Our breakthrough research into what differentiates a high-performance employee experience (HPEX) reveals where organisations can focus their time and energy to have the greatest impact. Over the 12-part series, we'll be exploring each of the critical components of employee experience, and sharing our personal insights and lessons learned.
“Those companies who had a strong employee experience tended to have stronger financials.”
Stephen Young
Global Practice Leader
Employee Insights
In this video discussion we're joined by Stephen Young, Global Practice Leader for Employee Insights, and Angela Paul, Head of Employee Research, who share their views on what employee experience (EX) is all about; they discuss its different components, how they drive value and reduce risk, and how this is all playing out in our new world. Watch our short discussion hosted by Diana Dokotera.
Watch Stephen Young, Global Practice Leader for Employee Insights, and Angela Paul, Head of Employee Research talk about employee experience.
Driving and preserving value through EX
In the discussion, Stephen talks about which components of EX drive the greatest value through increased revenue, sales and levels of customer satisfaction:
- Drive: are we innovating, ahead of the market, and focused on our customers?
- Inspiration: am I inspired by the purpose of our organisation?
- Growth: am I able to realise my career ambitions here?
Research has shown how drive, inspiration, growth, trust and employee voice all factor into the top predictors for sales, revenue and customer satisfaction. Source: Willis Towers Watson “Identifying the factors that make a high-performance employee experience (HPEX)”
The discussion also considers which components of EX preserve value through a focus on efficiency and productivity:
- Organisation: are we well set up, and is it quick and easy to get our work done?
- Support: do we have strong support in place through our line managers and teams?
- Inspiration: am I inspired by the purpose of our organisation?
Organisation, support, inspiration, trust and security are all shown to be factors which influence efficiency and productivity: Source: Willis Towers Watson “Identifying the factors that make a high-performance employee experience (HPEX)”
Impact of COVID-19 on current and future EX
Angela talks about how EX has seen a lift from a year ago, which we might not necessarily expect to see given the impact of COVID-19 on our work lives. What's really interesting is where the lifts have been the greatest. Organisations which have focused on connecting their people to their purpose, making them feel included and enabling them to collaborate, have seen the greatest increases.
Considering the employee experience during COVID-19 we see gains in some areas where organisations have had to adapt.
“We should recognise the success of these organisations to listen to their people.”
Angela Paul
Director
Research & Innovation Centre, London
Looking ahead to 2021, we need to recognise the efforts and successes of 2020, and then turn our attention to really levelling up in the Work and Total Rewards pillars in Figure 4. Angela talks about how organisations can start to tackle this, and how this should be a particular focus in financial services where our research reveals more effort will be needed to achieve this.
For global financial services we see that the green areas are where an organisation scores well, going to the red where that sector may need to improve. Source: Willis Towers Watson 2020 Global Financial Services Companies Norm, N=1,464,310
If you would like to find out more or discuss any of the topics covered in this first edition, please connect with your Willis Towers Watson contact or reach out to the authors below.
Authors
Talent & Rewards
Diana works in Communication and Change management supporting the delivery of Pension and Benefits related communications as well as facilitating internal meetings that aid in business development. When she's not at work, Diana enjoys video editing and content creation.
Research & Innovation Centre, London
Angela supports Willis Towers Watson Software users by helping to design off the shelf content, based on thorough research and statistical analyses of large scale employee survey data. Her goal is to ensure that survey content is based on the latest and most robust research evidence. When she is not working, Angela enjoys films with her sons, walks with her Bernese Mountain Dog, and a good chat with friends at book club.
With over 20 years' experience, Stephanie partners with organisations across all sectors to design, develop and implement a wide range of talent management strategies, programmes and processes. Outside of work, she enjoys sunshine, travel and a good book – preferably at the same time!
Employee Insights
Dr. Stephen Young is the Employee Insights Global Practice Leader for Willis Towers Watson. He has a PhD in business psychology, and 20 years experience advising the world's leading organisations. He spends most of his spare time with his kids, cycling, and supporting Arsenal Football Club.
