalization can also extend to the workplace. Personalized employee experience can help you create a productive, healthy workspace that fosters teamwork, inspires growth, and where every team member feels happy to come.
If your budget allows it, consider offering unique facility features such as rooftop basketball courts, on-site daycare centers, etc. that your employees can easily access to better meet their well-being needs. You can also let them vote on themed rest areas and meeting rooms.
When it comes to personalized employee experience, the most important thing is to remember that your workers’ needs will evolve over time, which is why it’s crucial to have regular check-points. One-on-one conversations and company-wide surveys are a great way to keep leaders in tune with any changes but, at the end of the day, organizations that invest in personalizing their employee experience stand to reap many rewards.
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