{"id":3785,"date":"2022-02-18T06:48:50","date_gmt":"2022-02-18T06:48:50","guid":{"rendered":"https:\/\/news.sap.com\/india\/?p=3785"},"modified":"2023-08-14T17:21:30","modified_gmt":"2023-08-14T17:21:30","slug":"business-resiliency-with-better-ex","status":"publish","type":"post","link":"https:\/\/news.sap.com\/india\/2022\/02\/business-resiliency-with-better-ex\/","title":{"rendered":"Make Your Business Resilient With Great Employee Experience"},"content":{"rendered":"

The pandemic laid bare the frailties in the global business landscape, forcing leaders and organizations to accept and act upon change. Now that it has become clear that COVID-19 may not be the last of disruptions that the world might have to contend with, businesses are looking to engineer change in operations, infrastructure, processes and policies, and crisis responses. As companies re-evaluate their continuity plans, business resilience is the new catchword in the business world.<\/span><\/p>\n

What is Business Resilience?<\/span><\/strong><\/h2>\n

Business resilience is an organization’s ability to adapt its operations, absorb stress and ensure business continuity in the face of adverse situations or change. It is about having the foresight to recognize risk factors and causes of disruption and plan for them. Of course, many businesses currently practice risk management in some manner \u2013 mostly to better understand and mitigate exposure to specific, well-known hazards. Resilience must also encompass unidentified threats, as well as the adaptations and transformations that a corporation must do to absorb and even leverage environmental stress.<\/span><\/p>\n

Contrary to popular perception, contingency plans for business resilience do not mean having largescale organizational resources and ample cash reserves to weather disruption. It is more about adapting than just response. And as old business ways collapse, technology has helped give a head start to organizations invested in building business resilience. Adopting lean, digital-first agile processes has helped them transform legacy business models, reinvent the way they work and reset their business strategy. One way to do so is by leveraging\u00a051风流Business ByDesign<\/a>, which delivers pre-built processes for everything from finance and sales to product management and purchasing on a single, unified solution.<\/span><\/p>\n

However, while crafting business resilience plans, aspects like data recovery, securing IT systems, alternative modes of working, etc occupy a prime place in the minds of most leaders. The critical importance of employees to business continuity is often overlooked. Resilient businesses with loyal and productive employees have a higher chance of bouncing back after a crisis or unforeseen incident. Clearly, a business is only as resilient as its people \u2014 and this calls for outstanding employee experiences.<\/span><\/p>\n

What is Employee Experience?<\/span><\/strong><\/h2>\n

Employee experience can be defined as the continuing relationship between an employee and an organization. It begins right from the interview and onboarding process and continues to be shaped with every interaction that happens after that along the employee life cycle. It encompasses all that defines and influences an employee\u2019s role in the company \u2014 such as the workspace, the role of managers, benefits offered, rewards and recognition, health and well-being and much more.\u00a0<\/span><\/p>\n

Positive employee experiences<\/a> lead to the employee delivering positive customer experiences, thus creating a virtuous cycle that feeds back into employees\u2019 sense of achievement and purpose.<\/span><\/p>\n

Businesses with robust employee engagement practices have a workforce that is invested in achieving organizational goals; one that is more likely to identify with the \u2018one team\u2019 vision driving business goals. This alignment between the employees\u2019 identity and that of the company leads to improved productivity and profits and lower employee turnover.<\/span><\/p>\n

Employee experience \u2014 the unseen factor in business resilience<\/span><\/strong><\/h3>\n

A black swan event such as the pandemic has thrown the definition of employee experience out of the window, to be replaced with one that fits the new normal.\u00a0<\/span><\/p>\n

As businesses shifted from survival to recovery and resilience mode, it became clear that redesigning employee experience is of paramount importance. Most businesses are either planning to or already replacing or refreshing services and product mixes to ride out the challenges of the chaotic past two years. To do that, it is essential to create conducive internal conditions, which translates to redesigning the employee experience to nurture creativity, a sense of purpose and fulfillment.\u00a0<\/span><\/p>\n

This prioritization of the human factor at the workplace is evident in a\u00a0recent study<\/a>\u00a0conducted by Forrester Consulting on behalf of Elastic. The survey of CIOs and IT leaders in 10 countries<\/span>\u00a0revealed that 60% of IT organizations are investing in improving employee experience to support remote workforce productivity and performance. To amplify the impact on employee experience, 57% of IT leaders are collaborating more closely with their HR counterparts.<\/p>\n

\"Employee<\/p>\n

How can a business create better experiences for employees?<\/span><\/strong><\/h3>\n

At the end of the day, companies that don’t develop new and existing personnel at the same rate as their technology are unlikely to have the capabilities they need to advance digital transformation. This will result in their competitive advantage dwindling.\u00a0<\/span><\/p>\n

Here’s how organizations can make the most of their talent and establish truly resilient companies.<\/span><\/span><\/p>\n