I spend a lot of time thinking about employee engagement, especially as it relates to employee volunteering and giving. Why? Consider the PwC study which showed that employees most committed to their organizations put in 57 percent more effort on the job—and are 87 percent less likely to resign—than employees who consider themselves disengaged. Or the Gallup study which demonstrated that companies with highly engaged workforces outperform their peers by 147% in earnings per share. Unfortunately, that same Gallup study found that 87% of employees worldwide are not engaged.
Then see how America’s Charities points out that employee volunteer and giving programs address all ten major reasons why people leave their jobs. And note the study by Cone Research showing that 79% of people prefer to work for a socially responsible company.
Employee engagement has been feverishly analyzed for years now, including by me. But there’s a newer concept in town, and its name is EX.
EX is short for the Employee Experience, a term that has become increasingly popular in HR circles over the past few years.
What is EX? DecisionWise is specific about what it is NOT:
- EX is not the Employee Life Cycle, which is a part of the larger EX concept.
- EX is not the Employee Value Proposition, which is also a subset of EX.
- EX isn’t talent management or human resources development, which once again is a part of the larger idea of EX.
- It’s not a set of perks like foosballs and free sodas. It’s not even CSR policies.
- EX isn’t employee satisfaction.
So what IS the Employee Experience?
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