Why employee experience (EX) is key to talent retention and attraction in a candidate-led market
Providing an exceptional employee experience (EX) is vital in today’s candidate-led market in attracting and retaining the very best Tech and Digital talent. 92% of employers say they are focussing on improving their employee experience over the next three years.Good employee experience can set you apart in a crowded marketplace and make you every candidates’ employer of choice. But what is employee experience and how can you improve your EX offering to attract and retain the very best?
What is employee experience?
Employee experience is a broad term. Essentially, it covers every interaction an employee has with your business – from the application process through their term of employment and all the way to their exit interview.
Why is employee experience important for attracting and retaining talent?
Improving employee experience is one of the most valuable things you can do as an employer. Not only does it improve your employees’ overall performance whilst working for you, your current employees’ view of you as an employer can have massive effects on your ability to attract and retain highly skilled and talented professionals.
The top 6 ways to improve your employee experience strategy
So, what practical steps can you take to improve your employee experience and branding to make you are more attractive choice for prospective candidates and keep your current workforce engaged? Here are six great ways to make your employee experience work for you:
- Promote Diversity & Inclusion
76% of employees and candidates say that a diverse workforce is an important factor when evaluating companies and job offers. Improving your D&I leads to an increased feeling of belonging and employees in diverse teams are more engaged as well as more productive. Inclusion initiatives such as mentorship schemes, employee resource groups and diverse hiring strategies can also foster a sense of belonging amongst your workforce.
- Offer learning and development opportunities
Nobody wants their career to be static! Potential candidates and employees are increasingly looking for employers that are not only supportive of their career development but who actively offer opportunities for them to grow and develop their skills. In fact, 59% of millennials believe development opportunities are extremely important when deciding whether to apply for a position and 70% of employees would be likely to leave a position for one which offered greater training opportunities.
- Focus on building a positive company culture
Are your employees happy to be at work? Do they interact with one another positively? Are they concerned with the company’s performance and reputation? These are all signs of a positive company culture. You can promote more positivity and engagement by removing the barriers to success. Take a survey of your employees and look out for negative conditions such as:
- Heavy workloads, unrealistic deadlines, and crunch periods
- Poor communication, gossiping, or passive-aggressive behaviour
- Micro-management, favouritism, or aggressive management techniques
- Absenteeism, burnout, and high turnover
- Provide positive experiences at every stage
It is important that you consider every stage of a potential employees’ lifecycle with your company when you build your strategy for improving EX. Emphasise creating a supportive onboarding process that gets across your company culture and makes new hires feel connected to your values. 33% of employees leave a position within the first 90 days, which demonstrates how crucial this period is for establishing the tone of future interactions. Remember that employee experience doesn’t stop because someone has handed in their notice. Your exit process should also reflect your company values and be kind and supportive. Improving employee experience should also extend your hiring processes. Streamlined applications, solid communication and uncomplicated interviews make for a pleasant candidate experience.
- Listen to employee feedback
Offer your employees plenty of chances to give you feedback. Schedule regular informal check-ins outside of the formal review process and give employees a way to provide anonymised feedback as well. Above all you should be prepared to respond to and act on feedback from your employees and make changes in good faith. You also need to pay attention to reviews on LinkedIn and Glassdoor as potential candidates will look at these sites and the opinions of your current and former employees carry up to three times more weight with applicants than your corporate branding. You can leverage this by asking your employees for feedback that can be shared on your social media and website.
- Unify your recruiting channels
Recruitment is increasingly a marketing exercise. Your employer branding is crucial so ensure all your recruiting channels – your website, job postings, social media, and advertisements – are conveying the same, unified messaging and brand. 68% of millennials and 54% of Gen Z applicants visit company social media accounts before submitting an application. Additionally, how you interact with customers is also under scrutiny. A negative company reputation can cost you up to 10% more per hire as candidates stay away from those with a poor corporate image.
How Energize can help you attract and retain top talent
At Energize we can support you in building a more effective recruitment strategy that attracts and retains talented employees and helps you build positive employee experiences through exceptional communication and candidate care. To discuss how Energize can help you build a positive candidate and employee experience, contact us today.