Dive Brief:
- An overwhelming majority of talent leaders (96%) said improving the employee experience is becoming more important and a way organizations can retain talent and grow their bottom line, according to a LinkedIn survey released Jan. 21. The respondents said that it's time to shift from merely collecting feedback from employees to actively listening, collaborating and initiating change on their behalf.
- Only 52% of the 7,000 talent leaders surveyed said their organization provides a positive employee experience, agreeing that more work has to be done to create positive experiences.
- In other findings, LinkedIn discovered the term "employee experience" appears 2.4 times more often in job titles posted on LinkedIn since 2014. Three-quarters of respondents said their companies will make people analytics a major priority during the next five years. Internal hiring has increased by 10% since 2015, LinkedIn said.
Dive Insight:
As companies prioritize the employee experience, making career development part of the process can be a boost for talent retention and employee experience, according to a recent CareerAddict survey. A notable majority of the workers polled (82%) said they would quit a job that didn't offer professional growth. In fact, a lack of career growth was their top reason for leaving a job, followed by low wages.
A previous LinkedIn report also made a good case for career growth and advancement; the data found that employees who change jobs internally, whether through a lateral move or advancement, remain onboard longer than those who stay in the same position. What's more, the data showed that when employees with three years of tenure are promoted, they're 70% more likely to stay on the job; and those who make a lateral move have a 62% chance of staying. The chance of staying decreases to 45% for employees who remain in their current position.
Some experts would argue that cultivating the employee experience starts with establishing a positive candidate experience. Research that Hireology shared previously with HR Dive showed that the competitive applicant market is driving the need for employers to maintain close contact with candidates throughout the hiring process. Starting with the applicant experience, Hireology said that close contact includes responding to applications within 72 hours, texting candidates often and generally keeping in constant touch with would-be hires.
