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EMPLOYEE EXPERIENCE MIGHT GET SHORT SHRIFT IN 2024. MAKING IT A PRIORITY COULD SET YOUR BUSINESS APART.

- DAMIEN MARTIN

WITH RESEARCH FIRM FORRESTER PREDICTING AN EMPLOYEE EXPERIENCE RECESSION IN 2024, IT'S IMPORTANT FOR LEADERS TO NOT LET THAT HAPPEN IN THEIR ORGANIZATIONS.

Leaders have a lot to be mindful of. The big decisions – and their consequences – rest on their shoulders. That affects the organization’s financial performance, market share, growth, and a host of other metrics of success. They also have a lot of data at their fingertips that they use to make these big decisions. It can be immensely helpful, providing insights into what the business does and does not do well with a great deal of accuracy. What leaders must never forget among all that data is that the decisions they make affect real people, and real people will be instrumental in the success or failure of those initiatives. With research firm Forrester predicting an employee experience recession in 2024, it’s important for leaders to not let that happen in their organizations. It also opens an opportunity to stand out from other employers and lay the foundations of a bright future.

BUCK THE TREND

Forrester’s analysts forecast a big drop in the percentage of companies making a strong commitment to DEI programs, with only 1 in 5 maintaining an endorsed companywide strategy and DEI personnel, down from 1 in 3 in 2022. Commitments grew substantially in the wake of the social movements of 2020, but budget cuts have decimated DEI teams since.

“As a result, too many companies will default to ‘check the box’ efforts such as heritage days, leading to performative — rather than substantive — DEI programs,” Forrester VP and principal analyst J.P. Gownder wrote.