The future of work hinges on experience.
A new study reveals that companies are leaving a massive opportunity for revenue growth of up to 50% or more on the table.
“Employees are now the most important stakeholder to long-term success and expect the same level of ease and convenience in their experiences as customers do. Employee experience is table stakes for the future of work,and new data shows that a unified customer and employee experience is a winning growth strategy that can increase revenue by up to 50%.”
Employees not only want ease and agility, they also expect employers to be tuned in to the day-to-day happenings of the workplace in a way that elevates staff training and prioritizes wellbeing and work productivity. The future of work is going to require that we reimagine and redefine the nature of experience — for customers and employees.
Flexibility, empathy, and work satisfaction have become key. A business’ ability to meet these expectations will require open-mindedness, innovation, and ingenuity. Solutions such as a connected data strategy can help bridge the gap. However, as it stands, 73% of C-suite executives said they don’t know how to use their employee data to drive change.
In 2020, we teamed up with Forbes to better understand the impact of employee experience (EX) on customer experience (CX). This report goes one step further in quantifying the direct impact that focusing on employee experience can have on growth.
We surveyed over 4,100 executives and employees across 12 markets to identify the key elements of employee experience that drive customer experience and increase revenue. We then combined these findings with a first-of-its-kind retail study. Together, the results quantify the impact of EX on CX and growth. We hope you will find these insights actionable as you navigate the future of work to keep your employees and customer happy while growing revenue.