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How an Employer of Record Can Improve Your Employee Experience

What is employee experience?

According to CultureAmp, employee experience encapsulates what people encounter, observe, or feel over the course of their employee journey at an organization.

Why is employee experience important?

Many facets of an organization are affected by an employee’s experience within the company. Below are a few critical areas that employee experience can affect:

  • Retention – a welcoming introduction along with a thorough onboarding can make a huge difference in an employee’s connection and desire to stay at a company.
  • Recruiting – most job seekers look for reviews and information about a company on websites like Glassdoor where current and past employees can leave public reviews about their employee experience at your company. Reviews related to employee experience can either attract or deter potential talent for your organization.
  • The bottom line – according to an analysis of over 250 global organizations, companies with high employee experience benchmarks have four times higher profits and 40% lower turnover than those who didn’t.

In short, investing in a positive employee experience can play a crucial role in the success of your company.

How can an Employer of Record improve your employee experience?:

First, let’s define what an Employer of Record (EOR) is: An EOR is the full legal employer of a business’ payrolled workers. Essentially, your business finds the talent and an EOR takes care of all of the legal duties, such as but not limited to: onboarding, timekeeping, wage and bonus payments, offboarding and more.

This means that an EOR handles two of the biggest milestones in the employee experience lifecycle:

  • Onboarding: Onboarding starts the second your talent accepts your offer and it can significantly impact your talent’s tenure. In fact, new employees who experience a structured onboarding program are 58 percent more likely to be with an organization after three years.
  • Offboarding: Let’s be honest, most workers don’t stay at the same company their entire life. But, they can have a lasting impression of your company their entire life and can influence others along the way. Thus, conducting a well-structured offboarding experience that aims to understand their reasons for leaving, can prove to be one of the most powerful tools in improving your company’s overall employee experience.

At iWorkGlobal, we can engage your talent anywhere in the world. No matter what country your talent is in, our unwavering commitment to provide best-in-class service means that our team of global experts are there every step of the way ensuring your talent has the best possible employee experience, from start to finish. So, if you’re company is ready to improve the way your workers experience the workplace, we’re here to help!

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Learn more here.

 

 

 

 

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