The customer experience dictates organizational success. It is the driving force behind where individuals shop, eat, and spend. More importantly, experience creates loyalty between customers and companies. Executives know this and they believe in this. But what role does experience play in organizational success? How is the experience impacting employees and how can we get executives to recognize this impact? Similar to the consumer world, the power has shifted from the organization to the individual. Employees have greater demands, greater expectations, and a greater influence over their employers. This shift is not only an indication of a maturing economy, but also a shift in what drives value in these relationships.
According to research by ARP, 83% of companies plan to continue to improve the experience of candidates, employees, and managers. But the reality is that most companies are not clear about where to start and most executives are not clear about the impact this experience brings to the company. Lighthouse Research authored an eBook that helps companies articulate the value of the employee experience to senior leadership. It offers insight into how companies can think about the impact of the employee experience on business metrics including customer success, revenue and productivity.
One interesting recommendation included in the eBook that often gets overlooked is the impact employee experience has on innovation. According to research by Gallup, 61% of engaged workers feed off of the creativity of their peers compared to just 9% of their peers. By creating an environment where employees are encouraged to be creative and present innovative ideas and projects to their managers, companies will not only engage those employees but improve retention and performance.
Experience has a powerful influence over the consumer world and now needs to be part of our workforce. In order for this to happen, companies must shift their view to empowering the individual.