Everest Group forecasts enterprise adoption of employee experience management (EXM) platforms will surge 35-40% through 2025
Even with global economic headwinds, enterprises remain desperate to retain employees and recruit new talent. It is against this backdrop that the Everest Group predicts the Employee Experience Management (EXM) platforms market to experience a compound annual growth rate of 35-50% through 2025.
EXM buyers of all sizes cite the rise of new and alternative working models, keeping attrition rates under control, and understanding real-time employee sentiments as major triggers for adopting EXM platforms.
The Great Resignation, the demand for hybrid work environments, and the shortage of talent have disrupted the conventional way of work and the traditional workplace. For enterprises facing this challenge, the ability to monitor and improve employee experience along each step of the employee lifecycle has become more crucial than ever before. The adoption of EXM platforms can make this task easier.
Top five benefits of EXM
Everest Group research claims that buyers of EXM platforms benefit from the technology including:
- A better understanding of the workforce, especially the key challenges that each employee faces and an understanding of their sentiments
- Inclusion of employees in formulating the organisation’s people strategy. Particularly helpful is employee feedback gathered in pulse surveys on specific topics.
- Improved employee engagement and productivity. The ability to anonymise feedback makes employees feel heard and empowered, thus stimulating higher productivity and increased rate of participation in future surveys.
- Reduction in attrition, primarily by playing a role in elevating employee satisfaction, engagement and visibility.
- Faster decision-making. EXM platforms capture and process employee insights into real-time dashboards, giving leaders the right information at the right place and time.
