Today, there are many various HR solutions designed to help employers improve employee management, or better said, improve employee experience.
It can be very hard to choose solutions that can help you optimize your internal processes and eliminate your biggest HR challenges.
So how to choose solutions to add to your core HR system that can really bring value to your organization?
Even though there are numerous different types of solutions to choose from, 4 of them have proved to have a very positive impact on improving employee experience, engagement and satisfaction.
Before we look at the tools, let’s see why employee experience has become the number one focus for many companies across the world.
Why Employee Experience Matters
Many of you may have participated at this year’s SuccessConnect in Las Vegas. If so, you have probably heard about the new term: Human Experience Management.
This event was all about what can we do to really bring employee experience to the next level.
Why do we need to do that?
Because there is a huge gap between what CEOs and employees think. This is called the Employee Experience Gap, and we need to be able to eliminate these differences.
4 Must-Have HR Tools to Improve Employee Experience
Let’s now take a look at some tools that every employer should add to their core HR systems in order to close the employee experience gap.
1. Tools for Employee Rewards & Recognition
Building a culture of appreciation is one of the best ways to drive employee motivation, engagement and productivity.
Exactly these are the reasons why employers are now implementing rewards and recognition programs in their companies more than ever before.
This is not surprising at all as there has been a lot of research that showed that companies that show more appreciation to their employees are also more successful companies with healthier workplace cultures.
To be more precise, here are a few statistics:
- Those organizations with the most mature employee recognition approach are 12 times more likely to have strong business results.
- When companies spend 1% or more of payroll on recognition, 85% see a positive impact on engagement.
- 78% of US workers say that being recognized motivates them at their job.
- Companies that have structured employee recognition programs enjoy 31% lower turnover rates.
- Companies that have implemented peer-to-peer-recognition enjoy 41% higher rates in customer satisfaction.
Even though many employers are now aware of the benefits of employee recognition, many still lack ideas for how to recognize employees.
2. Tools for Employee Feedback
Employee recognition and employee feedback are closely related and they both have a significant influence on employee experience.
The times of annual employee feedback and reviews are done. Employees now expect continuous feedback for their work. In addition, continuous feedback is the best way to build an agile culture and improve flexibility in the overall business operations.
Also, employee want to be able to ask for and get feedback not only from their managers, but also from their peers.
Let’s take a look at a few statistics from a research on employee feedback:
- Organisations that implement regular performance feedback have 15% lower turnover rates than those that don’t.
- 43% of highly engaged employees receive regular feedback.
- 80% of Millennials say they prefer on-the-spot feedback and recognition over formal reviews.
Employee feedback solutions enable companies to implement structured programs in which employee can continuously get meaningful feedback on their work. On the other side, organizations can drive two-way communications, encourage teamwork, help employees grow and build their careers and increase employee productivity.
3. Tools for Employee Surveys
Employee surveys are the best tool to stay ahead of the game, prevent undesirable situations and events, eliminate bottlenecks and get insights into the overall company situation.
The best performing organizations are the ones that listen to their employees and take actions based on their feedback and needs.
With employee survey solutions, you can continuously measure and track some of the most important employee related KPIs, including: employee motivation, employee engagement, employee satisfaction, company culture and many other.
If you do employee surveys, however, be ready to act. According to research, only 20% of employees believe that their managers will act on survey results.
4. Tools for Employee Health & Well-being
This category of HR solutions as been emerging rapidly in the past few years. As employee well-being and work-life balance are now closely related to employee experience, organizations are putting much more effort into them.
Using employee health solutions, employers can, for example, enable employees to set their own physical activity goals and then reward them for their personal achievements.
This is just one way how employers can, using the right tools, encourage employees to stay healthy and have a well-balanced personal and professional life.
A comprehensive review of the literature has found that the average return on investment of workplace wellness programs is 3.27. This means that for every dollar that was spent on the program the company saved $3.27 because of reduced healthcare costs.
Even though the HR tech market is growing rapidly, there are certain solutions that every enterprise company should implement as an addition to their core HR systems.
Employee survey, employee feedback, employee recognition and well-being solutions that enable employers across the world to improve employee engagement, build healthy work environments and drive better business performance.