Today HR leaders face a myriad of unprecedented challenges when it comes to their workforce. Between widening IT and AI skills gaps, the ups and downs of hybrid work, and stagnating employee engagement — to name just a few issues — today’s workplace leaders are juggling a lot to keep their employees satisfied and thriving.

This is all happening against the backdrop of a complicated and uncertain labor market. A recent U.S. jobs report showed that 272,000 jobs were added in May, significantly more than the 190,000 that economists forecast. However, we also saw unemployment tick above 4% —the highest it’s been in over two years — signaling that while job growth was strong, it’s cooling overall.

With quit rates down and more workers staying put in their current roles, workplace leaders must consider how they’re investing in employee experience over the long term. A positive employee experience is not only good for workers, it’s good for customers — and, in turn, for a company’s bottom line.

Happy employees do lead to happy customers

Research has shown a clear link between employee experience (EX) and customer experience (CX), confirming that happy workers lead to happy customers. This link may be obvious — satisfied, motivated, and fulfilled employees are more likely to show up for their company’s customers and clients. However, the path there is not always straightforward, and HR leaders often bear the burden of ensuring good CX by cultivating good EX.

And so what makes a good EX? It tends to be rooted in fulfilling employees’ most foundational, basic, and personal needs — paying them a living wage, investing in their career growth, and ensuring work-life balance, strong benefits, and overall well-being. When employers’ priorities align with those of their employees, companies see reduced turnover, higher employee engagement, and increased productivity.

This leads to better experiences for customers and is something that can directly translate to better business outcomes. Research demonstrates a direct relationship between employee engagement and business performance. In other words, investments in employees are not only a “nice-to-have” but a “need-to-have.”

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Source: Linkedin, Dan Schawbel, July 2024