Want to become a better professional in just 5 minutes?
What is Workplace Experience, and why should you prioritize it in 2020?
The numbers are in, and the verdict is clear: the U.S. economy continues to defy gravity.
The latest jobs report shows that the U.S. added 266,000 jobs in November. Unemployment is at 3.5%, its lowest since 1969, while inflation remains much lower than expected.
That’s 11 straight years of economic growth, 11 solid years of recovery from the 2007-08 financial crisis.
Even the most nervous (or cynical) economists and regulators are seeing this sustained growth for what it is. Just look to the markets, writes Neil Irwin of The New York Times. Whereas in the past a strong jobs report was seen as a cue that the Fed might attempt to slow things down, “this time, analysts and financial markets seemed to take the big-time job growth numbers in stride, given that they weren’t accompanied by any signs of ill effects from the low unemployment rate and strong growth.”
The news underscores the urgent need for companies to double down on an important, yet oft-neglected, area of their business: Workplace Experience.
The bottom line – key indicators demonstrate that the U.S. economy can continue to grow without overheating.
The Bad News
On the whole, this is great news – a growing economy is a rising tide for all ships. But it does underscore the urgent need for companies to double down on an important, yet oft-neglected, area of their business: Workplace Experience.
Time to state the obvious – historically low unemployment means a universally tight labor market.
It’s not just perennially in-demand labor markets like tech or engineering. This tightening is being felt everywhere. The average American employee has more job security – and therefore more choice – than they’ve had in the past half century. The more sought-after the talent, the more leeway they have.
With employees more empowered than ever to choose where they work, companies who don’t prioritize workplace experience are at a distinct disadvantage when it comes to recruiting and retaining top talent.
And of course, talent is everything.
One truism in business that will stand the test of time – your company is your people. All the value your company creates – be it your product, brand, technology, or IP – was created by a person or a team of people.
Hiring and keeping the best talent is necessary for success, and it requires a Workplace Experience that continually exceeds employee expectations and empowers them to do great work.
But how do you do that?
At SnackNation, we’ve taken a holistic approach, creating a Workplace Experience Services program designed with the “whole person” in mind.
In practice, this means taking a step back and focusing on the idea of fulfillment.
In order to be fulfilled, human beings need two things:
- To feel connection with others
- To make a meaningful impact
A successful workplace experience does both. The companies who get it right will create spaces for connection and conditions that empower people to do the best work of their lives.
Instead of a water cooler and a coffee maker, the break rooms of tomorrow will be gathering places, more akin to a cafe or a local pub. They will be spaces for serendipitous encounters and spontaneous interactions, for eating, socializing, and working too. They will be the centerpiece of the working environs, a space that expresses the organization’s culture and values, and therefore will be front and center, not hidden away.
The end result – employees will enjoy work more, both because the environment is joyous, and because it enables them to feel fulfilled by doing great work.