What is employee experience (EX)?
Why measure employee experience?
Enhanced productivity and performance
Making informed decisions related to HR practices
Enhanced customer experience
|Retention rates signify how many employees remained within the company over a specified period. A high employee retention rate generally implies positive experiences at work, while low rates indicate potential problems or dissatisfactions among staff.
|Intent to stay
|This metric shows how many employees foresee themselves staying with an organization over a lengthy period. It can provide insights into the workforce’s commitment level and their perception of future opportunities within the company.
|Number of employee referrals
|The number of referrals from existing staff suggests how highly they rate working within the organization. The higher this figure is, the more positive opinions workers hold about their employee experience, and that’s why they’re willing to recommend you as an employer.
|Productivity indicators such as performance ratings or meeting project deadlines can reveal a lot about how efficiently an employee works. High productivity levels generally imply a supportive environment that propels the team towards achieving set objectives.
|Employee Net Promoter Score (eNPS)
|The eNPS asks employees on a scale from 0-10 whether they would recommend their place of work to others – typically friends or family members. The data gleaned helps appraise the overall employee experience levels.
|Employee Experience Index
|The Employee Experience Index score takes into account an array of factors influencing the overall workplace atmosphere, like engagement levels, empowerment feelings, job fulfillment factors, and key performance indicator achievement. It provides a holistic overview of what it might be like working for your organization.
The exact dimensions of the Employee Experience Index depend on how an organization defines it. Two well-known Employee Experience Index systems have been developed by IBM and Forrester.
When it comes to measuring employee experience, key metrics that organizations use include:
– Retention rates: Your business’s retention rates can reveal much about employees’ willingness to commit long-term to an organization.
– Intent to stay: Beyond just assessing current employee tenure, discerning whether staff members aspire to stay with the company for the foreseeable future is a valuable indicator of how they perceive their journey at your organization.
– Employee Net Promoter Score (eNPS): This quantifies how likely employees would recommend their workplace to others – a telling sign of overall satisfaction and positive employee experience.
A combination of several employee experience metrics paints a nuanced picture of overall employee experience in any organization.
Surveys play an instrumental role in gauging overall employee experience levels—all thanks to their ability for large-scale data collection and sentiment analysis. They also provide insights into potential pain points and highlight areas for improvement according to actual employee sentiments.
However, while valuable, relying solely on surveys can lead to limited insights. Conducting different types of interviews, like stay and exit interviews, helps complement the survey data with deeper insights.
The Employee Experience Index is a metric that aims to give a comprehensive view of employees’ experience. Essentially, it helps you gauge the overall ‘health’ of organizational culture and environment.
IBM’s Employee Experience Index assesses employee experience on five core dimensions: Belonging, Purpose, Achievement, Happiness, and Vigor.
The Employee Experience Index from Forrester evaluates three elements of EX: Empower, Inspire, and Enable.