Article: Innovating your EX to deliver impact and long term growth for your organisation

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Innovating your EX to deliver impact and long term growth for your organisation

Increased digitisation is bound to have an impact on the employee culture within organizations. What HR leaders must prioritise moving forward is implementing impactful strategies for enhancing employee experience by using the data gathered from HCM systems.
Innovating your EX to deliver impact and long term growth for your organisation

With the hybrid working model in full swing, it is increasingly important for companies to craft the ideal employee experience (EX) for building digitized, sustainable business models that can achieve growth at great speed. Alaine Dehaze, CEO, Adecco Group emphasizes that one of the key components of a successful digital transformation for any organisation is the impact digitization has on the culture of an organization in terms of the complete employee lifecycle. This is where employee experience comes into play. It is an incredibly important domain for any organization as it aids in the process of talent acquisition, development of this very talent and its retention as well as employee engagement, productivity and wellbeing. Further, employee experience is meant to have a direct impact on customer experience as well thereby accelerating the growth trajectory of any enterprise. 

But the golden rule of elevating any employee experience is to focus on all the touch points that comprise it. One of the successful ways of doing this is by implementing easy to access HRM software, Akrivia HCM is a great example of such a platform as it integrates multiple HR functions from recruitment, learning and development, compensation management among several others onto one singular platform in a user friendly fashion. 

Forrester analysts have predicted that leading organizations will ‘unlock the creativity of their employees and surround them with intelligent technologies such as automation and prediction engines that focus on outcomes, not just financial results.’ This in itself reveals a new era of transformation featuring ‘human-centered technology initiatives’ being heralded that connects customer experience (CX) and EX ‘to drive competitive advantage and deliver a 3% to 5% net gain in productivity.’

One of these continues to be the HCM platforms which takes on even greater significance in a hybrid workplace. The people analytics it collates will enable the elevation of the employee experience which tends to get even more challenging when it comes to remote teams but has a tremendous impact on the overall performance of the organization.

The three core areas of talent management: Acquisition, development and retention

From the ‘Great Resignation’, we’re moving into the ‘Great Reshuffle’ which adds another dimension to the already tricky challenge of talent acquisition. By leveraging the insights retrieved from people analytics which are a critical part of any HCM system, talent leaders can gain great insights on the potential success of new hires, the possible attrition rate and what could be some strategies to overturn this based on the internal company trends collated. Employees are also aware that the demand for skills is likely to change in the face of a potential digital and business disruption. They are increasingly looking to their organizations to enable the process of workforce development. People analytics data are not only a critical resource for talent management, they are equally significant in accounting for the skill gaps within the company which can help build upon L&D programs that are aligned to the company’s business strategy.

Driving workforce performance with increased focus on employee engagement:

HR leaders have started to recognise that a remote working model will not impact the productivity levels as desired output is almost always achieved. And while workforce performance is a critical component of any business strategy, employee engagement is also a core part of the overall employee experience. Gartner analysts have advised HR to give employees a personal sense of purpose, because it is only ‘When employees believe that their work is personally relevant, there is a 26% increase in the likelihood of sustained workforce health.’ This is directly linked to both employee engagement and the larger employee experience within the organization.

People analytics can help track disengaged employees and can also look into the success rate of strategies designed to drive employee engagement. It empowers HR leaders to steer their policies in the right direction according to the company specific environment and elevate the potential and motivations of their workforce. With increased demands for innovation across all businesses and industries, employee engagement will have an invaluable contribution to the workforce’s drive to innovate and achieve.

Having an HCM system in place that can seamlessly integrate all HR functions concerning the employees will reduce the pressures they already feel as it will reduce the time and engagement needed in this domain. Following this, implementing strategies that will help bring out a positive employee experience by enabling development opportunities and encouraging their continuous growth and participating in the business strategy will also be key. Akrivia HCM will play an important role in helping organizations achieve this by collating relevant trends that can help build a successful employment strategy to deliver on business growth and increase enterprise value. 

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Topics: HR Technology, Technology, Talent Management, #DigitallyEmpowered, #EmployeeExperience, #HRTech

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