OrganiSations need to redefine the employee experience to retain talent and improve satisfaction at work

Today’s competitive labor market, combined with economic and financial pressures, is driving many employees to reevaluate their working lives. The report finds that 34% of all employees are planning to leave their current company within a year. Of this group of employees which intends to leave, two in three (66%) plan to do so in the next three to nine months. Even though adequate and appropriate pay is a key driver of employee satisfaction, more than half of all employees (52%) surveyed said that are still likely to leave even if they are offered the same job at a different company with the same compensation, highlighting the need for organisations to act quickly to increase retention of their key talents.

In contrast, of those employees who have a positive experience at work, 97% intend to stay at their current company for the next year, and 96% of them feel engaged and motivated. The report finds that positive experiences are integral to a company’s health and can drive positive business outcomes. In fact, approximately half (48%) of leaders from organisations where managers report positive experiences say they have seen increased customer satisfaction as an indirect result of an improved experience.

Employees need clarity of purpose and a manageable work-life balance

While 92% of leaders believe the employees they manage are happy at work, the report finds that only 30% of employees feel the same way. Establishing a work-life balance remains a critical concern for all, with 65% of employees and 61% of managers citing it as the most important aspect of their work experience. The need to carve out a manageable balance is still top of mind for employees with only 29% feeling that they are able to take time away from work, and only 28% saying that their work schedule is flexible enough to balance family and personal life.

Nearly three quarters of employees say clarity of work purpose (i.e., knowing why you are doing what you are doing) is the aspect of work most important to them. Ensuring that employees have a thorough understanding of the parameters of their work as well as a view of career progression and growth potential will be critical factors in improving employee experience and retention.

Organisations tread a fine line with remote working

As organisations balance remote and in-person working models, greater attention needs to be placed on flexible working, cites the report. Nearly half (48%) of individual contributors and 87% of managers who are satisfied with remote-working opportunities are happy at work. This reflects previous research which found that 66% of employees who feel they are being micromanaged also claim to feel burned out in a remote set-up. This highlights that instilling a sense of autonomy and trust amongst employees is critical for the success of remote working.

Upskilling opportunities matter

Learning and skill development also ranks highly in employees’ minds with 65% stating that it is the most important aspect of their work. Yet, only 28% said that their job enables them to learn and develop new skills, thereby highlighting a clear opportunity for organisations to close this gap. 

Re-defining the people strategy

The report recommends that organisations must develop an enterprise-wide people strategy that offers an inclusive experience to all employees regardless of demographics, roles, and permanency. Doing so can help consolidate disparate experiences and create a cohesive, consistent corporate culture.

Claudia Crummenerl, Head of Workforce and Organisation, Enterprise Transformation at Capgemini Invent says, “Organisations must not only rethink their traditional talent lifecycle and re-position their employees as ‘consumers of services’, but also look at the whole experience including moments of daily work. Those moments, such as trust to work and deliver tasks remotely, are more important for the perception of a positive experience than touchpoints in the talent lifecycle. Truly, listening to talent is crucial. Nurturing a culture of employee well-being and encouraging continuous learning are imperative to bridge the perception gap between employees and their leaders. Technology has a key role in establishing a collaborative work culture and empowering employees with the right tools to do their work effectively.”   

As part of an organisation’s people strategy, The report recommends developing an employer promise, wherein organisations can consider offering new learning opportunities that also increase employees’ value to the company and link job roles to outcomes, articulating career-growth potential. To achieve this, organisations need to coach leaders to be genuinely empathetic and to listen to employees and empower their people through a culture of continuous learning.

Methodology

The study surveyed large organisations across 10 countries in key industries such as consumer products and retail, automotive, manufacturing, energy and utilities, financial services, healthcare and life sciences, and the public sector. As part of the research, 2,250 respondents were surveyed, including 750 leaders and 1,500 employees (comprising 511 managers and 989 individual contributors) at 750 organisations with greater than $1 billion in annual revenue. For every two employees at a specific company, the study surveyed one leader from the same company; 22 in-depth interviews were also conducted with industry executives from various organisations. Interviewees comprised human resources executives working across HR management, talent, employee engagement, and the digital workplace.