Companies looking to grow turnover and build a positive brand reputation are those prioritising their employee happiness and engagement, according to research released this week.
With customer expectations across all industries sitting at their highest ever levels, customer experience (CX) has never been as important. And sitting at the heart of that experience is the strong foundation of employee experience.
The report EX=CX2, created by Marketing Week in partnership with Zone and Cognizant, demonstrates why it is that brands outperforming in their market are more likely to be focusing on EX compared to their competitors.
It shows that customer experience and employee experience are inextricably linked, and demonstrates why the businesses that make the connection are more likely to realise benefits – everything from staff retention and customer retention, to enhanced productivity and bottom-line growth.
Still not convinced?
Here are seven stats that make the case for an EX-culture:
The increase in sales reported by companies with highly engaged workers.
The State of the American Workplace report (Gallup) highlights that staff who feel engaged are more likely to improve customer relations, in turn driving an increase in sales.
The impact of excellent customer experience on engaged employees
A 2016 study found companies that excel at customer experience have “1.5 times as many engaged employees as do customer experience laggards.”
The increase in engaged employees with leaders that champion CX
Employees working for companies with good reputations and customer relations are more committed to their jobs according to Temkin Group’s 2017 Employee Engagement Benchmark Study.
Customer loyalty rates in companies that actively engage employees
In their report Employee Engagement: Paving the Way to Happy Customers, Aberdeen Group outlined businesses that invested in structured employee engagement programmes had a 26% greater y-o-y increase in company revenue compared to those who didn’t.
The productivity difference in an engaged workforce
“The driving force seems to be that happier workers use the time they have more effectively, increasing the pace at which they can work without sacrificing quality,” according to Dr. Daniel Sgroi at the University of Warwick.
Competing on customer experience
The revenue growth driven by a healthy culture
Free fruit is great, but it’s not enough. A good employee experience communicates, develops and celebrates the success of its employees, instilling confidence and autonomy in its workforce to carry out their jobs effectively.
From delivering clarity of purpose and vision for everyone; policies that empower; measures and incentives that drive the right behaviours; and aligning employee development with customer experience goals. It’s clear EX plays a key role in everything from driving inward innovation through, supporting digital transformation and improving brand performance.
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