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.
The way we work, do business, and transact has been completely turned on its head.
Customers have come to expect friction-free, seamless, personalized experiences, with 85% stating that the experience a company provides is just as important as its products and services. However, the past few years have amplified the importance of the employee experience as well — so much so that the employee is quickly becoming “stakeholder #1.”
What do 4,100 executives and employees have to say about employee and customer experience?
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“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%.”
Chief Growth Evangelist, Salesforce
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.
1) Companies are leaving money on the table.
Breaking silos between employee experience and customer experience can lead to a massive opportunity for revenue growth of up to 50% or more.
2) Companies think they have to choose between prioritizing employee or customer experience.
Nine in 10 C-suite members (88%) say employees are encouraged to focus on customers’ needs above all else — even though data has shown that a powerful customer experience starts with an employee-first approach.
3) The disconnect between C-suite perception and employee experience is undermining growth.
71% of C-suite executives report their employees are engaged with their work, when in reality only 51% say they are.
70% of C-suite executives report their employees are happy versus 44% of employees who agree.
“A quality employee experience is table stakes. Interconnected, seamless, and meaningful experiences that unlock employee energy and agency are essential for transformative customer experiences that win hearts, minds and wallets to drive growth.”
Chief Strategy Officer, Salesforce Innovation
More Resources
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State of the Connected Consumer
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Forbes Insight Research — The Experience Equation
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