Companies that prioritize employee experience result in more equity, higher retention rates, and more talent. ThoughtExchange helps you invest in your employees, so they can invest in you.
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How Enterprise Leaders are Improving Corporate Culture
A healthy corporate culture is key to a healthy organization—increasing employee engagement, retention, equity, and your bottom line. To get it right, you’ll want to make company culture everyone's job. Involving your people can be cumbersome and time-consuming, but ThoughtExchange can help make the process more efficient. Here’s how.
“Culture has become a strategic priority with impact on the bottom line. It can’t just be delegated and compartmentalized anymore.” Source: HBR
Prioritizing the employee experience
Chances are, the customer experience is at the top of your business’ priority list. But what about the employee experience? A positive employee experience is essential for a thriving corporate culture.
However, a recent Gartner survey found just 13% of employees are satisfied with their experience—and more than 44% of U.S workers say they’re currently looking for a new job.
So how do you build a stellar employee experience? Engagement surveys aren’t enough. Dive deeper—listen to your employees’ voices and act on them.
Multinational organization improves employee experience with better engagement strategy
A multinational organization wanted to improve its employee experience in order to lower attrition. Understanding the importance of effective employee engagement and nuanced feedback, they used ThoughtExchange to ask:
What actions can we take to address stress, wellbeing, and the employee experience this year?
Their Exchange surfaced insights from a diverse range of participants:
- 12 languages
- 45 countries
- 68% individual contributors
- 32% leaders
Their employees shared the actions that would have the most impact on retention, including improving access to development opportunities, building flexibility with a work from anywhere option, and implementing flex and do not disturb time to reduce stress.
Get results snapshot from Insights to Action report
Insights to Action report shows leaders the top-rated thoughts, an Exchange summary, and the major themes. It provides a snapshot of the results (immediate opportunities or red flags) and guidance for further analysis.
See what’s most important at a glance
The Themes feature groups thoughts into similar ideas. Whereas a survey would only reveal frequency, an Exchange also reveals importance. With Themes, leaders learned that while adding staff was important, they needed to address flexibility for existing staff immediately.
Improving employee retention
Struggling to retain employees? Ask yourself how engaged your people are—because engaged employees are more likely to stick around.
Employees who feel included are 50% less likely to quit.Source: Inc.com
And that’s not all. According to Gallup, “engaged employees produce better business outcomes than other employees—across industry, company size and nationality, and in good economic times and bad. But only 15% of employees worldwide and 35% in the U.S. fall in the ‘engaged’ category.”
Bring your employees together to collaborate and solve problems. They’ll become more invested in the final outcome. Connecting with your teams and encouraging employee input and information-sharing are essential to increasing employee engagement and improving retention.
High-growth company improves employee retention
A high-growth company was having difficulty attracting and retaining frontline employees and managers, limiting their revenue potential.
So, they launched an Exchange to gather insights from their people, asking:
How do we attract and retain frontline employees?
They used feedback to understand retention and morale challenges. “Skill gaps at store level” was one of the top employee concerns.
Isolate priorities to tailor strategy
Survey questions allow leaders to break down data by group, store, or tenure. In this case, they revealed which insights mattered to which groups, allowing the company to implement a more tailored strategy to improve employee experience. Better employee experience leads to increased retention and a more equitable workplace.
Identify common ground for supported strategy
Differences lets leaders identify common ground and tackle challenges armed with real insights. In this case, Differences showed that both management and frontline employees required more standardized training to close skill gaps. It also revealed their distinct priorities.
Involve your people in a more equitable culture
An Exchange allows leaders to involve frontline employees in the decisions that impact them, contributing to a more equitable culture.
ThoughtExchange for a healthy corporate culture
ThoughtExchange helps leaders tap into their people’s collective intelligence to create a healthy, inclusive corporate culture and stellar employee experience. With increased employee engagement, retention, and equity, your organization will thrive. Find out how ThoughtExchange can help.
ThoughtExchange improves employee experience. Find out how.
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