Focusing on employee experience leads to revenue growth
Research shows the relationship between employee experience (EX) and customer experience (CX) and its impact on accelerated growth. But can we quantify the direct impact an increased focus on employee experience has on growth? To answer this question, Salesforce surveyed over 4,100 C-level executives and employees across 12 markets to identify the key elements of EX that drive CX and increase revenue.
The Experience Advantage
The Experience Advantage is the summary report of the survey findings. Here are the key takeaways of the Experience Advantage:
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 experiences. And customer experience is winning. Approximately nine in 10 C-suite members (88%) say employees are encouraged to focus on customers' needs above all else, even though the C-suite knows that a powerful customer experience starts with an employee-first approach.
3. Five core elements of employee experience impact customer experience and growth: Trust, C-Suit Accountability, Alignment, Recognition, and Seamless Technology.
4. There is a disconnect between C-suite perception and employee experience.
- 71% of C-suite leaders report their employees are engaged with their work, when in reality only 51% of employees say they are.
- 70% of leaders report their employees are happy, while only 44% of employees report they are.
5. The disconnect is undermining EX, CX, and ultimately growth.
- 74% of C-suite executives say that no one at their company truly owns the employee experience.
- Only one in three companies excel at creating a seamless EX-CX experience.
6. Outdated technology and siloed data strategies deepen misalignment between employees and the C-suite.
- 52% of C-suite members believe their corporate technology is working effectively, compared to just 32% of employees.
- The majority of C-suite leaders (73%) say they do not know how to use their company's employee data to drive change.
7. The employee-exec disconnect is driving employee exodus and reducing profitability. Amid the "Great Resignation," talent retention in the U.S. is at an all-time low. Low employee retention and lack of career development opportunities are the top barriers to revenue growth.