Ceridian Report: Employee Experience Paramount in the Future of Work
Intelligent HCM technology key to retention as majority of New Zealand’s talent eyes new opportunities
According to the Ceridian Pulse of Talent report, the majority of the New Zealand 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 New Zealand workforce is looking for new job opportunities or would consider moving jobs if approached by another company (67%)
- Younger workers, under the age of 30, are the most likely to be on the move (79%)
“We’ve experienced fundamental changes across the workplace this year that have required us to embrace intelligent technologies that create value for employers and employees,” said Stephen Moore, Head of Asia Pacific & Japan, Ceridian. “Employee experience is central to these changes. What was once a nice-to-have workplace perk is now tightly aligned 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 (28%), followed by good work life balance (24%), and the overall work environment (14%). However, when asked what was the most important factor that keeps people with an employer, engaging work topped the list.
Moore added it’s essential that organisations put the physical, mental and financial well-being of their people first. Failing to invest in employee engagement can impact a company’s bottom line. According to Gallup, organisations that best engage 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:
- 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 organisations.
- 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.
- Collaborate and facilitate continuous training: Learning experience platforms help engage employees who can share their expertise within a channel or discussion forum. This creates a collaborative environment to help answer questions and develop skills across the organisation.
To download the 2021 Pulse of Talent Report, visit Ceridian.com/au/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.