Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
Overhead costs—from utilities and rent to administrative staffing—can...
Growth triggers a tidal wave of financial complexity,...
July 27, 2020
Employee expectations are evolving with shifts in culture and generation, and many staff members today value purpose over perks. A recent survey reveals that many organizations are coming up short on delivering the engagement and experience today’s employees expect, putting them at risk of losing out on the best talent.
Background: Topia, an HR tech company, conducted an online survey among 1,000 full-time employees in the 18- to 64-year age range who work in large enterprise companies (2,500+ employees) with global operations. Respondents were sourced from the US and UK (500 respondents from each country), with 379 employees from HR departments. Survey responses were gathered from Feb. 25 to March 4, 2020 to gather insights about what employees value about their work experiences and how the activities, technology and environment in which they work can impact their overall employee experience.
The survey noted that only 17 percent of staff members rated their companies’ employee experiences as exceptional. Just 16 percent of non-HR employees said a cool space, food and games matter, while 25 percent of HR professionals thought that was a priority.
Some 40 percent of general employees rated their companies poorly, compared to just 21 percent of HR staff, suggesting a considerable disconnect between how HR perceives the employee experience and what staff members believe. This disconnect means employers aren’t delivering an experience that aligns with employees’ priorities and motivations.
The survey found that when employees feel empowered and trusted and know that opportunities exist for them to grow within your company, they want to stay. According to the survey:
“These results demonstrate there’s so much that goes into a great experience — like opportunity, diversity, global experiences and trust — and many employees just aren’t getting that from their employers,” said Meghan M. Biro, CEO of TalentCulture, in a statement about the report.
A bad manager tops the list of what makes the employee experience “terrible,” except for one group: for 18-to-38-year olds, a lack of career growth and development opportunities are even worse. Respondents cited the following factors as major contributors to a toxic culture.
Employees believe that having a team with diverse backgrounds and viewpoints leads to more creativity and innovation. According to the survey results, 79 percent of employees wished to work with a more diverse set of colleagues, but there were also splits when it came to age groups:
Technology plays an important role in defining the employee experience, but it makes employees’ jobs harder if they have to switch between different tools to find information or complete tasks. Nearly 60 percent of employees said their HR tools are disjointed, difficult, outdated and glitchy or provide a poor user experience. Employees said that the HR technology experience and offerings at their company could be improved or made user-friendly if:
HR technology can equip HR teams with the data and insights they need to better track employee performance, plan talent acquisition and monitor employee engagement. Sadly, only eight percent of HR professionals had the right data and insights from their tools.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...
Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...
Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...
Working capital: The difference between your current assets and your current liabilities. It’s a key barometer of financial health. While...
Expanding your team and capabilities is critical to sustaining growth—but the question often arises: Should you build an in-house department...
A Chief Financial Officer (CFO) isn’t just a numbers person anymore. Modern CFOs play a pivotal role in shaping strategy,...
Once your annual revenue surpasses $10 million, you attract more attention from regulators, partners, and customers, especially regarding data privacy....
Hiring is one of the most pivotal processes in any organization, particularly for a medium-sized business looking to scale. Yet...
At Escalon, we are committed to keeping our clients informed about the latest trends, challenges, and opportunities across the industries...