Market research identifies state of processes and technology in organizations today
BEND, OR, June 30, 2022 /24-7PressRelease/ — Ventana Research today released its latest market research on Employee Experience. We undertook this research to determine the attitudes toward, and management support of employee experience as part of our overall focus on Human Capital Management (HCM). Today’s organizations have become more complex with employees who have varied expectations of their employer in terms of experiences expected or desired. So, to succeed, organizations must become more sophisticated in their understanding and support of the employee experience to ensure the satisfaction and loyalty of the workforce. Our research examines employee experience management of any type that is used in conjunction with HCM.
It has been widely accepted since at least the early 2000s that an engaged workforce is more productive and successful than one that is not, and employee experience drives engagement. Our research shows that most organizations agree, with the majority (64%) indicating that delivering a superior employee experience is a top priority and a nearly identical number (65%) stating it is critical to have a superior employee experience to achieve the highest levels of employee productivity. Despite the general agreement of the value of employee experience, just one-fifth of organizations (19%) have the highest level of confidence in HR teams to ensure the best possible employee experience. This gap in expectations versus outcomes is significant, but it is not surprising when examined in context with the rest of the research.
Nearly all organizations (91%) surveyed indicated that it is extremely important or important that HCM systems and HR technology play a role in helping organizations deliver a superior employee experience, but the majority (55%) stated that HR/HCM technology only contributes somewhat to delivering a superior employee experience, with one-quarter (25%) stating that these systems do not contribute to a superior employee experience at all. Further, only one-quarter have invested in technology to enable a superior employee experience. If HR teams are expected to foster an environment that promotes the best employee experience, they must be equipped with the proper technology to do so, and there is no shortage of platforms to support the HR team in this endeavor.
“Our research shows that employers know the benefits of providing a superior employee experience, but they don’t always know how to use their HCM tech to help deliver it,” said Quincy Valencia, VP & Research Director of HCM at Ventana Research, “With a full 80% of respondents saying their HCM tech contributes only somewhat or not at all to employee experience, it seems that providers have work to do in communicating their value in that arena.”
Providing a superior employee experience may technically fall under the scope of HR, but it is more than just an HR function; it is a shared organizational imperative. Employees drive all of the economic value of an organization. While the most sophisticated HR organizations can build and foster processes and programs across the employee life cycle that enable employee satisfaction and engagement, they must first have the proper tools to do so. The majority of organizations (56%) are only somewhat confident or not confident that their current HR/HCM processes (recruiting, learning and development, performance management and compensation management) are helping to deliver a superior employee experience. Investment in the proper technologies to support those processes will return to the organization in bottom-line performance.
If you’re interested in learning more about this dynamic insights research, you can view a summary of the report here. For information on how to use this research in your organization, or to purchase a copy of the research report, please click here.
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