Wednesday 1st May 2019
The link between employee experience and customer experience
The theory behind linking Customer Experience (CX) and Employee Experience (EX) is simple – providing a positive experience for your employees will allow them to provide a positive experience for your customers.
“Happy employees lead to happy customers, which leads to more profits.”
— Vaughn Aust, EVP of Integrated Solutions, MarketStar
What is CX and why is it important?
At the turn of the millennium, focus for most businesses was on the product or service they provided. However, in recent times, it’s all about the experience they offer– customers will pay more money for a comparable product or service if the experience provided is preferred. Just think about your own choices, which of the latest smart phones do you own? Where do you buy your coffee? What car do you own? Why did you choose them? Many of things we purchase today actually have very little in the way of differentiation. Therefore, the customer journey that comes with it is key.
Today, the modern customer journey is longer than ever before, and potential customers set-off way before the point of purchase. It then continues with the service customers receive after purchasing, which can lead to brand loyalty and repurchasing.
Organisations must now be proactive in ensuring the customer journey is positive, right from the consumption of the first marketing content all the way through to welcoming returning customers back with open arms. There is a multitude of evidence to back this up. For example, companies that invest in CX are, on average, 4 times more profitable than those who don’t.
What is EX and why is it important?
Much the same as customer experience, 20 years ago employers focused solely on the tangible elements of the employment process. Monetary gain was pretty much the sole reward for an employee’s efforts, with the occasional target-driven bonus thrown in to increase motivation. Today, the modern employee expects at least something in the way of non-tangible reward, whether that’s flexible working, healthcare services or personal development plans.
But EX is not just about HR, it’s not about your company branding touting what a great place your company is to work, and it’s not just about how many employees are engage socially and support the brand. EX is not about perks and it’s not about ping pong tables, free lunches, or the availability of nap pods in every corner.
EX is how companies create, develop, and nurture a culture that’s employee-centric. What sets them (employees) up for success? How are we giving them control of their careers, helping them set and achieve goals, learn, grow, and thrive in the workplace? In a competitive job market, employees are shopping for the workplace culture and the employee experiences that are a fit for them. It’s a bit of a ‘what have you done for me lately’ ‘what can you do for me now, and in the future’ mindset, and that’s exactly why a culture that focuses on employee experience is so critical. Happy, satisfied, challenged, learning, growing employees stay around. They are happy in their jobs, and it shows. And that happiness translates to increased work performance—it’s inevitable.
Investment in employee engagement, and the EX is proving affective. According to The McKinsey Global Institute, productivity tends to improve by between 20 and 25% in organisations with engaged employees.
How are EX and CX linked?
Study after study has shown that investing in EX impacts the customer experience and, in turn, can generate a high ROI for the company. For example, companies with engaged employees benefit from 22% higher productivity, 38% higher customer satisfaction, and up to 19% higher profits. Engaging your employees early and keeping them engaged means they will become an advocate of the business; they will be motivated and passionate about what your business does and offer up a better experience for the customer because of it.
Treat your employees almost as if they are a customer of your business. Instead of exchanging money for a product or service, they are offering up their skills, knowledge and efforts in order to “buy in” to your business and to what you can offer them.
Therefore, just like the early stages of the customer journey, your business needs to be projecting itself in a positive light even before the start of the recruitment process, developing your company culture and a sense of community as well as offering extra perks and rewards.
“Take care of associates and they’ll take care of your customers.” -J.W.Marriott
How can Growth Partners help?
Here at Growth partners, EX is at the heart of everything we do. Through our services, we can help your business create a better EX, thereby producing a better CX and leading to business growth.
How? By reducing the burden on HR for a start, removing admin tasks, which allows them to focus what really matters to your employees. Furthermore, we can provide tools to help keep your employees happy, healthy and ready to do the best job they can.
If you are interested in how Growth Partners can help your business, why not speak to one of our experts. Or, request a demo today.