What You Need to Know
It has long been understood that employee experience is critical to a company’s success. However, companies that prioritized employee experience over risk mitigation and revenue increases were few and far between — until recently. The mass exodus from the office to remote and hybrid work environments has rendered the link between employee experience and company performance undeniable. This sudden shift left business leaders and human resources practitioners urgently solving complex challenges like maintaining productivity in an uncertain time. Over time, these shifts have created a competitive candidates’ market that highlights the powerful influence of employee satisfaction on retention.
A critical component of employee satisfaction is engagement. An engaged employee is a productive and dedicated employee who will serve a company and its customers well for far longer than a disengaged employee. According to Gartner’s “Top 5 Priorities for HR Leaders in 2021,” 29 percent of HR leaders cite employee experience as a Top 5 priority for this year, and “employee engagement and employee experience strategies” as key.
In HR.com’s recent study, “State of Performance Management 2021,” 44 percent of human resources professionals cite the development of performance becoming more digital and technology driven. In fact, three-quarters of organizations surveyed currently use technology to support performance management. There are plenty of vendors of technology for human capital management (HCM) that offer employee engagement tools as part of their suite of services, and no doubt these solutions are appropriate for some. As is the case in so many fields, however, specialists are often better equipped to more adeptly satisfy the specific needs they address than are the generalists who offer a service as just one more on a growing list.
In this report, 3Sixty Insights delves into three companies that each decided to implement a specialist performance management solution, how each made the choice, and the benefits they expect to realize—and, in some cases, already have.
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