Employee experience or EX is a top priority for business leaders and for good reason. Strong company culture is directly linked to increased productivity and profits for businesses.
According to LinkedIn, EX is everything an employee observes, feels, and interacts with as part of their job and a large portion of the companies who invest in EX, do so to increase retention and productivity rates. When employees feel content in your company, they will feel more motivated to perform well and drive business success.
If you are looking to boost your business's profits and productivity, you need to start with creating a strong company culture. Here are some tips for how to create an employee experience that will benefit your business for the long haul.
One of the first steps to building a strong workplace culture is to instill a sense of purpose in your employees. Successful organizations have clear core values and mission statements that align with the company's goals and attitude.
Business owners can instill a sense of purpose in their employees by reminding them of the "why." Why are they doing this job? Reviewing the mission statement and core values should be a key step on your employee onboarding checklist so employees are prepared with the company's vision from the very start.
You can also offer career development opportunities to help build confidence levels. When employees know that they have room for advancement they will be more motivated to build with your company.
Value Your Employees
You can create a strong company culture that boosts productivity and profit by expressing gratitude for your employees' hard work while highlighting their value. Many employees become unmotivated when they question their value to the business and wonder if their work is even appreciated.
Show your employees that they are a key force in business outcomes by compensating them fairly and praising strong employee performance with employee recognition initiatives. Rewarding dedication with year-end bonuses or extra perks for meeting certain goals can increase employee engagement.
A recent SHRM study shows that ongoing feedback contributes to successful business outcomes. You can also show your employees that they are valued by listening to them. During monthly or quarterly check-in with employees. Make time to hear workers' thoughts on certain business strategies. Listen to staff members voice concerns on communication gaps and production missteps. Business leaders can learn a lot from employees who are in the field. This information may help develop better business strategies that reach profit goals.
Forbes also explains that employees who feel their voice is heard are 4.6 times more likely to feel empowered to perform their best work. No one likes a cut-throat environment. Employees who feel valued and have a sense of purpose will naturally be motivated to perform. A positive workplace culture gives every employee a voice and a strong sense of value.
Many businesses fail to build a strong corporate culture because they stress empty core values or mission statements while failing to put these words into action. The Harvard Business Review explains that instead of just resting on buzzwords, your company should prioritize illustrating a positive work culture. Employees believe their employer is hypocritical when they claim to prioritize innovation and collaboration, but internally that idea is not put to action.
Employees will see past buzzwords and false promises. Choose your words wisely and act behind them to hold up those truths. By building employee-business trust through action, your organizational culture will see more engaged workers that drive business success.
Lead By Example
It should go without saying that leaders set the precedent for workplace culture. High turnover organizations are often infected with cut-throat environments where levels of stress are high and employees fear their bosses. When managers lead with outrageous expectations and foster sour employee relations, a positive work culture will be a distant dream.
Sometimes leaders aren't cartoonishly awful to their employees, but workers still aren't impressed. Forbes explains that 92% of CEOs believe that they are empathetic, while only 50% of their workforce agrees. CEOs, managers, and supervisors should know that they are always in the spotlight, and levels of employee engagement depend on their leadership.
When business owners lead by example and illustrate a positive culture that values empathy, the odds of success are higher as engaged employees follow suit. Hold managers accountable to be strong role models for conscious communication and efficiency expectations.
Prioritizing the well-being of your staff is one of the best strategies in creating a company culture that boots profits and profitability. Especially during recent times with the onset of the Covid-19 pandemic, Americans are struggling with health issues, personal issues, chronic stress, and burnout at understaffed companies. Many companies have adopted a scarcity mindset that encourages over-working, but this attitude hurts productivity over time.
Staff members perform best and are most productive when their well-being is prioritized. A 2016 study by the American Psychological Association shows that only 41% percent of workers believe that senior management considers the well-being of staff and only 31% of those workers feel motivated without well-being support from senior management. This shows that a corporate culture that promotes well-being is key to fostering the motivation and productivity that benefits business.
Your company can prioritize employee well-being by creating wellness activities, multicultural team initiatives, and relationship-building practices. You can also implement more flexible work schedules and added vacation time so that employees have time to deal with the responsibilities of their personal life. Schedule regular check-ins and be empathetic if an employee is going through a hard time. With better-balanced lives and strategies to minimize workplace stress, your company culture will see happier employees that drive business performance.
Hiring the right employees from the start can also improve your company's broader culture while giving you a competitive advantage. Read our blog Top Qualities and Characteristics To Look For In Your Next Hire for more on hiring for a culture that boosts productivity and profits.