TL;DR: Having a sustainable employee experience strategy helps fintechs provide better products for their customers. It should be simple, empathetic, and respond to team members’ expectations and needs.
The world of work is changing rapidly. To provide better products and more personalized experiences, companies are placing knowledge, ideas, and experience at their center. This is because disruptive technology wouldn’t exist without the people who create it. In general, companies that understand that their competitive edge lies in their people are more successful in attracting more customers.
The human factor is particularly important in fintech, a sector that attracts large capital investments. However, the market is always in flux: new technologies, platforms, and ideas break into the scene every single day.
What’s the fintech sector doing to offer a satisfying employee experience? In this blog, we’ll explore three key actions part of any effective strategy.
Understanding the basics in an employee experience strategy
An employee experience is what an employee is looking for in contrast to what an organization can offer in response to those expectations. Companies deeply committed to a positive experience are those that know their employees well and understand how their well-being is associated with company success.
Therefore, part of mastering talent management involves a thorough understanding of the employee lifecycle and its five stages.
The first contact begins in the recruitment phase. Knowing how a candidate felt throughout the hiring process is incredibly important as it sets the stage for the following phases.
A complete introduction to the systems, tools, and processes in the organization is the second phase. Certainly, good onboarding allows new team members to understand the organization and develop better connections with everyone. As I mentioned in a previous post, one of our key strategies is to provide high-quality recruitment and onboarding.
People who remain in the company respond to a strong retention strategy and a profound connection with the company’s vision. People who have developed their aspirations within the organization make up steps three and four in the experience cycle. The cycle is complete once a person exits the company. Understanding why employees leave is key, as it provides great insight as to how to create better development and retention strategies.
Now, what should every employee experience strategy include?
Read our latest white paper to learn more about employee experience and talent management in this industry.