Macroeconomic uncertainties and the impending recession are compelling enterprises to take defensive measures such as shutting down businesses and laying off employees.
From a workforce perspective, during a recession, enterprises must take measures to improve efficiencies, communicate effectively, and cut costs. However, research indicates that Employee Experience (EX) plays a vital role, particularly during economic slowdown and uncertainty. Enterprises must prioritize long-term, employee-centric, and forward-thinking priorities: guard (generate value), evolve (innovate processes), and thrive (engage employees). EX solutions can help organizations realize these business goals and emerge stronger on the other side of the recession.
In this report, Everest Group examines the current economic downturn, its impact on employee expectations and experiences, and enterprise priorities in tackling these uncertainties and expectations. We then discuss nine EX solutions that can help enterprises achieve their objectives in this volatile environment. Finally, we provide a roadmap for enterprises to select and implement the most suitable EX solution(s) to achieve their goals.