Download - SHRM Employee Experience 15 June 03
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Improving the Employee ExperienceUnderstanding the Relationship Between Employee Satisfaction, Engagement and Future Behaviors
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Employee Replacement Is Expensive
“… it costs businesses about one‐fifth of a worker’s salary to replace that worker.”
~20%
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THE EMPLOYEE EXPERIENCEIS MORE IMPORTANT TODAY
THAN EVER BEFORE.
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Science to Leverage Varying Employee Attitudes
Source: The AnswersTM American Employee Study: A New Perspective on Employee Attitudes and Behaviors, November 2014
ENGAGEMENT:Degree to whichemployees feel
emotionally connectedto their company
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Employee Experience Drivers
Workload
Coworkers
Advancement
Leadership
Supervisor
Compensation
Job
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„“The American employee deeply craves company
leadership that supports long‐term growth over short‐terms gains and that can provide a clear vision of the company’s direction.
The complexities of the modern economy … all contribute to many companies taking the easier path of simply not sharing information. This will prove to be a long‐term error, as it will lead to lower employee retention.
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Results by Industry
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Results by Age and Gender
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Results by Sector
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Being able to fully understand what drives employees to “give their all” is a challenge!
Competing Priorities Are a Reality
*Source: HR Daily Advisor, 2013 HR dept. survey among 1,839 organizations (Aug. 2013). http://hrdailyadvisor.blr.com/2013/09/06/hr‐department‐survey‐results‐are‐in‐how‐do‐you‐compare/
What HR Oversees*(% reporting responsibility for …)
What HR Oversees*(% reporting responsibility for …)
93.4%EMPLOYEE BENEFITS
93.4%EMPLOYEE BENEFITS
91%EMPLOYMENT LAW COMPLIANCE
91%EMPLOYMENT LAW COMPLIANCE
90.6%RECRUITING AND STAFFING
90.6%RECRUITING AND STAFFING
85.8%COMPENSATION
85.8%COMPENSATION
75.5%RETIREMENT PLANS
75.5%RETIREMENT PLANS
74.9%TRAINING AND DEVELOPMENT
74.9%TRAINING AND DEVELOPMENT
72.1%RECOGNITION/INCENTIVES
72.1%RECOGNITION/INCENTIVES
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Timing and Cadence
PULSEANNUAL
By Tenure
By Group
Random
Benefits
Onboarding
Exit
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MEASURING THE EMPLOYEE EXPERIENCE
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• Experience and expectations define satisfaction.
• Satisfaction and intent to stay drive engagement.
• Engagement drives financial success.
The Model for Employee Satisfaction and Engagement
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71
79
72
77
4.6
3.7 RECOMMEND BRAND.4
1.9
2.5
2.2
3.4
.9
1.8
83
75
79
76
69
82
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Answer the Big 3 Employee Experience Questions
EMPLOYEE SATISFACTION
IMPACT
EXPERIENCE ELEMENTSDrivers of Engagement & Satisfaction
ENVIRONMENT
JOB
MANAGER
TEAMWORK
ADVANCEMENT
EMPOWERMENT
COMPENSATION
SCORE
ENGAGEMENT
2.1
1.2 INTENT TO STAY
RECOMMEND EMPLOYER
IMPACT SCORE
FUTURE ENGAGEMENTOutcomes of the Employee Experience
How are we doing?1 What should we do?2 Why should we do it?3
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1. Intent to stay—the desire to maintain membership in the organization
2. Advocacy—the belief in and acceptance of the organization’s goals and values
3. Initiative—the willingness to exert considerable effort on behalf of the organization
4. Recommend brand—the willingness to recommend the company’s brand
5. Recommend employer to job seekers—the willingness to recommend the organization to job seekers
6. Customer orientation—the commitment to customer service
What Do You Want Them to Do?
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Answer the Big 3 Employee Experience Questions
.4
1.9
2.5
2.2
3.4
.9
1.8
83
75
79
76
69
82
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IMPACT
EXPERIENCE ELEMENTSDrivers of Engagement & Satisfaction
ENVIRONMENT
JOB
MANAGER
TEAMWORK
ADVANCEMENT
EMPOWERMENT
COMPENSATION
SCORE
How are we doing?1 What should we do?2 Why should we do it?3
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Priority Maps Reveal Initiatives for the Highest Value
EMPLOYEEGROUP B
EMPLOYEEGROUP A
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Employees Are the Critical Link
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PREDICTIVEANALYTICSPREDICTIVEANALYTICS
QUANTIFIABLELINK
QUANTIFIABLELINK
EXCEEDCUSTOMER
EXPECTATIONS
EXCEEDCUSTOMER
EXPECTATIONS
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7878
5858
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SUPERVISOR
COMPENSATION
LEADERSHIP
ADVANCEMENT
COWORKERS
WORKLOAD
JOB
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1.1
0.7
0.7
0.3
0.4
0.7
0.8
1.1
0.7
0.7
0.3
0.4
0.7
0.8
4.9
4.5
4.9
4.5
MERCHANDISE
SERVICE
STORE ENVIRONMENT
PRICE
1.7
0.8
1.0
1.1
1.7
0.8
1.0
1.1
5.0
4.2
5.0
4.2
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EMPLOYEE EXPER I ENCE CUSTOMER EXPER I ENCE
SUPERVISOR
LEADERSHIP
MERCHANDISE
SERVICE
STORE ENVIRONMENT
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300‐STORE RETAIL CHAIN
$30 Average Order Value1M Transactions Per Month
3%INCREASE
PURCHASE NEXT TIME
$10,800,000ANNUAL REVENUE INCREASE
3%INCREASE
=
EMPLOYEEENGAGEMENT
CUSTOMERSATISFACTION
IMPROVEMEASURE ROI
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The Truth About Millennials
SATISFACTION
74 7518‐24 55+
RECOMMEND
73 7518‐24 55+
RETURN
78 7618‐24 55+
Source: Q1 2015 ForeSee client data
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The Truth About Millennials in the Workplace
SATISFACTION
66 6518‐24 55+
ENGAGEMENT
62 5718‐24 55+
Source: 2014 Answers American Employee Study
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WHAT’S NEXT?
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Optimizing Voice of Employee Efforts
What employee initiatives should we plan for next year?
What experiences matter?
What does our workforce value?
What proof points exist for our case?
Is our current thinking on improving employee engagement on track?
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Eric FeinbergSenior Director of Product [email protected]
Questions?
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