THE WHY
In today's competitive business landscape, prioritizing Employee Experience has become a paramount strategy for forward-thinking organizations. Why? Because a positive Employee Experience is the bedrock of a thriving company culture and a catalyst for exceptional performance. When employees feel valued, supported, and engaged, they are more likely to be motivated, productive, and loyal. A focus on Employee Experience not only attracts top talent but also helps retain them, reducing costly turnover rates. Moreover, satisfied employees become brand ambassadors, promoting a positive image of your company to the outside world. By nurturing a workplace that fosters growth, well-being, and creativity, organizations can unlock the full potential of their workforce and foster a dynamic environment that drives innovation and long-term success. Emphasizing Employee Experience is not just a trend; it's a strategic investment that yields higher employee satisfaction, enhanced productivity, and ultimately, a competitive advantage in the marketplace.
ACTIONABLE RESULTS
Gallup
“The cost of replacing an individual employee can range from one-half to two times the employee's annual salary depending on position and level"
https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
Bureau of Labor Statistics
"The annual overall turnover rate in the U.S. in 2017 was 26.3%."
https://www.bls.gov/opub/ted/2018/hires-and-quits-rose-in-2017.htm#:~:text=There%20were%2065.3%20million%20hires,reaching%2038.2%20million%20in%202017.
Simple Math
“A 50-Person organization that provides an average salary of $50,000 could have turnover and replacement costs of approximately $330K - $2.6M per year”