August 15, 2019
Jeanniey Mullen is the CMO of DailyPay. Throughout her career, she has led global marketing and growth for Fortune 1000 companies including Mercer, Ogilvy, Barnes & Noble and JCPenney. Mullen has also authored several books and launched five companies. Most recently, she was named transformational CMO of the year by the CMO Club.
Employee experience is often confused with employee engagement. The two terms are not mutually exclusive, but there is a difference: the experience comprises everything an employee encounters during their entire journey with a company; engagement is how connected an employee feels to a company’s goals, values and culture.
During an employee’s tenure with a company, their level of engagement will determine their opinion of the company’s employee experience. Companies should, therefore, feel incentivized to offer an array of programs and experiences that help employees feel more engaged. This could be accomplished through innovative benefits (like on-demand pay or a daily pay benefit), overall culture, compensation and multiple other factors.
Jacob Morgan, author of “The Employee Experience Advantage,” says employee experience can be broken into three pillars:
A well-designed employee experience accounts for an employee’s desires, but also supports employer expectations, wants and needs.
When employees feel well taken care of, they are more likely to work harder and maintain a higher quality of work. For employers, this equates to reduced costs associated with turnover, absenteeism, lost productivity and poor product quality.
To get to the bottom of what your employees want from their experience with you, consider trying some of the following tactics:
Learn about employee needs: Administer a quick survey to learn what types of resources, technologies and working spaces your employees want in their day-to-day experience. This could be done through an eNPS survey or an engagement survey platform.
Encourage autonomy: Include employees in the decision-making process as you make workforce changes. That means giving your staff project ownership and allowing them to feel invested in the business through their contributions.
Consider new benefits: Are you offering the right benefits? Nearly 80% of Americans are living paycheck-to-paycheck and lack savings to handle unexpected expenses. At DailyPay, we refer to these employees as ERINs (Employees Requiring Income Now) and there’s a good chance your workforce is primarily comprised of ERINs. Given that, employers may want to consider supplementing traditional benefits, like accrued PTO, with benefits like instant access to earned wages via a daily pay benefit. Doing so will show that your organization empathizes with your employees’ true needs.
The ever-growing human resources (HR) technology marketplace can help you accommodate the needs and wants of your employees. HR tech can improve all facets of a business, including the recruiting processes, employee self-service, and learning and development programs. Accounting for your employees’ needs in this way will underscore how much you care for them, and go a long way to improve employee engagement, the overall employee experience and, ultimately, your organization’s bottom line.
DailyPay provides the daily pay benefit — a benefit offered through employers that allows employees to receive instant access to their earned wages, works across a wide range of industries, including quick service restaurants, hospitality, retail, healthcare and other services. DailyPay is partnered with Ceridian to offer a seamless on-demand pay experience to employees through Ceridian’s customers. DailyPay is only available to companies in the United States. To learn more about DailyPay, a Ceridian software partner, click here.