The foreseeable future of the workplace is becoming diversified with the focus on employee experience (EX), with the changing market conditions limiting the relationship between employee and employer engagement. The Covid-19 crisis ripped off the most standardised working method practised and most HR and business leaders continue to remodel their hybrid work initiatives in 2022 with the aim of seeking competitive advantage by creating an empowered workforce.
As per the CX Live Intelligence Report 2022, more than 50% of leaders are leveraging technology and artificial intelligence to automate repetitive tasks, aid performance management, and modernise customer support this enabling employee experience. So how will employee experience evolve further as we step into 2023?
People are continuing to embrace the hybrid work model, where physical office space is no longer relevant to significant business activity. Thus employers must ensure employees are not facing burnout, depression, social anxiety, unproductive isolation, and feeling unmotivated to do their tasks.
Business leaders need to reconsider their operational models and the value chains that will make their organisations sustainable, thus creating social value and positively impacting employee loyalty, motivation and customer satisfaction.
3 factors driving employee experience in the new world
Employee Experience (EX) has become a critical topic for new workplaces, as changing market dynamics continue the adoption of hybrid work models. The workforce characteristic that is increasingly attracting focus is that younger employees are adopting to online learning and development significantly more than past forerunners. Three facts that need to be considered when developing a business strategy to engage productive employees are:
1. The gig economy
The proportion of the employees in the freelance market has doubled in the past three years with the value of the freelance gig economy nearing $138 billion. This highlights the attractiveness of a flexible working environment, ie engaging in a non-permanent, short-term contract working style that increases job satisfaction and provides a meaningful work-life balance.
2. Millennial / Gen Y expectations
The global population is filled with young and specialized workers, such as Generation Y, who have different expectations. Compared to the Baby Boomer generation and Millennials, they are more oriented to self-achieving goal lifestyle and loyalty to individual dignity when considering job fulfilment and meaningful workplace engagement. Their interest in rewarding professional experiences, weighs the promise of promotion and even monetary rewards, as a different attitude.
3. Growing skills gap
Changing customer behaviour and buying preferences are skewing the ratio of the company’s core values and customer touchpoints much faster than they were just a few years ago. The gap in specialised and trained personnel who can meet increasing customer demands is growing. Business leaders are cognizant that the skills of the current workforce need to be developed to adapt to the technology transformations and increased competition.
What is the future of employee experience?
Five ways employee experience will evolve in 2023 are:
1. Employee well-being will lead to sustainable business growth
In 2023, leading enterprises are allocating budgets to invest in the upskilling of multi-talented employees to drive product innovation and value creation. Companies are beginning to adopt the new cultural shift to care for the well-being of employees and many tech companies are now viewing HR benefits as a business priority.
2. Integration between human and virtual communication
Some leading companies are utilizing compelling world-class digital experiences for long-term benefits. By leveraging digital transformation to its full potential companies can eliminate errors, and allow leaders to analyse the positive impact on employees, customers, and businesses to fast track growth.
3. Employee experience and CX
In the changing world, organisations that are agile and can keep pace with evolving customer needs through dynamic business process management attain higher employee experience and customer experience
4. HR and IT strengthen collaboration
With employees foregoing the traditional working styles, and new technology and online experiences overwhelming them, leading into 2023, IT and HR teams will be strengthening collaboration to innovate and design effective efficient digital workplace experiences.
5. Driving creativity post the great resignation
Whilst most companies had to deal with the effects of the great Regisignation, HR must widen the search for new talent that supercharges creativity and innovation to drive change and transformation.
Creating the ultimate employee experience
There are three pillars that need to be considered when creating the ultimate EX paired with the physical and technological work environment. The key attributes to be considered are detailed below –
· Values of the business
· Attitudes of colleagues and managers
· Communication style
· Pay and employee benefits
· Management style
· E-learning tools and resources
· Data sharing and access to devices
· Up-to-date software and applications
· Technical support
· Office floor plan
· Workplace perks
· Interior design and décor
Business leaders need to reconsider their operational models and value chains that will make their organisations sustainable, creating social value and positively impacting employee loyalty, motivation and customer satisfaction.