7 essential employee experience metrics to track

The employee experience is, in short, everything that occurs between signing the contract and eventually saying goodbye. It is the full onboarding process, the psychological, physical and social conditions throughout their time at the company, reviews, promotions, transfers and beyond. But the diversity of factors that make up EX doesn’t have to be a challenge: Think of it as a buffet of opportunities to offer something new and exciting to keep your employees engaged and feeling appreciated.

Why measure the employee experience

Tracking EX reveals opportunities to improve employee engagement and boost job satisfaction in ways that might not otherwise be visible. Happy employees are productive employees. Plus, when you keep your team engaged, you’re likely to see higher retention rates.

Measuring employee experience also allows organisations to make more (and better) data-driven decisions. Instead of relying on gut feelings or even informed guesses, you can use hard data to identify tangible areas for improvement – and to celebrate what’s working well.

Long-term business success depends on engaged employees who feel valued and respected.

7 employee experience metrics to track

So: What metrics should you be keeping tabs on? Get started with the following seven core metrics and use that data to identify any residual gaps in your understanding, as well as make tactical adjustments on the fly throughout the year to address deficits or challenges.

1. Employee Net Promoter Score (eNPS)

While an NPS score indicates client or customer sentiment about your organisation, its eNPS score measures how likely your employees are to recommend your organisation as a great place to work. It’s calculated by asking employees to rate, on a scale of 0-10, how likely they are to recommend your company to a friend. The eNPS is simply the percentage of promoters (those who score 9-10) minus the percentage of detractors (those who score 0-6). A high eNPS indicates a positive employee experience!

2. Retention rates

Retention rates tell you how well you’re holding onto your talent over time. To calculate your organisation’s retention rate, divide the number of employees who stay for a specific period by the total number of employees at the beginning of that same period. A high retention rate suggests a healthy work environment, while a low rate might signal issues that need addressing.

Equation: (# employees at end of period / # employees at start of period) x 100

Discover what attrition rates are costing your organisation using our Cost of Losing Talent calculator.

3. Employee referrals

When your employees are excited about going to work, they’re more likely to refer friends and former colleagues to apply for roles. Tracking the number of referrals your HR team receives over time can give you insight into how employees feel about your organisation.

This metric is related to your organisation’s eNPS score, and while they should be compared in the data analysis phase, they are distinct metrics individually, as there are several factors that could impact only one of the two – availability and dynamic of open roles, management styles or even external factors like economics or job market conditions.

4. Employee absenteeism

This metric measures how often employees miss work. While this can be harder to track in today’s remote work environment, it is still very important and very relevant for a lot of industries.To calculate absenteeism, divide the total number of days absent by the total number of available workdays, then multiply by 100. High absenteeism can indicate dissatisfaction or burnout, so it’s essential to keep an eye on this one.

5. Employee productivity

Productivity isn’t just about hitting targets; it’s also about how engaged and motivated employees feel. You can measure productivity through performance metrics, project completion rates, or even self-assessments. A boost in productivity often correlates with a positive employee experience.

6. Employee satisfaction

This classic metric can be gauged through surveys or feedback forms. Ask employees how satisfied they are with various aspects of their job, from their role to the work environment. High satisfaction scores typically reflect a positive employee experience.

7. Employee wellbeing

With the evolution of wellbeing, we now know that reframing our focus to support wholebeing is essential in the workplace. With wholebeing, we aren’t just referring to exercise and meditation, but everything from psychological safety for mental and emotional wellbeing, to the dynamic of the social environment and to financial wellbeing. We can measure the impact of this through surveys that ask about stress levels, work-life balance and overall health, for example. Additionally, you could evaluate the usage metrics for EAP resources – or even productivity levels, as a demonstrable negative fluctuation could indicate a larger problem than one or two disengaged employees.

How to measure employee experience

1. Establish a clear EX strategy and measurement framework

Begin by defining what employee experience means for your organisation. This involves identifying the key touchpoints in the employee journey, from recruitment to onboarding, development and offboarding.

A well-structured measurement framework will help you determine which metrics are most relevant to your goals and how you will track them over time. This clarity will ensure that everyone in the organisation understands the importance of EX and is aligned in their efforts to improve it.

2. Leverage employee experience software

Investing in the right technology can streamline the feedback collection and analysis process. Look for software solutions that offer features like pulse surveys, analytics dashboards and reporting tools. An employee experience platform can help you collect data efficiently and provide insights that are easy to interpret. Using the right technology for your business can save time and resources while gaining a deeper understanding of your employees' experiences.

3. Use regular and transparent communication

Open communication is key to fostering trust and engagement among employees. Make it a priority to share the purpose behind measuring employee experience and how the data will be used to drive improvements. Regularly update your team on the findings and any actions taken as a result of their feedback. This transparency not only encourages participation in future surveys but also shows employees that their opinions are valued and taken seriously.

4. Gather regular employee feedback

Establish a routine for collecting feedback, whether through quarterly surveys, monthly check-ins, or informal feedback sessions. Regular feedback helps you stay attuned to employee sentiments and allows you to address any issues before they escalate. Additionally, consider using a mix of qualitative and quantitative methods to capture a comprehensive view of the employee experience. This ongoing dialogue will create a culture of continuous improvement and demonstrate your commitment to listening to your team.

5. Avoid survey fatigue

While gathering feedback is essential, bombarding employees with too many surveys can lead to disengagement and apathy. To avoid survey fatigue, be strategic about when and how often you ask for feedback. Focus on key moments in the employee journey, such as after onboarding or following major projects, to gather insights that are timely and relevant. Additionally, consider varying the format of feedback collection—mixing surveys with focus groups or one-on-one interviews can keep the process fresh and engaging for employees.

Improve your employee experience with Reward Gateway | Edenred

Reward Gateway | Edenred offers an upgrade from the common intranet with our employee experience platform, bringing all of your organisation’s benefits, programs, communications – and people – together into one place, reducing platform fatigue and increasing employee engagement. Post company news, important updates and more with our built-in, audience-segmentable blogs. Host peer-to-peer recognition moments on a social media–like feed where other employees can react and comment, or even tack on a reward. Employees can even redeem those rewards on the platform through our Reward Marketplace, where the power of choice makes every reward moment personalised for maximum impact. Plus, enjoy built-in analytics dashboards so you can see what’s getting used, what isn’t and what employees truly care about.

Schedule a demo to learn more about how Reward Gateway | Edenred can help you make your corner of the world a better place to work!