Whenever employee engagement is talked about, it’s put in terms of a responsibility businesses have to fulfil. Taking care of your employees is, after all, a good thing. But what if we told you there was a strong business case for improving your employee experience journey?
It’s true: businesses that take care of employee engagement end up being better at doing business. But you don’t have to take our word for it. Now, there’s enough data to back this up.
Salesforce, in collaboration with Forbes Insights, recently conducted a survey involving 300 executives across employee experience and customer experience. They found that companies that focused on the employee experience in order to improve customer experience were able to achieve 1.8 times faster revenue growth.
If that’s not convincing enough, consider this: the same survey also found that focusing only on customer experience did not correlate with higher revenue growth.
Simply put, taking care of your employee experience journey is not just a responsibility. It is one of the most efficient ways of growing revenue. The happiness of both your customers and your employees depends on it.
But why does employee satisfaction matter so much? And what can you do to improve employee experience? SurveySparrow has you covered.
Why Do Improved Employee Experience Journeys Make Customers Happier And Grow Revenue Faster?
The fact that employee engagement is so directly related to revenue growth may be surprising to some. But it shouldn’t be.
We have known for a long time that improving employee experience is one of the best ways to improve customer experiences. And of course, happier customers lead to more revenue.
Let’s get a little deeper into this, though. Here are a few reasons why employee experience helps revenue growth.
Happier Employees Make Happier Customers
There are many reasons why employees are considered the backbone of any organization. One of them is that they are the ones who interact with your customers. In the end, your customer experience will come down to your employee experience journey.
When employees are satisfied and engaged, they will be able to put in more effort into keeping customers happy. They will take that extra step to make sure your customers value your business.
Happy employees also leave customers feeling good about their choices. Nobody likes to shop at a store where employees look sad and dreadful. Better employee experience journeys lead to a better overall company spirit.
Engaged Employees Are More Productive
Productivity is the key to attaining faster revenue growth. This is common knowledge. But companies often go down the route of putting pressure on employees to achieve goals instead of caring for their well-being.
Recent studies suggest that this strategy is misguided. When employees are happier, they work better and for longer hours. Research shows that happier employees, on average, take 15 fewer sick days per year than their less engaged counterparts.
When your employees are more productive, they help the company reach its goals faster. It is no surprise, then, that employee satisfaction leads to 1.8x faster revenue growth.
Less Employee Turnover, More Revenue
There are few things as damaging to a business than high employee turnover. According to a Gallup report, each time an employee leaves, replacing them costs the business over twice their annual salary.
These costs may not seem very apparent, but they add up. Looking for new employees, training them and fitting them into your workflow can suck a lot of company resources. On top of that, you lose a skilled worker who you may have spent years training.
When companies pay attention to employee experience journeys, they reduce employee turnover. Happy employees stay loyal to your company, and you can hence avoid the cost of having to constantly find replacements.
Here’s an employee experience survey created using SurveySparrow to help boost employee productivity and to keep employee pulse in check.
You can create a FREE account on SurveySparrow. to create similar employee engagement surveys.
Attract Top Talent By Keeping Employees Happy
When skilled employees are in high demand, a lot of factors decide which company they choose to work for. One of the most important factors, of course, is the employee experience journey.
It is a myth that employee experience stays inside the company. In fact, it travels outside very frequently. Employees who hate their jobs never stop talking about it, and would never recommend your organization to anyone.
On the other hand, employees who love their jobs also love boasting about it. Talented people may be attracted by your company’s reputation for employee satisfaction.
If you care about revenue growth, you know that talent plays a huge role. Talented employees are able to impress clients and customers and keep them satisfied. Thus, improving employee experience also helps you increase your revenue by attracting top talent.
How To Improve Your Employee Experience Journey
We have seen that there are strong reasons to focus on employee engagement. From attracting better talent to keeping customers happy, it all comes down to employee satisfaction.
How do we keep employees engaged and satisfied? There’s no magic formula, but several practices have proven to improve employee experience. Companies can now also make use of great employee experience software to navigate employee journeys.
Here are a few ways you can boost your employee satisfaction.
Improve Internal Communications
Your company’s internal communications are the key to both teamwork and employee happiness. Are your employees and managers able to communicate effectively with each other? If there’s room for improvement, that’s where you should start.
Internal communications is how an organization corrects its course when it goes wrong. It’s how managers tell employees they’re doing something wrong. It’s how employees bring up problems they’re facing with their managers.
This is a critical part of employee well-being. One of the most important things that an organization offers is a sense of community and belonging. It’s important for employees to feel like they’re part of a team.
Good internal communications make employees feel heard. They are also able to take feedback and act on it effectively. Internal communication is critical for employee satisfaction.
If you feel like your organization could use some improvement in this area, the first step would be to conduct an internal communications survey. You can use an online survey tool like SurveySparrow. A survey will help you diagnose the problems in your internal communications, and give you a roadmap to fixing them.
Make Employee Wellness A Priority
It is fairly obvious that to improve your employee experience journey, you need to prioritize employee wellness. This might require a broader approach, though, than companies have traditionally taken.
Companies have, in the past, focused mostly on physical wellness with health insurance benefits and sick leaves. But it’s time for companies to adopt a broader definition of wellness. An employee’s emotional wellness is equally important.
Prioritizing emotional wellness means offering employees the support needed to seek psychological help. It also means focusing on team-building activities and healthy work practices. But that’s not all.
One of the most important things companies can do for employee wellness is to make work environments less stressful. This might mean, on some occasions, not pressuring employees to work more or faster. In the long run, though, it will pay off.
Employee satisfaction is not just about meditating together, although that can be effective. It’s about communicating to your employees that their wellness is your priority. Any company that follows this spirit will immediately improve their employee experience journey.
Don’t Neglect The Employee Onboarding Experience
First impressions last. This is not just true of dating or interviews, but also of employee experience. When employees first join an organization, it is critical to make them feel comfortable.
According to Harvard Business Review, 33 percent of new hires look for a new job within 6 months of joining their job. That’s a seriously worrying statistic. When employees join an organization, they should be made to feel like they belong, not like they want to leave.
The key to making new employees feel comfortable is to have a great onboarding experience. A great onboarding experience sets the tone that the company cares about its employees.
Onboarding experiences should be designed based on the role of the employee. A sales representative, for example, will need a different introduction than a customer support representative.
The objective of the onboarding experience is to instill the work culture in the employee and make them feel comfortable. A good onboarding experience is important for good employee experience journeys and hence leads to increased revenues.
Conduct Regular Employee Surveys
One of the most important reasons employees feel disengaged is that they don’t feel heard. It can be easy to feel isolated and like nobody cares about your thoughts. Companies need to make sure to keep such feelings at bay.
The most effective way to listen to employees is to make employee surveys a routine part of your company culture. With online survey tools like SurveySparrow, it is a breeze to create beautiful, effective employee surveys using templates.
A few surveys are particularly important to conduct for employee experience journeys. An employee engagement survey, in particular, can be very effective.
Conducting employee engagement surveys can help you diagnose important problems in your employee experience. Exit surveys can also be useful in finding out what didn’t work for employees who are leaving.
Employee surveys allow employees to contribute their opinion, and let you know what’s working and what’s not. Companies that make employees feel heard can never go wrong. Employees will be happier and more satisfied at work if they feel cared for.
Take Employee Feedback Seriously
Conducting employee surveys is the first step to better employee experience journeys. But if you stop there, you will only see a limited impact. Making employees feel heard is also about acting on what they’re saying.
As an organization, it is important to act when an employee expresses a serious concern. Appearances can only go so far. With SurveySparrow’s easy-to-navigate survey analysis tools, understanding survey results becomes a breeze.
Properly analyzing the results of employee surveys can help you diagnose the key problem areas in your employee experience. You can then go about working on those problems to improve your employee experience journey.
Encourage A Culture of Appreciation
One of the most important factors for a good employee experience is employee morale. Nobody likes to have a manager who only points out flaws and makes an employee feel worthless.
Our sense of self-worth is, for better or for worse, very closely related to the quality of our work. That is why it’s important to enable a culture of appreciation at your organization.
When employees are routinely appreciated for their work, it boosts their morale. They are more likely to be engaged and do good work to earn that appreciation again.
A culture of appreciation and acknowledgment creates a positive work atmosphere and leads to a boost in employee well being. It also costs nothing literally.
Appreciating employees is the quickest and most effective way to make employees happier. If you care about your employee experience journey, you should encourage managers to make it a priority to actively appreciate employees.
Conduct Stay Interviews
Like we said before, employee retention is key to the smooth functioning of your organization as well as revenue growth. Stay interviews can boost retention by fixing problems beforehand.
One way to make employees feel heard is to conduct a survey. But a face to face interview can have its own benefits.
A stay interview is where you proactively ask your employees what they need to stay at your organization. It is a space for employees to discuss their future at the company, and the problems that make them want to leave.
When managers take the time to conduct stay interviews, it makes employees feel cared for. Communicate to your employees that you care about them, and want them to stay at your company. That itself will enhance your employee experience journey by leaps and bounds.
Wrapping it up..
The results are in: employee experience management is key to growing your revenues. We’ve outlined plenty of reasons why this is the case, and given you tips to improve employee engagement effectively.
Businesses can never go wrong with investing in employee experience. Thankfully, employee experience software like SurveySparrow gives you a stress-free route to improving employee engagement levels.
Employee surveys are key to finding out what works for an employee and what doesn’t. With beautiful, effective employee surveys, SurveySparrow makes it easy for you to collect and analyze employee responses.
Don’t forget: employee surveys are the start, not the end. Once you have that data, analyze it to find the key issues employees face. Once you find them, make sure to take action and resolve them.
Employee experience journeys matter. They improve customer experience and increase your revenues. Take some simple steps to improve employee satisfaction, and you’ll end up with happier employees and a thriving business.