Thriving organizations have employees who find meaning in their work, as well as plenty of growth opportunities for themselves. Therefore, employees feel aligned with the trajectory of their employer. Employees also feel connected to each other and their leaders, as well as appreciated for their contributions to the company. So, employees feel inspired to be their best.
How do they do it? Thriving companies instill meaning through building a strong culture, demonstrating leadership involvement, and offering meaningful benefits and perks. As a result, these companies experience high retention and low employee replacement costs, relative ease attracting top talent, high productivity and employee engagement, and a healthy ROI on HR programming.
And it pays off: Employees at these companies feel aligned with each other, with leadership, and with company values. They collaborate and communicate seamlessly across branches, departments, and age groups. Employees enjoy frequent feedback on their work from both leaders and colleagues and feel appreciated and recognized for their work. They feel equipped to excel in their work because of effective tools and processes. And overall, there is a positive perception of leadership.
In conclusion: These happy, productive employees show up to work more often and are more productive than their less happy, less productive peers. Their employers reap the benefits by enjoying lower turnover costs, higher customer satisfaction scores, and higher revenue.
Off-course companies generally have happy employees who feel connected to their peers and leaders, and appreciated for the contributions they make to the company. Sounds great, right? Unfortunately, employees’ day-to-day work isn’t clearly aligned with the overall business mission and direction. The organization may seem to be spinning its wheels — and employees can tell.
Off-course companies do a great job instilling strong cultures and exhibiting their core values consistently. But employees spend time on the wrong things and, as a result, have trouble developing their careers. And lack of career development is a strong indicator of high turnover rates: Though employees find their work enjoyable, many of them will end up leaving for a better opportunity because of their inability to develop a thriving career within this organization.
Ultimately, off-course companies don’t have the leadership involvement, business focus, or internal communication systems necessary to fully maximize their workforce. And their employee experience pays the price.
In conclusion: It might feel great to work at an off-course organization. But when employees can’t tell how their work moves the needle, these companies are at risk of losing top talent.
At companies doing the bare minimum, the company may be functioning efficiently and profitably, with employees doing work that is clearly aligned with the company’s goals. But employees at these companies aren’t excited about their work, don’t feel connected to the company’s mission or their coworkers, and don’t feel appreciated for their efforts.
A company putting the bare minimum into the employee experience may run like a well-oiled machine. But its workers may feel like cogs — soulless, uninspired, and boring. Worse, these employees may feel afraid to make a mistake and hold back from trying new ideas, costing their organization in innovation and growth.
So, how did we get here?
Often, executives making budget decisions at companies doing the bare minimum don’t understand the business case for investing in employee experience to drive revenue. Instead, employee experience spending may be seen as an opportunity to cut costs. These companies may offer benefits packages that meet the lowest of expectations, and throw in erratic perks like a holiday bonus or a summer after-hours gathering in an attempt to drive engagement.
In conclusion: The impact of putting the bare minimum into your employee experience includes higher turnover, lower employee productivity, and more negative customer experiences. And all of that hurts your bottom line.
Employees in a company with a “surviving” employee experience are, for the most part, neither inspired by the company’s mission nor aligned with their day-to-day work. Employees don’t feel connected to their peers or their leaders, nor appreciated for their contributions. They can’t clearly find meaning in their work for either the company nor the greater world at large, and don’t see a path to grow their career.
As a result, these companies experience higher-than-necessary turnover rates, which can cost tens of thousands of dollars in employee replacement costs. These companies also have trouble meeting goals due to a lack of teamwork and internal communications. Top leaders either feel like they’re spinning their wheels, or may be completely disengaged from their role as a leader.
Things, in short, look grim. But not all hope is lost — and we can explain why.
Curious about how your company’s employee experience ranks? Take our assessment to learn your results, plus get actionable tips for how to get to thriving.