Documente Academic
Documente Profesional
Documente Cultură
Experience Advantage
How to Win the War for Talent by Giving Employees the Workspaces They
Want, the Tools They Need, and a Culture They Can Celebrate
Jacob Morgan
Wiley © 2017
304 pages
[@] getab.li/29189
Book:
Rating Take-Aways
8
9 Applicability • Everyone wants positive experiences, including employees on the job.
7 Innovation • The “employee experience advantage” occurs in workplaces where the employees’
8 Style desires and requirements intersect with the firm’s plan to satisfy them.
• Providing the right employee experience engages your workforce and gives you a
competitive advantage.
Focus • Deliver great employee experiences across three work environments:
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This document is intended for the use of CFA Institute members and employees. 1 of 5
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Relevance
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What You Will Learn
In this book summary, you will learn:r1) What makes a firm “experiential,” 2) Why delivering a positive “employee
experience” matters, 3) Where you should focus your experiential efforts and 4) How the top firms offer a high-
quality employee experience.
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Recommendation
A 2015 Gallup study found that only 32% of US workers feel engaged in their jobs. To combat this epidemic of
disengaged employees, embrace the concept of providing a positive “employee experience” in every facet of your
organization: cultural, physical and technological. Author Jacob Morgan explains how and why companies that give
their employees positive experiences become corporate winners. He provides vital information – down to a catalog
of specific metrics – on how to make your employees happier while boosting your profits. getAbstract recommends
Morgan’s affirmative manual to senior executives.
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Summary
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Making Employees Happier
Google provides its employee with perks that include free food, concierge services, haircuts,
subsidized childcare, oil changes, car washes, shuttle services and delivery of organic
groceries. Workers enjoy some of these perks for free or for reasonable fees that the
company negotiates with vendors. Google prides itself on providing positive “employee
getabstract experiences.” Pandora, the Internet music service, works out an individual agreement
“The future of work
is about completely
with each employee that identifies his or her job preferences, including what he or she
redesigning our specifically needs, wants or requests in order to be able to work most productively.
organizations to put Pandora managers oversee – and take responsibility for delivering – the terms, conditions
employee experience at
the very center of how and benefits in these agreements. Adobe Systems, the multinational computer software
they operate.” company, totally redesigned its work and discussion spaces, including outdoor patios,
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community areas, alternative workspaces, cafes, open floor spaces, places for games,
meditation areas, a gym and even a place to get an artisan sandwich. Adobe’s rank of
executives includes a vice president of employee experience. Many other companies now
include such officers on their leadership rosters.
Aspirational Goals
Focusing on employee experience is the natural evolution of employee engagement, now
supplemented and extended. Positive experiences engage your workforce. To foster such
Employee experience, on the other hand, means replacing the engine, which will improve
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performance no matter how the car looks. Rather than spending money on “well-being
“Regardless of strategies,” pursue programming that will improve your employees’ lives and boost your
how hard you try to
create the perfect
firm’s performance.
employee experience
for everyone, there will “People Analytics”
always be people who
are less than satisfied.” People analytics, a subset of data science, can help you learn more about your staffers and
getabstract what they need. Such analytics can give you a “core foundation” for planning employee
experiences. This expanding field gathers data for companies and gives them the insights
they need in order to make informed decisions about their staff. For example, IBM embraced
formal people analytics in 2010. It now employs 70 experts in the field. The company used
Employee-Experience Categories
Most companies fall into one of these nine employee-experience categories:
1. “inExperienced” – These companies just exist without any identifiable mission. They
seem content do to business as it was done prior to the 1990s. Money is their motive.
getabstract 2. “Technologically emergent” – These firms provide advanced high-tech tools.
“Engagement has
remained relatively 3. “Physically emergent” – These companies focus primarily – or solely – on improving
unchanged despite our their physical spaces.
collective investments.”
getabstract 4. “Culturally emergent” – These organizations strive to develop the robust corporate
cultures that support employees.
5. “Engaged” – These firms work hard to improve their culture and their physical settings.
6. “Empowered” – These organizations succeed in technology and culture, but offer a
poor environment.
7. “Enabled” – These organizations have a good physical plant and fine technology, but
their culture is inadequate..
8. “preExperiential” – These firms do well, but don’t excel in all three environments.
9. “Experiential” – This is the top rank for firms that offer great employee experiences.
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“In organizations
where managers Attributes of Employee Experience
act like rulers and Seventeen special attributes – factors that are important to your employees – distinguish
dictators, the employee
experience suffers
experiential firms. Visualize a pyramid as the outline of your plan. The base of the pyramid
tremendously.” is your firm’s essential purpose. The next level contains the three employee experience
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environments: technological, physical and cultural. Then come the 17 variables:
The top of the pyramid focuses on giving employees special attention at pivotal moments,
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“Checklists and steps like when they begin a job. These measurable attributes differentiate your firm from
are great for putting companies that believe that their employees are just part of a machine, “managers are
together furniture and
baking cakes…simply zookeepers and work is drudgery.”
ticking off the boxes
won’t result in great
employee experiences.”
Experiential Firms Succeed
getabstract Experiential companies routinely outperform firms that don’t offer positive employee
experiences. In the metrics that matter, “experiential organizations had…40% lower
turnover, 1.5 times the employee growth, 2.1 times the average revenue, 4.4 times the
average profit, 2.9 times more revenue per employee, and 4.3 times more profit per
employee when compared with nonexperiential organizations.” As a rule, experiential
firms’ stock prices do better than those of other firms. Experiential companies score high
for innovation, brand value and customer satisfaction. They tend to be “smarter, greener,
happier and more diverse.”
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“Experiences stay
with us throughout Going Experiential
our lives…they shape You can’t transform your company into an experiential firm by copying Apple, Airbnb or
who we are as human
beings [and] help us Amazon, or by applying a rigid checklist to your operations. Instead, adopt psychologist
connect with and build Daniel Kahneman’s famous System 2 thinking: aim for something purposeful and
relationships with
others.”
deliberate. Base your planning on people-analytics data and input from your employees.
getabstract Focus on them and what they want. Avoid short-term fixes. Becoming experiential is a long-
term, multisided, continual effort. It is an “infinity loop,” a constant circle of interactions
and communications from the staffers to the company and back. This loop travels endlessly
through these phases:
• “Respond” – Seek employee feedback to learn what your workers like and want their
experiences to be. Utilize “apps, internal social networks, surveys, focus groups, one-
getabstract on-one interviews” or whatever method works for your firm to gain this feedback.
“Life is short. We all
deserve…to work for • “Analyze” – Use the feedback to develop insights about your next steps.
an organization that • “Design” – Create your experiential program.
has been (re)designed
to truly know its people • “Launch” – Start your employee experience program; have it address your firm’s
and has mastered the physical, technological and cultural environments.
art and science of
creating a place where
• “Participate” – Your employees participate in new positive experiences.
people want, not need,
to show up to work.” To make your organization more people-centered, provide a range of positive experiences
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for your employees. They will thank you, as will your customers. And your bottom line
will benefit. A positive employee-experience program also will improve your recruiting
especially as your firm becomes increasingly well known as a great place to work.
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About the Author
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Best-selling author, speaker and futurist Jacob Morgan’s previous books include The Future of Work and The
Collaborative Organization. You can go online to take an assessment of how your company ranks on the 17 variables
at https://TheFutureOrganization.com.