A survey from ManpowerGroup shows that 69% of businesses are worried about labor shortages and challenges with hiring new employees.
But what is key to attracting and retaining employees? According to Gartner, the third most important factor to achieving corporate goals is the employee experience.
In fact, companies that do invest into the employee experience make four times more profit than those who do not.
As the workplace pivots to hybrid work models, itโs become trickier and more critical for leaders to create the ideal employee experience. Not only is this crucial for retention, the experience of workers can make or break how well a business performs.
While financial compensation remains one of the most important aspects of employee satisfaction and experience, there are other factors that can impact the employee experience, including flexible work arrangements and collaborative opportunities.
In fact, some companies have created specific roles to ensure that workers are satisfied, with organizations such as McDonalds and Google creating the role of Chief Happiness Officers who focus on fostering a healthy company culture.
According to research from professors Frederick P. Morgeson and Stephen E. Humphrey, happiness can be linked to the following workplace factors: workplace autonomy, task variations, task significance, difficulty of tasks, workplace recognition, reskilling and upskilling opportunities, social support from colleagues and leaders, feedback from managers, environmental conditions, and networking opportunities.
