Why The Employee Experience Is Key To Business Strategy

Protecting your team and small business with an employee retention strategy.

Supporting employees’ career growth and listening to their expectations is no longer optional, it’s fundamental for creating a positive employee experience.

So, what’s the employee experience? It's the journey individuals take with a business – from the second they spot the job listing to the moment they leave. As a business owner, it’s your responsibility to make sure you’re creating a meaningful, enjoyable, fulfilling experience for every team member.

So, whether you employ 1 or 100 people, read on to discover how you can create the ultimate experience for all.

Keeping up with employee expectations

To hire and keep the best team, you need to stay in tune with employees’ changing expectations – especially as hiring quality, specialist staff is becoming harder, and when much of the workforce is on the move.

The first step towards keeping your team and creating an improved employee experience is to develop a nurturing culture. How? Get started by focusing on:

• Flexibility

More and more people are seeking flexible working conditions, and many employers are rising to meet these needs. Whether you can offer remote working or flexible hours, think carefully about how you can give employees the flexibility they want.

• Career progression

Don’t let your team become stagnant. Invest in opportunities for them to grow and develop. Help them progress and you may just help your business too – especially when you focus on upskilling your team’s digital skills.

• A sense of community

Your business’ culture shouldn’t only exist in a physical space. Make sure your values transcend the office environment by putting wellbeing first, offering non-stop support and guidance, and embedding diversity and inclusion initiatives within your strategy.

Put this together and you’ll create an environment where your team can grow and thrive, in a place they really want to work. And, in return, you’ll see productivity skyrocket.

Why is employee retention important?

Did you know replacing an employee can cost an average of 6 to 9 months of their salary? There’s so much that goes into the process; the administration of the resignation, recruitment and selection, covering the role during the vacancy, and training as well as a settling in period for the new hire. Minimise this expense by investing in the employees you have, just as much as new talent. This is even more important when hiring those with specialised skills, as demand for data and digital-based skills is ever-growing.

61% of employees believe positive wellbeing enhances employee productivity, as well as financial results. And a further 60% say a focus on wellbeing improves retention, as people are more likely to remain dedicated to their employer when they feel supported and engaged. So, creating positive employee experiences isn’t only essential for building morale, it’s vital for business success too.

Employee retention ideas - A people-first approach 

As a business owner, you’re naturally going to look to the future, and you need to make sure your team is safely on board for the ride. But, to get there, you need to take a step back and look at your processes holistically.

Where possible, work is becoming digitalised, but this doesn’t mean in-person experiences should be left behind. After all, no two employees are the same, and the ultimate employee experience will vary from person to person. Here are a few things you can consider to create the best experience all-round:

• Organise social events: whether it’s lunch or a day out, reward your team for their hard work
• Arrange collaboration opportunities: from brainstorms to team projects, encourage virtual and face-to-face collaboration
• Develop a smooth onboarding and review process: set your team up for success from day one, and always encourage them to learn and grow
• Create a space for open communication: encourage your team to give feedback, and really listen, then prioritise making the changes they want to see