- Most employees do not feel positive about their overall employee experience, the adequacy of their reward package or the technology they face in the workplace, according to a new study from Alight Solutions. Only one out of 10 employees said their overall work experience has significantly exceeded their expectations, and only 38% said they consider their employee experience "awesome" or "great."
- Employees said they don't consider their compensation competitive — 23% of employees said their rewards are below or well below those of other companies, although that is up from the 15% reported in 2015. A little over half — 54% — of workers said they believe their overall total rewards meet their needs or the needs of their family, which is line with last year's numbers, according to Alight.
- The study data shows that workers have a clear idea of what is needed to improve their employment experience, Alight said. Employers can stand out from the crowd by providing "fun, flexibility and pay," according to Alight. Fifty-one percent of employees said they would not consider a job that provides less flexibility than their current job. Furthermore, employees who feel their rewards meet their needs are seven times more likely to be engaged with work compared to employees who don't feel that way, the study reported.
In this increasingly competitive job market, employers need to think strategically about the qualities that make them special and how employees may perceive them, Ray Baumruk, Alight's vice president of consumer experience for research and insights, said in a press release. Although some have begun to speculate about a future recession, hiring remains healthy in the new year and unemployment remains at historic lows, providing employers with continued challenges in acquiring new talent for existing jobs, according to data from the U.S. Bureau of Labor Statistics (BLS). The BLS' jobs report for December 2018 showed a slight uptick in the unemployment rate — attributed to more workers entering the job market by some economists — as well as a six-figure increase in the number of job leavers at 142,000.
To improve the employee experience, Alight suggested that employers take several steps. Leaders can consider making the workplace and work experience more personal, an overall culture move that can include initiatives like flexible work arrangements or motivating and functional workspaces. HR can also think about how to communicate their organizations' best qualities and establish an employee value proposition that clearly explains how employee experience matches a company mission.