Understanding EX

 Employee Experience (EX) has become a focus for many organizations hoping to retain and attract top industry talent. EX is a holistic approach to employee well-being. It has roots in decades of research in psychology, including the concept of eudaimonia - “the focus of living life in a full and meaningful way.”  

In a time when about 4 million Americans a month are voluntarily leaving their jobs, there are major benefits for your organization to make EX a priority. Employees are recognizing what research has been been proclaiming - the workplace affects total life satisfaction. In fact, 37% of the workforce report they would choose unemployment over sacrificing their happiness for a job.

Employees who are satisfied in their lives are more engaged at work. Experts in the field link employee engagement to higher levels of work quality and productivity. Translation: engaged and happy employees increase the bottom line. Organizations with engaged workers see 23% higher profits than those without.  

Employee turnover costs organizations millions of dollars a year.6 The great news is that data shows that 52% of employees who voluntary leave would have stayed if their organization had begun taking steps to improve their employee experience.5 With the right employee listening strategy you can take those steps and decrease turnover.4  In fact, every dollar that organizations invest in employee well-being nets about $3 - $5 in returns.7 Gathering data to be able to tie HR metrics with results is the first step to achieving these type of returns!