By Eagle Hill Consulting, Special for USDR
Eagle Hill Consulting says that companies are taking a page from the customer experience playbook and applying top practices to their human capital strategy. Companies that deliver a strong employee experience – one that is direct, personal and fast – are poised to attract and retain top employees.
The new research from Eagle Hill takes a deeper look at these top three trends in human capital — direct, personal and fast – and offers actionable ideas of what companies can do to tap into these trends. It also provides insight on companies like General Electric, Facebook, Zillow, REI, Google and Adobe that have innovative employee experience practices in place.
“Just as companies are building deeper customer experiences, they must simultaneously create meaningful, genuine and innovative connections with their employees,” says Melissa Jezior, Eagle Hill president and chief executive officer. “The companies that are tapping into these human capital trends are poised to emerge as winners in the ongoing war for talent, while also lowering turnover costs.”
Turnover costs vary by wage and role of an employee, but are significant. For example, one study indicates that each time a business replaces a salaried employee, it costs six to nine months’ salary.
Technology advancements have made the trend toward direct, personalized and fast customer experiences an expectation. Now, leading edge companies are applying this same approach to give them a competitive edge when it comes to their own people. Creating better employee experiences is all the more important given that less than one-third of U.S. employees are fully engaged in their job and their expectations are not being met according to Gallup.
“Today, it’s all about the experience for employees. And we’re not just talking about perks – it goes much deeper than that. This week marks Employee Appreciation Day, and it can serve as opportunity for companies to really think beyond gestures and tactics. Instead, leaders can step back and re-evaluate the total experience they want to provide to employees so they are productive, engaged and loyal,” Jezior says.
“For example, we live in a ‘Twitter culture’ and employees expect information directly and frequently. Employees also want a workplace that is ‘their way’ – tailored to personal preferences that fit their workstyle, schedule and passions. And finally, the workforce is impatient and demands real-time responsiveness. Against this backdrop, the new challenge for employers is to deliver a culture and employee experience that appeals to the best and brightest while building loyalty so they want to stick around.”
Download the research here.
Eagle Hill Consulting LLC is a woman-owned business that provides management consulting services in the areas of business strategy, organizational transformation, human capital transformation, process improvement, program management and change management. Eagle Hill works with a range of public, private, and non-profit organizations in the Washington, D.C. metropolitan area and across the nation. Eagle Hill also was named by Forbes as one of America’s Best Management Consulting Firms of 2016, and the company had earned workplace awards from The Washington Business Journal, The Washington Post, Washingtonian and Vault. More information is available at www.eaglehillconsulting.com.
SOURCE Eagle Hill Consulting