Employee experience is the sum of all interactions between an employee and their employer. It's not just about working long hours or getting paid on time—it's also about how they feel about their jobs, and how motivated they are to stay with the company over time.
While many managers think measuring employee experience is unnecessary. But companies that focus on measuring the employee experience have enhanced their teams’ productivity, retention, and engagement.
This, in turn, leads to higher customer satisfaction and increase in overall organizational performance.
According to reports, “Highly engaged workplaces can claim 41% lower absenteeism, 40% fewer quality defects, and 21% higher profitability”.
In this blog, we'll explore some ways by which companies can measure the employee experience and can understand where their employees stand and what is their experience in the company.
How to measure employee experience?
Measuring employee experience essentially means finding out how happy your team members are with the workspaces they actually use to work, the tools they use to complete their tasks, and the overall experience of working for your company.
Even while it appears straightforward, many businesses have trouble obtaining an accurate picture of how their employees feel about their workplace. The methods listed below can be used to measure the employee experience:-
1. Employee experience surveys
These days, the method of getting employee feedback is getting more important. Surveys make it possible to gather input from many employees at once. The employee experience surveys are simple to analyze and act upon.
The most common types of employee experience surveys are as follows:-
Employee engagement is the emotional bond that an employee has with their company, which affects their actions and degree of effort when engaging in work-related activities.
These surveys are conducted once a year and measure how committed your employees are to the business, the management, and their coworkers. The following topics are likely to be covered in these surveys' questions:
Pulse surveys are shorter than engagement surveys and are often conducted more regularly. These surveys also follow the same framework across time, making it simple to compare the results and analyze the employee experience.
An important phase in the employment lifecycle is the onboarding procedure. Onboarding employee surveys have a direct impact on how new hires view your business and whether they'll stay in the company.
2. Analyze the information you already have
While it's always a good idea to solicit honest input from the workforce, it can also be useful to measure the employee experience using the data you already have at your disposal. You can use the information in the examples below to gauge how dedicated your team members are to their work:
Happy and engaged employees are more likely to stay with the company It is typically expensive to train new hires and replace departing employees. Simply use the following method to determine your employee retention rate for a specific time:
Divide the number of employees on the last day by the number of employees on the first day of the given period of time. Then, multiply that number by 100.
The employee referral rate is the proportion of employees who refer their employer. In contrast, the employee referrals rate is the number of employees who want to recommend their company as an employer. This metric can be measured with just a simple tracking of referrals when hiring new candidates.
Some businesses even provide a compensation system for any referrals that eventually come to pass.
3. Absenteeism rate
Excessive employee absenteeism from work could be a sign of some problems within your company, such as unfavorable working conditions, poor management, or a lack of work-life balance. It may also be a reliable sign of team discontent. It is one of the best ways to measure the employee experience.
Absenteeism has a knock-on effect on the business because it puts the responsibility of completing the task on other employees, which increases stress and job unhappiness. Absence is a warning sign that has to be addressed right away.
A smart strategy to do this is to speak with the team members who have high absentee rates and find out the cause from them directly. You can also consult with managers, coworkers, and supervisors to have a deeper understanding of the problem.
4. Employee turnover
Employee turnover is the percentage of employees who leave your organization during a given period of time. You can also measure the employee experience by finding the employee turnover of your company.
One of an organization's largest costs is employee turnover. It worsens workplace disturbance, lowers productivity, and harms team cohesion. On the other hand, a satisfied employee is less likely to leave the organization.
If your company has a high turnover rate, you need to start making efforts to create a culture where employees feel valued, and have opportunities for personal growth.
Measuring employee experience is essential for creating a positive and engaging work environment. By focusing on employee experience, organizations can improve retention, attract top talent, and achieve business success.
If you want to know how your employees feel, Dropthought can help you to collect your employee’s feedback, create delightful experiences for them, and more.
Dropthought is a user-friendly, omnichannel, and real-time employee experience management platform. We empower companies in different verticals to create delightful experiences for employees across their employee journey. Get detailed analysis and insights from data to know exactly what your employees think and what actions you need to take to delight them.
If you are interested to learn more, simply click here.