Organizations are repositioning their HR leaders as EX engineers and architects
Redesigning the workplace to become ‘employee-centric’ will be the key feature of this new decade in human capital management.
For 96% of talent professionals polled by LinkedIn, employee experience (EX) is becoming more important than ever.
And while many will proclaim there’s an altruistic reason behind companies learning how to view the workplace through the ‘lens of the employee,’ studies show positive EX also impacts the bottom line.
In fact, many organizations have come to reposition their HR leaders as EX engineers and architects.
Since 2014, the number of LinkedIn users who include the tag ‘employee experience’ in their job titles has more than doubled. These professionals still handle core HR functions, LinkedIn notes.
READ MORE: The enigma of employee satisfaction
But part of their new role is also having a say in decisions such as how to build up the company’s technology stack (productivity tools); offer better employee benefits; and design a more positive atmosphere at work.
“Businesses invest in a better work experience because they’re looking for better results,” LinkedIn writes in its 2020 Global Talent Trends report.
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“Over two-thirds say they’re focused on EX in hopes of getting employees to stay longer and be more productive.”
Why do companies invest in good EX?
- To increase employee retention (77%)
- To increase employee productivity (71%)
- To meet expectations of Millennials and Gen Z (40%)
- To attract more candidates (29%)
Compared with organizations that appear to be ignoring EX, companies that rated highly in the following areas performed better:
- Compensation and benefits – companies witnessed 56% lower attrition
- Employee training – 53% lower attrition
- Purposeful mission – 49% lower attrition
- Flexible work arrangements – 137% higher headcount growth
- Open and effective management – 143% higher headcount growth
“Even if you’re paying workers fairly, there are still several other pieces of EX that need work: not only management and culture, but tools and processes too,” LinkedIn notes. “In a world where paying bills and buying shoes takes seconds on a phone, we’ve come to expect the same speed and simplicity at work.”