Creating Positive Employee Experiences to support Higher Performance Workplaces.
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The relationship between employee experience and two of the most commonly used measures of profitability: return on assets (ROA) and return on sales (ROS), reveal some vital insights.
• ROA, a ratio of net income to assets, is used to evaluate how profitable a company is relative to its total assets. The higher the ROA number, the better, because the company is earning more money on less investment.
• ROS is also known as operating profit margin. It is a financial ratio of operating income to sales. ROS calculates how efficiently a company is generating profits from its revenue. Organizations with high ROS show higher levels of efficiency.
The IBM and Globoforce research to understand and measure what makes an optimal working experience for employees resulted in the creation of the Employee Experience Index (EXI). This measures employees’ personal experiences at work in terms of belonging, purpose, achievement, happiness, and vigor. Their research found that employee experience is positively associated with employee work performance, discretionary
effort, and turnover intention.
The Employee Experience Index has five dimensions:
– Belonging – feeling part of a team, group,or organization
– Purpose – understanding why one’s work matters
– Achievement – a sense of accomplishment in the work that is done
– Happiness – the pleasant feeling arising in and around work
– Vigor – the presence of energy, enthusiasm, and excitement at work
The Benefits of Positive Employee Experience and Creating High Performance Teams.
Organizations that score in the top 25 percent on employee experience report nearly three times the
return on assets compared to organizations in the bottom quartile.
Organizations that score in the top 25 percent on employee experience report double the return on sales compared to organizations in the bottom quartile. This study also reveals there is room for organizations to improve their practices, drive a more positive employee
experience, and, ultimately, maximize their business performance.
The analyses reveal that organizations that score in the top 25 percent for employee experience see returns on their assets that are triple those that score in the bottom 25%.
According to research from IBM and Globoforce, a positive human workplace is primarily characterized by the opportunities for:
• Meaningful work
• Empowerment and voice
• Feedback, recognition, and growth
• Coworker relationships
• Organizational trust
• Work-life balance
High Performance Leadership Impacts.
We know that leadership and managers play crucial roles in enabling and creating many of those workplace performance optimisation opportunities. Ultimately, Culture and leadership ensure a positive and supportive work environment. The challenge with existing leadership, is that there there is some serious room for improvement, because a large majority, that’s 71%, of HR practitioners think that their organisation’s senior leadership could be doing more to improve employees’ experiences at work, and ensure better business performance and results.
What Needs to Happen For a Positive Employee experience?
Essentially research revealed two main ways for leaders and managers, to improve their Employee Experience.
1. Allow more opportunities for improved work-life balance
2. Better recognition, feedback and growth.
According to many HR practitioners, there is still room for improvement. Less than a 22%, believe that their organizations do enough to provide opportunities to recharge. Plus only 49% of HR Managers say there is sufficient recognition of the good work that employees do in the workplace.
Essentially the research found, that smart organizations providing a positive employee experience outperform their competitors
3x fold for ROA
2X for ROS.
This points to the importance of leaders, creating High Performance Workplaces, where the increased employee experience drives organizational efficiency, and emerges as a source of sustained competitive advantage.