In our sixth session, “Designing the Employee Experience of the Future,” TIAA's Chief Associate Experience & Employee Relations Officer Andy Habenicht and Chief Talent Management Officer Josh Greenwald discussed their journey to becoming an employee-centric organization, including:
- The importance of focusing on employee experience
- Changing expectations in today’s environment
- Considerations to inform planning
Please visit our website for more information: http://unitedmindsglobal.com.
3. 3
Employee experience defined
Changing expectations in today’s environment
Case study: TIAA’s journey
Considerations to inform your planning
What we’ll
cover
4. Employee
experience defined
4
Employee experience (EX) is an emerging
business discipline focused on positively
influencing how employees think and feel
during every touchpoint of their journey
with an employer.
• Emerged as a direct outgrowth of and is a
corollary to Customer Experience (CX)
• Requires organizations to work outside the
scope of the typical HR function
• Delivers a proven impact on performance
Utility
What do employees
need to work?
Productivity What do employees need to
work better and faster?
Engagement
How can we make employees happy
so they perform better?
Experience What does the work experience
need to look like so people want to
show up vs. have to show up?
Source: Jacob Morgan
5. 5
Physical Technological
Social Operational
Cultural
The employee
experience has
arguably changed
more in the last 10
weeks than it has
in the last 10 years
Changes in the business landscape
and companies’ response strategies
have impacted every aspect of the
employee experience
FIVE DIMENSIONS
OF THE EMPLOYEE
EXPERIENCE
6. 6
Many companies
have risen to the
challenge and are
preparing to play
the long game
Solving for employees’ short-term
needs while rethinking their longer
term employee value proposition
RESPOND
- Temporary closures
- Modified schedules
- Home office stipends
- Paid sick leave
- Mental health programming
- Voluntary separation programs
RESET
- Doubling down on employee
listening
- Engaging medical and facilities
consultants
- Experimenting with work schedules
and locations
- “Re-onboarding” employees
REINVENT
- Understanding changing
expectations
- Addressing needs and pain points in
the associate experience
- Strengthening culture to accelerate
new business strategies
- Building a responsive and
differentiated employer brand
7. In a period where traditional rules no longer apply and
norms are being negotiated daily, now is the time to define
what the new world looks like and employees’ role within it.
Those who do will come
back stronger than ever.
8. 8
The six tension points every employer will
have to navigate in the next six months
On-site
Expansive
Leadership-driven
Digital-centric
Short-term actions
Investing in self
Remote
Limited
Employee-driven
Human-centric
Long-term reform
Investing in others
1. WORKPLACE
2. ROLE OF THE EMPLOYER
3. SOURCES OF INFLUENCE
4. ORIENTATION
5. DIVERSITY & INCLUSION
6. RESOURCE ALLOCATION
9. Times of crisis require employers
to be culturally vigilant
9
It’s not whether COVID, the fight for racial justice and other macro forces will
influence company culture but how. Organizations can’t just let culture happen but
must continually define, design and nurture it.
.
CODIFYING POSITIVE
CULTURAL SHIFTS
UN-LEARNING
CONCERNING
CULTURAL SHIFTS
• More transparent
• More agile
• More humble
• More empathetic
• More judgmental
• More competitive
• Less work/life balance
• Challenges to collaboration
and inclusivity
MONITORING
FOR THE 6 KEY
CULTURAL RISK
FACTORS
11. 11
About TIAA
• Founded by Andrew Carnegie in 1918 to help teachers retire
with dignity
• Today, many in the not-for-profit industry rely on TIAA for a
wide range of financial products and services
• Approximately 17,000 employees globally
• Guided by our values to put the customer first, value our
people, act with integrity, deliver excellence, take personal
accountability and operate as one team
• Current employee value proposition is “Be a Difference
Maker” with a focus on the company’s mission and spirit of
serving those that serve
12. TIAA’s journey to become
more employee-centric
ACTIVITY:
PRIDE IN WORKING AT TIAA:
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Jan 2020: TIAA reintroduces its mission and
new strategy
Mar 2020: TIAA asks workforce majority to
work from home, creates intensive COVID
associate response, launches Virtual Workplace
Experience & Listening Strategy
Apr 2020: TIAA COVID Survey
Jun 2020: TIAA Pulse Survey on
Engagement, Productivity & Wellbeing
Fall 2020: TIAA rolling launch of
reinvigorated employee value
proposition
2019: TIAA scales back
TWS, introduces “Dress
for my Day”, and
Responsible Time Off
Listening Sessions,
Culture Steering
Committee, and
Employee Experience
Function Established
People Deal
strategy
conceived
2018: Centennial –
EVP was
introduced
2017: TIAA
acquires
EverBank
2007: TIAA
introduces remote
working policy
2010: TIAA
establishes 10 year
strategic plan
2014: TIAA
acquires Nuveen 2016: TIAA
re-brands
2014: TIAA establishes
its 6 Core Values
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Power of Mission, Purpose, and Strategy to People Engagement
Vital to talk about experience and culture attributes to answer the “why” from associates
Employee-centricity and listening has no substitute
Using our Values to guide our decisions
Leadership and care through crisis can build rapid trust and credibility equity with
people—but how do you sustain?
What we’ve
learned
14. 14
Where we’re Using the voice of the employee to define and deliver our
experience and culture “people pledge”
Maximizing our virtual experience and effectiveness with
our core Value (“Value our People”)
Articulating the behaviors we ask of our people to capitalize
on news ways of working in a dynamic environment
focused
Thoughtfully defining and implement a dynamic work
model and ensuring our experience supports it
Critically evaluating our “office culture”—what will it mean,
how will it change
Doubling down on adoption of stronger change
management practices and “Agile” work methodology
15. Client
retention &
attraction
ASSOCIATE-TO-
CLIENT VALUE
CYCLE
Growth Associate
experience
Associate
engagement
Client
satisfaction
Client
experience
• Higher performance
• Discretionary effort
• Productivity
• Sense of belonging
• Pride in TIAA
PEOPLE
OUTCOMES
BUSINESS
OUTCOMES
15
We’re not in it to
win awards but to
win with our people
We believe in branding from the
inside out, with an employee-centric
mindset to drive higher
engagement, which leads to better
client experiences, greater client
satisfaction and stronger retention.
This all contributes to deeper
relationships, financial returns, and
overall growth, with continued
experience investment.
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What should be on your people
agenda for the next 6-12 months?
Post-pandemic
retrospective
New business strategy
rollout
People policy
review
Values and behaviors
refresh/cultural
vigilance
Leader and manager
skill-building
“Re-onboarding” for the
future of work
Employer value
proposition redefinition
19. + Evolving employee experience is not optional
+ Employers will have to negotiate with their
people around key tension points
+ The current environment can be an accelerator
of change – now is the time to reinvent
+ Define what employee-centricity means to you
+ This work cannot be done effectively without
your people alongside you
Key
takeaways
19