Why a world-class employee experience is key to business success in ‘the next normal’
Posted On March 28, 2021
The world of work is changing. With 50% of the workforce in the UAE aged between 20-34, Millennials are playing an increasingly prominent role. And they are bringing with them new attitudes, expectations and behaviors that are reshaping the workplace.
As a result, attracting and retaining the best people is becoming increasingly difficult. Businesses are having to reassess how they engage and support their employees, particularly as the demand for a superior workplace experience continues to intensify in a post-pandemic world.
What does this mean for business leaders? The onus is on them to redefine work life by embracing digital tools and platforms that meet the needs and expectations of modern employees. 71% of executives rank employee engagement as very important to organizational success, highlighting the importance of a world-class employee experience. And it’s all being driven by technology.
All in on digital
Over recent years, a key characteristic of the modern workplace has been the accelerated adoption of automation, cloud-based platforms and mobile capabilities. This digitalization has largely been driven by employees who now inextricably link the use of modern technologies to their workplace experience.
For example, 59% of Millennials expect employers to offer mobile-optimized technology, while 93% cite modern and up-to-date technology as one of the most important aspects of a workplace. Employees’ desire to work with the latest technologies must be embraced and catered to across two key pillars.
- Operational processes. Giving employees access to intelligent platforms that empower them in their roles will meet the level of digital sophistication they now demand, making them more likely to stay long term. This could involve reducing the administrative burden on HR teams by automating the mundane, time-consuming activities that they spend approximately 57% of their time on. Or, addressing the fact that 47% of CFOs say their current finance function is not equipped to meet future demands by streamlining payroll processes through a digital-first approach.
- The workplace experience. Many employees still struggle to find answers to basic questions around policies and benefits, causing frustration and a lack of engagement. Mobile capabilities can go a long way towards filling the gap. By providing a mobile app to request leave, access insurance policies, track reimbursements and manage payslips, businesses can completely transform employees’ work life experience.
Make it easier for employees to access the right information when they need it, and they’ll be more likely to reward you with their loyalty and dedication. This is vital in today’s competitive market.
Beyond the paycheck
The other key piece of the employee experience puzzle is the range of benefits on offer, which now plays a vital role in attracting and retaining the best people.
Businesses must recognize that people now want more than just a salary. They want to get more out of their working lives and feel like the company they work for cares about their overall experience. People are any company’s greatest asset, so they must be supported and rewarded in the right way.
The secret is to go deeper with benefits that truly make employees feel valued and deliver a world-class work life experience. Forward-thinking businesses must look to platforms that offer a range of medical insurance, healthcare, mental health and wellbeing services, all combined with comprehensive work and finance benefits. Although providing this level of employee benefits has traditionally been unattainable for many smaller and mid-sized businesses, it is now available to all through cost-effective cloud-based platforms.
Ultimately, providing a superior employee experience is what will help companies survive and thrive in a post-pandemic world. From allowing businesses to hire and retain talent, to boosting employee engagement and productivity – it’s really a no-brainer.
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