Employee experience has evolved into a driver of business growth and the glue that holds companies together – allowing them to thrive and survive. A new report from Blueboard, Employee Rewards and the Employee Experience, finds that companies that invest in employee experience (EX) cultivate stronger employee/employer relationships and see significantly higher engagement. 

For example, companies that prioritize EX outperform so-called laggards across key employee experience indicators by more than 20%. The four areas cited in the study are: 

• my employment status is stable; 
• my relationship with my employer is reciprocal, not transactional; 
• my work is fulfilling; 
• and I am optimistic about my career prospects

The ways in which organizations can support employee experience and boost these indicators vary greatly; however, strategic employee rewards and recognition presents a key approach for employers looking to positively impact the employee experience.

"For leaders looking to motivate high performance and boost employee morale, experiential rewards present a major opportunity. The research shows they have 3.8x more impact on the employee experience than any other type of reward, including cash and gift cards," says Kevin Yip, co-founder and president at Blueboard.