Ceridian Report: Employee Experience Paramount in the Future of Work
Intelligent HCM technology key to retention as majority of North America’s talent eyes new opportunities
According to the Ceridian Pulse of Talent report, the majority of the North American workforce could be moving on to new job prospects, underscoring the growing importance of modern employee experiences and retention strategies in the future of work.
The report revealed:
- The majority of the North American workforce is looking for new job opportunities or would consider moving jobs if approached by another company (US: 64%, CAN: 68%)
- Younger workers, under the age of 30, are the most likely to be on the move (US: 75%, CAN: 87%)
“The past year has thrust the future of work upon us, and with it comes an urgency to implement intelligent technologies that create value within this new reality,” said Susan Tohyama, Chief Human Resources Officer, Ceridian. “Employee experience is no exception. What was once a nice-to-have workplace perk is now inextricably tied to business resilience and sustainable growth.”
While pay remains important, engagement most important factor for retention
The report revealed that pay is the top factor that entices talent to apply for a role (US and CAN: 36%), followed by good work life balance (US: 19%, CAN 18%), and the overall work environment (US:12% and CAN: 13%). However, when asked what was the most important factor that keeps people with an employer, engaging work topped the list.
Tohyama added that while turnover is an expensive consequence of failing to invest in employee engagement, the impact to a company’s bottom line may be even greater. According to Gallup, organizations that are the best in engaging their employees achieve earnings-per-share growth that is more than four times that of their competitors.
Ceridian offers the following tips to design a modern employee experience for the new world of work:
- Reimagine pay: On-demand pay solutions offer employees the flexibility to access their wages as they earn and need them, helping to improve financial wellness, attract top talent, and drive engagement. The ability to get paid on-demand is quickly becoming a basic workplace requirement.
- Leverage employee surveys to understand your people: Gather first-hand employee feedback at any time through quick pulse checks, or go deeper with quarterly or annual engagement surveys. As work from home becomes the norm, keeping a pulse on employee sentiment is increasingly important for global organizations.
- Provide a modern employee experience: Provide a simple, modern experience for leaders and employees by using a central hub. Employees can take control of their own work experience and find the information and tools they need to be productive wherever they live and work.
To download the 2021 Pulse of Talent Report, visit Ceridian.com/resources/talent-management-strategies-pulse-of-talent-report
Methodology: Nielsen conducted the Pulse of Talent research study via an online questionnaire, from August 4 to 27, 2020 among 5,010 respondents, aged 18+ across Canada, U.S., U.K. Australia and New Zealand who are members of Nielsen’s online panel. Results were weighted by respondents’ demographics based on census data to align with the proportions of the population.
Ceridian. Makes Work Life Better™.
Ceridian is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.