Employers today are in an uphill battle for talent. Candidates are clear: employee experience is one of the main criteria in choosing a new job.
Consider geographic differences
To attract and retain top talent, companies must differentiate themselves by offering benefits that go well beyond salary, integrating overall well-being and enriching experiences. In exchange for these optimal experiences for their employees, employers create the conditions to surround themselves with more committed employees with an increased level of loyalty.
Considering this paradigm shift, a mistake that is often found in international companies is to consider all employees, regardless of the country or region of the world, as a monolith – “what works here, must work there -bas”, but HR strategies need to be adapted.
Some geographical differences are very marked. According to a Mindset study conducted by Alight in conjunction with Kantar, only 7% of French people agree that they have a good work experience, compared to 13% of employees in the UK, Germany and the Netherlands. -Down. While in the United States, 27% of respondents say they are satisfied with the employee experience offered by their employer. In Europe, nearly two-thirds of employees are thinking of leaving their company, and one-fifth dreads their working day. It seems obvious that there is still progress to be made.
Forget the ready-made solutions
Remote work and flexible working have been on the rise during the pandemic, but many employers are still grappling with how to incorporate forward-looking work models. Many organizations have embraced remote working and recognize the benefits; between 50 and 60% of workers say that this form of collaboration has a positive impact on their well-being, according to the Mindset study. In Europe, 47% of employees would refuse a job offering less flexibility than what they currently have with flexible working hours or teleworking.
Of course, there are still regarding half of the people who have a different opinion on this new model. Experiences vary, European employees, especially French, report that their experiences at work are less positive at a distance with a direct impact on their general well-being. Likewise, they don’t feel as supported in hybrid working conditions.
In addition to flexibility, employees expect support and recognition that correspond to this new model. For example, the Mindset study shows that people want to be compensated appropriately for working remotely. Whether people are remote or onsite, it is important to invest in programs that support this new paradigm of flexibility.
Investing in well-being pays off
The watchword that seems to cross the world today is “well-being”; 65% of Europeans say that wellness programs make a company more attractive. Over the past two years, due to the effects of the pandemic and lockdowns, mental health support has rightly grown in importance. Managing stress, burnout and a healthier work-life balance deserve to be seen as an ongoing area of focus for employers. Stress-related concerns are on the rise, with more than seven in ten employees (73%) reporting moderate to high levels of stress and more than four in ten citing symptoms of burnout.
Well-being has a positive impact on productivity. In Europe, employees claim that better productivity is due to a sense of well-being at work, authenticity and the way people are treated. Increasingly, financial reward comes following more intrinsic reward measures – indicating that investing in wellbeing pays off for everyone. By tailoring wellness initiatives to local needs, employers address the factors that really affect productivity, ensuring an effective return on investment.
The good news is that there are simple possibilities to offer tailor-made wellness programs that meet the expectations of individuals while promoting greater productivity. In the UK and US, 91% of people surveyed in the Mindset study who had used their company’s stress management programs in the past year said they liked them. However, only 15% of respondents had access to such a program.
Money problems in the world require adapted approaches
That said, what is also clear is that the wellness initiatives that employees in a given territory value may vary from country to country. Take the example of financial well-being, which measures the extent to which employees feel in control of their financial future – a crucial facet of overall mental health. Overall, people are stressed regarding the state of their finances. In Europe, 65% of employees do not feel that they have complete control over the management of their financial resources.
Shades matter. For example, in Germany, 30% of respondents said that their level of personal debt had a negative impact on their quality of life, while in France, 45% of respondents said they had no control over their finance, the highest percentage of all the countries surveyed. Generic advice and support for financial well-being must be adapted to real needs. More than six in ten (67%) said the ability to get paid more often would be valuable, and more than half (56%) said they would welcome alternative options such as remuneration daily and anticipated, rather than having to wait until the end of the month to access their remuneration.
Today’s global talent crisis demands a robust and proactive response from employers. Without thoughtful investment in personalized employee experiences, companies risk losing their greatest asset: their people. Right now, employers who put talent first will reap the rewards, while those who are slow to do so will have to watch valuable talent leave for greener pastures.
