Employee Experience industry useful reports – October 2024
EX industry useful reports – October 2024
Here’s links to recent reports we’ve come across that we’ve found interesting and some of our key takeaways from them.
Are the billions spent on workplace wellbeing being spent wisely?
This report from Ipsos Karian & Box discusses wellbeing that works.
Top takeaways:
- The wellness market was valued at $61.2bn in 2021 and is projected to grow to $94.6bn by 2026 - But are all these billions being spent wisely, or on tick-box support?
- To support with wellbeing, organisations need good change management - Too often too many of the same types of people are in change projects, the end user isn't listened to enough, and it's deliver it, and move on.
- Only 52% of respondents feel supported through change - If the cliche of change is the new constant is true, organisational performance will surely suffer.
- The main course of burnout is having too many demands - Organisations need to understand what motivates their employees and then leverage this to get them working on tasks that energise them - this will boost productivity. Of course, organisations also need to get resourcing right.
It appears that a change isn’t as good as a rest for many employees. But if you want to understand which of your employees are up for change, which will need more support, and how to get the right mixture of employees in a project team – then you may wish to consider mojo.
Hint: You don’t want 100% of people in a change team to be change-friendly.
Link to report: https://ipsoskarianandbox.com/insight/72/wellbeing-that-works-tackling-burnout-through-leader-led-change
Employee Experience isn’t EXcelling
This report by primepay discusses the current state of employee experience.
Top takeaways:
- Only 17% are excelling at the employee experience - Oh dear!
- As changes within an organisation accelerate or multiply, the burden on HR increases - It does if changes are not managed well. Poor change management can lead to distress, feelings of not being heard, burnout and more.
- 62% employed an internal communication strategy - To those 38% that haven't: Don't you want to inform, engage and inspire your employees?
- Only 30% conducted exit interviews - This really is prime time feedback as employees no longer have skin in the game.
From this report, it appears that many organisations don’t even have what many would consider to be the basic building blocks of EX. You can’t build a house without the foundations etc. The best place to start is with an EX Audit – this will show you where you’re going right and where you need to improve. And, importantly, they involve your people.
Link to the report: https://primepay.com/wp-content/uploads/PrimePay_2024ResearchReport.pdf
What are you doing to prevent 'work wounds'?
This article in Forbes discusses workplace bullying and its implications.
Top takeaways:
- According to The Workplace Bullying Institute, 79.3 million U.S. workers are affected by workplace bullying with 65% of bullies being bosses - So much appears to be top-down; perhaps highlighting a lack of empathy from leaders.
- Employment lawsuits and claims on the rise - An indicator of poor culture and something which can prove very costly to an organisation in terms of finances and reputation.
- Work wounds often boil down to one of the three B’s: Bullying, Betrayal and Bad Behaviour - Employees who suffer these will long remember and they can impact upon wellbeing and performance.
In the article, Bree Johnson, founder and CEO of Executive Unschool, is quoted as saying: “Companies invest thousands of waste in performative wellness programs, conferences and travel and superficial team-building activities that they hope will solve their problems. However, without addressing underlying work wounds infecting the company’s culture, these efforts are akin to placing a bandage on a much larger wound.”
At Brand Experiences, we always say: ‘stop treating symptoms, cure the causes’. It really should be people before perks.
Link to the article: https://www.forbes.com/sites/bryanrobinson/2024/09/12/4-ways-to-prevent-employee-work-wounds-from-contaminating-work-culture-in-2024/