Today, every firm is looking for the magic formula that will help them win the war for talent — that combination of salary and benefits that will convince talented professionals to come to work for you and stay for their careers. The problem is, while salary and benefits are an essential component of attracting and retaining people, firms are overlooking the employee experience.
The employee experience, or EX, is a worker’s perceptions about their journey through all the touchpoints at your firm — from the moment they look at a job opening to the day they leave your company, and everything they learn, do, see and feel along the way. Your physical workspace, firm culture and technology are all crucial components of EX.
Every company wants employees who are happy to be at work, but employee experience goes beyond making people happy. It’s about attaining the benefits that come with happy, engaged and productive people, which can significantly impact your organization.
In fact, according to a report from The Josh Bersin Company, “
- 2.2 times more likely to exceed financial targets;
- 2.4 times more likely to delight customers;
- 5.1 times more likely to create a sense of belonging;
- 5.2 times more likely to be a great place to work;
- 5.1 times more likely to engage and retain employees;
- 3.7 times more likely to adapt well to change; and,
- 4.3 times more likely to innovate effectively.
Creating the employee experience
Many firms talk about improving EX, but they don’t know where to start. As a result, they tend to take a “whack-a-mole” approach: taking employee surveys, hosting team building activities, and other initiatives that, while well-intentioned, fail to move the needle.
What you need is a framework for improving the employee experience strategically. Here is that framework.
Step 1: Build the EX team. Creating an excellent employee experience isn’t a solo project. When you take a team approach, you get a better view of every point of contact the employee has with the firm.
Your EX team should be made up of the following roles and responsibilities:
- Champion. This may be a partner or your chief human resource officer. They need to be a team-builder, access to necessary resources and enough influence to get buy-in for change.
- Team lead. The team lead drives the execution of the project by ensuring things get done. They need project management skills and a high level of accountability and responsibility.
- Facilitator. Bringing in an outside facilitator can shorten your project timeline and deliver higher-quality results. The facilitator should have a deep understanding of the inner workings of an accounting firm and a sense of where the profession is going.
- Cross-functional team members. Your cross-functional team should include people from different departments and levels of the firm, including your admin team.
Step 2: Create the current EX Journey map. Your EX team’s first task is to document the existing employee experience. While it might be tempting to jump ahead to discuss what needs to change, by taking the time to understand your current EX, you can identify positive areas and build on those successes.
When documenting the existing EX, think about each stage the employee goes through, from the day they apply for a job to the day they leave. What emotions and pain points do employees experience at each of the following five stages?
1. Recruitment. Are job postings clear and application instructions easy to follow? How long does it take to get through the recruitment process? Are candidates left hanging?
2. Onboarding. Are people welcomed on their first day, made to feel like part of the team, and given the necessary training to get up to speed with the systems, tools and processes your firm uses?
3. Development. Are people given opportunities to develop within their role and expand their skill sets? How do you handle promotions and performance evaluations?
4. Retention. Major milestones in a person’s life can impact their decision to stay with the firm. How well does the firm handle parental or other extended leave? Do you celebrate birthdays, anniversaries, and other personal and professional milestones?
5. Exit. Employees leave for a variety of reasons. Finding out why is an opportunity to improve the employee experience for other employees. Plus, treating people well when they go opens the door to having talented people return to your firm in the future.
During this stage, it’s crucial to be honest about what’s really happening in your firm. Sometimes the truth hurts, but if you aren’t willing to look at what’s wrong with your existing EX, you’ll miss valuable opportunities to fix it.
Step 3: Research and development. Once you’ve mapped the existing EX, you can vet potential improvement ideas. This stage might include:
- Soliciting internal feedback;
- Sending employee surveys;
- Revising existing tools and processes; and,
- Evaluating potential technology solutions.
Step 4: Create your improved EX Journey map. Now, with the ideas you generated in the research and development phase, you can create and document your improved EX Journey map.
Don’t forget that creating an employee experience is an ongoing initiative. Each year, set aside some time for your team to review your EX journey map and look for opportunities to further improve and refine it.
There is really nothing more important than the employee experience in your firm, since every other element — client experience, growth and long-term profitability — starts with your people. Start putting your people first, and the rest will follow.
