Two-thirds of businesses may be in danger of losing business value, as global, as global disruption affects the employee experience, according to WTW.
According to the latest research on drivers of value in employee experience, released by WTW, only 37 per cent of global companies are generating positive financial value through their employee experience strategy, as factors such as financial stress, pandemic fallout, political and economic tensions, and the Great Resignation disrupt businesses.
Employee engagement levels remain unchanged, but broader employee experience opinions on optimism, fair pay, career, and talent retention have declined, with 50 per cent of employees open to leaving their company. Positive employee experience is crucial for business success, as it affects revenues.
WTW’s research on the relationship between employee experience and business value has identified four segments – value drive, value risk, value potential, and value drag – based on employee experience, with only 37 per cent of businesses in a value drive state, 18 per cent in a value risk state, 15 per cent in a value potential state, and 30 per cent in a value drag state.
WTW managing director of employee experience Stephen Young says: “The implications of this research are profound. Employee experience shapes business value and is a predictor of business performance. Only organisations in a value drive state will grow, while organisations in a value drag state will decline and deliver low to no returns.
“Under the shadow of ongoing global disruption, thriving rather than merely surviving will require organisations to develop a more compelling and purposeful employee experience that reconnects, re-energises and retains employees while supporting their healthy productivity.”
