The ‘Great Resignation’ is upon us. Employees are not afraid to quit their jobs for new ones if they not happy about their work-life balance or their career development opportunities.
So what should employers do to win the war for talent and retain their existing staff?
According to a survey of 2,000 leaders from across the world by Ceridian, 72% of employee experience think is a high priority or essential yo attracting and retaining talent. But only 24% said their companies were agile in this respect.
The report notes: “While organizations’ investments in employee experience technologies and strategies is promising, there is a gap between employee expectations and employer realities.”
For example, Ceridian’s survey found that 37% have invested in digital learning – upskilling and reskilling is essential to preventing talent exodus – and 43% have already adopted continuous listening and feedback platform, as well as digital onboarding.
However, now they need also to focus on other types of employee experience tech. For example, 50% of those surveyed said there is a need to implement wage access solutions, 49% said AI-drive skills matching, 48% said career management and 47% said candidate relationship management.
Ceridian is also concerned that employers are not focusing enough on tools that identify flight risks – only 39% admitted to have this tech – and this means that organizations might not be aware their employee experience is lacking until it is too late and employee churn is underway.
Further to this, Ceridian’s study suggests that employers also need to focus on new benefits packages (39%), appropriate recognition and rewards including pay and more workplace flexibility beyond where they work (42%).
Ultimately, communication, agility and personalization are key to successful employee experience, according to Ceridian.
While the study sets out long-term goals, Ceridian also provides some advice for immediate changes employers can make to dial up their focus on employee experience.
Three examples to put employee front and center in the short-term are to create a team to “brainstorm where your current employee experience is succeeding and where there may be gaps”, holding a focus group with a few employees to discuss their “individual experiences during the talent acquisition, onboarding, learning and performance stages”.
The final bit of advice from Ceridian is to “bring HR, IT and other key stakeholders together to evaluate your company’s current technology investments, and whether your solution is integrated as well as it could be”.