Tag: personalised experience

  • How Can Personalized Engagement Strategies Enhance Employee Contribution?

    This article has been contributed by Ms. Swati Soam Rathore, HR Head Springfit Mattress.

    The rise of innovation and the digital revolution have ushered in the era of personalization. Our specific expectations and tastes are considered in every proposal, from the e-commerce sites we shop to the web streaming services we use. Given these facts, it makes sense that personalization will eventually have an impact on employee engagement as well.

    The days of using a conventional approach to raise employee engagement are over. Every employee is unique, and they all have different needs and wants. This has long been the case, but modern technological breakthroughs make it possible to gather and analyze the necessary data that forms the basis for personalization. Companies must personalize the experience for each employee to ensure maximum productivity and great performance.

    Global Employee Engagement from 2019 to 2022 Q1
    Global Employee Engagement from 2019 to 2022 Q1

    In Q1 2022, global employee engagement was about 62%, a 6% decrease compared to 2021.

    To increase employee contribution, organizations must tailor their employee engagement tactics, and they should lead the way toward personalization. Employers who use personalized employee engagement techniques have a better chance of keeping and attracting top talent, maximizing ROI, and increasing employee engagement. It also creates a seamless environment that increases employee loyalty, makes staff members feel valued, and offers them a competitive advantage.

    Some instances of employee engagement
    It all begins with hiring
    Changing the nature of the workplace
    Adapting the learning curve
    Different management tiers and task allocation

    Some instances of employee engagement

    1. High-Quality Personalised Communication: Imagine the reaction of employees when HR sends an email to the entire firm that only affects a small portion of the workforce. Excluded employees are irritated because it wastes their time. And unlike a customer, they are unable to unsubscribe or choose not to receive the communications.

    The best communications are highly personalized and designed to improve employees’ lives, expand their knowledge, boost productivity, and give them the resources they need to make better decisions for themselves and their families.

    Additionally, although email may be the quickest and most efficient means for HR to communicate with staff it might not be the most helpful channel for employees. The choice of the employee can be an SMS, email, push notification, etc.

    2. Personalized benefits schemes: Employers must provide a range of financial, health, and well-being benefits to meet the needs of a workforce.

    Consider employees’ demographics, socioeconomic status, environmental variables, and life events to consider the benefits that you want to offer to your employee.

    Organizations must personalize employee engagement strategies forefront of employee engagement. The following are a few considerations to keep in mind as your organization moves toward personalizing employee engagement:

    It all begins with hiring

    Most companies believe that employee engagement starts after onboarding. It starts when a potential employee reads about an opening and submits an application for it, though. Organizations must take the time and make the effort to identify the abilities required for each function. Adding a few qualities to the function to make it more engaging is the finest personalization tactic for raising employee engagement.

    Changing the nature of the workplace

    Today’s information and creative professionals are no longer inspired or motivated to reach their full potential by shared desks, a 9–5 schedule, or office employment. Organizations must redefine how their teams function to increase employee engagement. Starting points include giving employees the option of working from home and scheduling flexible hours when their creative energy is at its highest. Organizations should also consider employee feedback and opinions when choosing office furnishings, cubicle designs, meeting room styles, etc. Employees will be able to design a workspace that appeals to them, draws them in, and gives them a boost.

    Adapting the learning curve

    The success of learning and training sessions has a significant impact on how effectively employees are engaged. It wouldn’t be wise to believe that all of your employees are at the same starting place for every training session given the variety of knowledge sources available nowadays. They might also have entirely different views about what they want to learn and how they want to learn it at the same time. Organizations must therefore tailor the entire learning experience to ensure the sustainability of employees. This includes the training that is being provided, which needs to align with the employees’ individual needs and gaps in knowledge.

    Different management tiers and task allocation

    Redefining the organizational structure and the type of work that people do is just as important as personalizing how they work and what they learn. First, different levels of management are required for personalization. While some workers prefer frequent micromanagement and active reporting from their superiors because it makes them feel more engaged at work, others loathe it and want more independence and autonomy. Every employee’s pulse must be monitored by organizations, and they must be managed accordingly. Second, task distribution also calls for personalization. To divide labor effectively, firms must have a thorough understanding of each employee’s skills and interests. This will not only keep the worker more engaged and motivated, but it will also enhance productivity.

    Conclusion

    Personalization is key to maximizing employee engagement for enhancing contribution. Personalized employee engagement strategies inbuilt the feeling that the company is “listening to employees” and considering their requests as distinct individuals and not just “work machines.” To make employees feel valued and empowered and to get a competitive edge from a highly engaged workforce, personalization is best for employee engagement. Although your employee is a human and wants to get attention and offering something that is personalized to his or her need is the best that an employer can offer to them and it can develop a fruitful relationship.

    FAQs

    What is a personalization strategy?

    Personalization strategy is an approach used by employers to personalize the experience for each employee to ensure maximum productivity and great performance. It helps to increase employee contribution, has a better chance of keeping and attracting top talent, maximizes ROI, increases employee loyalty, and so on.

    How does personalization increase engagement?

    Personalization helps to address the different needs and wants of the employees. It improves employees’ lives, expands their knowledge, boosts productivity, and gives them the resources they need to make better decisions for themselves and their families. It creates a seamless environment that increases employee loyalty, makes staff members feel valued, and offers them a competitive advantage. Hence, these increase employee engagement.

    What are the advantages of personalized employee engagement?

    Some of the advantages of personalized employee engagement are:

    • Increases the chance of keeping and attracting top talents
    • Maximizes ROI
    • Increases employee engagement
    • Increases employee loyalty
    • Makes staff members feel valued
    • Offers employees a competitive advantage

    What are the considerations for an organization to move towards personalizing employee engagement?

    The following are a few considerations to keep in mind as your organization moves toward personalizing employee engagement:

    • Start employee engagement with hiring
    • Change the nature of the workplace
    • Adapt the learning curve to ensure the employees’ sustainability
    • Adopt different management tiers and task allocation
  • What is the Future of Ecommerce?

    Ecommerce has flourished rapidly in recent years. The pandemic further enhanced it as people had to shop online during lockdown periods.

    Along with the latest technologies and refinements in the industry, Ecommerce itself has experienced crucial modifications. And this is, to be honest, just the beginning.

    A recent survey found that 76% of online buyers purchased on websites outside their home nations. It indicates more Ecommerce companies will develop on a global scale.

    By the year 2026, revenue in the Ecommerce market is predicted to reach $6.43 trillion in revenue. But the rapidly growing Ecommerce market is developing just as quickly as it’s extending. And because of rapid invention and creation in this space, the future’s Ecommerce landscape could look extensively different from the existing one.

    We cannot predict the future accurately, but there are some indicative signs of what can follow. Some trends for the forthcoming years are already part of our daily lives, but they will evolve and become stronger. Others are nearly on the brink of becoming a reality, and some will likely need time to settle down, but it is better to stay prepared. Some of  the trends are:

    1. Projection of Revenue

    Nothing is more effective than starting with data and statistics to discuss the future of Ecommerce.

    The expected global Ecommerce market revenue will be $3.61 trillion in 2022. According to projections, this amount will increase by 12.25% over the following years, reaching about $6.43 trillion by 2027.

    Also, the predicted global retail Ecommerce market revenue will be $5.7 trillion in 2022. This amount will increase by 56% over the next years, attaining about $8.1 trillion by 2026.

    2. Drones for Delivery

    Amazon’s drone delivery

    Without a doubt, delivery drones will play an important role in Ecommerce in the future. And it appears to be approaching fast.

    Drone deliveries are in testing in many industries, including the food industry. Delivery drones are capable of shipping on various scales without the involvement of humans.

    3. Multichannel experience

    Nike multichannel demonstration
    Nike multichannel demonstration

    Offering a multichannel experience (also known as omnichannel) for the customer is crucial and is a growing trend. This will be standard procedure in the future of Ecommerce.

    Although statistics indicate that more people are using online services, physical retail will still be around because it is convenient and not just an option. The client responds in what initially appears to be the simple and most logical way.

    4. Diverse payment options

    Myntra providing diverse payment options
    Myntra providing diverse payment options

    In the line with talking about trends in Ecommerce, another strong trend in Ecommerce is to give different payment choices to the customer, especially speedy payments, making the checkout process more comfortable and more agile. As the pandemic taught us, it is important to set up accepting payments online. Online payments provide customers with the flexibility to pay from anywhere and at any time.

    5. Rising mobile commerce

    Mcommerce sales has doubled in 2022 since 2019 and projected to reach $710 Bn in 2025
    Mcommerce sales have doubled in 2022 since 2019 and are projected to reach $710 Bn in 2025

    Mobile commerce, which already accounts for more than 70% of online retail, will undoubtedly continue to grow in the years to come.

    In the United States, expected mobile retail commerce sales are $430 billion in 2022. By 2025, it is to account for 10% or more of all retail sales in the US.

    6. Personalized experience

    Amazon using browsing history for personalised experience
    Amazon using browsing history for personalised experience

    Customization of the experience will be essential in many ways for Ecommerce in the future as customers value personalized and customized services more and more.

    Online retailers have a recommendation system that suggests comparable and closely related products for each customer to purchase in the intelligent shop windows.

    7. Visible stimulus

    We are currently in a highly visual phase, and as technology develops, the influence of visual and visible stimuli on decision-making during purchases will increase.

    The benefit is the ability to inspect a product from various angles using a VR headset, whether inside or outside. It is unquestionably much more impressive and realistic-looking than viewing 2D images virtually.

    8. Automated service

    Automatic attendance systems, like chatbots, are already widely used but will become even more common in Ecommerce. The machines can learn what the customer needs. They can interact with the customer quickly and assertively by implementing specific keywords and even using artificial intelligence.

    Automation contributes to business growth by saving time, increasing sales, and making marketing effective.

    9. Social responsibility and Sustainability

    Adidas' participation in Sustainability
    Adidas’ participation in Sustainability

    Customers are becoming more concerned with and appreciative of businesses that value sustainable consumption and uphold social responsibility.

    Hence numerous large corporations are working to reduce the use of harmful materials like plastic and the use of natural resources with awareness. Additionally, they make investments in environmentally friendly practices like planting trees.

    Another emerging trend is support for social causes, such as giving to NGOs. Companies connect to social projects, and customers can opt for an action for which a part of the payment goes to a donation. Many businesses have already used the service and obtained a higher retention and conversion rate, proving that the customers approve of this type of conduct.

    Voice technology is developing very quickly. They are already a part of daily commerce’s operations and are likely to be present in the next generation of online shopping.

    The fastest-growing sales channel in the US is voice commerce, also known as voice shopping. Voice assistants like Google Assistant, Siri, and Alexa are in use for shopping. This trend will quickly roll out to other nations.

    Customers frequently enter search engines like Google and Yahoo and conduct voice searches for goods abroad and here.

    Forecasts indicate that by 2024, there will be more digital voice assistants than people on the planet (8.4 billion units).

    Conclusion

    Long-term technological and infrastructure developments suggest that Ecommerce will continue to grow more vibrant and scalable. It’s critical to stay up to date and be prepared to deal with the challenges caused by changes in Ecommerce. However, by following the trends described here, somebody surely will be on the right track to success.

    FAQs

    Is Ecommerce growing as we expected it to?

    Yes, the Ecommerce market is rapidly growing and is developing just as quickly as it’s extending. By the year 2026, revenue in the Ecommerce market is predicted to reach $6.43 trillion in revenue.

    Some of the trends of Ecommerce are:

    • Projection of  Revenue  
    • Drones for Delivery  
    • Multichannel experience
    • Diverse payment options
    • Rising mobile commerce
    • Personalized experience
    • Visible stimulus
    • Automated service
    • Social responsibility and Sustainability
    • Voice commerce and audio search

    Which Ecommerce type is the most successful?

    The B2C  is the most successful Ecommerce type. You can sell your products directly to diverse customers and make a good profit.