A recent survey of small business owners and Human Relations Managers by United States-based HR software company BambooHR has revealed a growing focus on the employee experience.
As the report finds, the old adage of ‘customer is king’ is fading and being replaced by the recognition that employees are the driving force of a business.
Treating them as such requires a clearing of communication pathways and a shake-up of hierarchical frameworks within companies. Employees who are openly told how the business is going will be more engaged in helping it grow. Employees who are treated like well-rounded humans with busy lives outside of work will also be happier to work hard.
These are of course, all ideas that form the basis of Freerange Works. They can be challenging to achieve however, and as indicated by the report, an HR Manager’s work is never done, especially in a flexible workplace!
While the report surveys American small businesses, much of the findings are relevant to us here in New Zealand and point to a need to rethink the way we traditionally do business, particularly in this tumultuous year.
5 Takeaways from The Employee Experience Report
Below are five key takeaways from the The Employee Experience Report.
1. A huge 90% of those surveyed recognised that customer experience was directly related to employee satisfaction. Despite recognizing the impact these two factors had on each other, most see the responsibility for each outcome landing with different departments.
2. For those who measure employee experience, most have seen a decline or stagnation in those metrics in the past three years. When asked what makes a better employee experience – compensation, career growth, performance reviews, and performance management are topmost on the list, above ‘work perks’, such as recreational events and time off.
3. Daily HR tasks are generally given more time and priority than employee experience tasks. More than half of small business leaders have experienced an increase in their HR duties and 63% expect their HR duties to increase as their businesses develop over the coming year. Many plan to hire in HR as their businesses grow.
4. A huge 80% of small business leaders believe that a company’s growth has a positive impact on employee experience. Additionally, a growth in employee numbers tends to equate with revenue growth. Those who actively measure employee experience trend towards higher revenue growth.
5. COVID impacted a large number of small businesses surveyed, with 52% moving to remote working and 53% reducing or adjusting hours due to the pandemic. A majority (83%) felt at least somewhat prepared for this transition with many providing equipment, training and new technologies to employees working remotely. A large number reduced or eliminated benefits such as bonuses and company in order to keep employees safe and employed.
If you need a hand to improve the employee experience in your business contact the team at Freerange Works on 0800 04 FLEX for a free consultation.