The Experience Advantage
The Experience Advantage is the summary report of the survey findings. Here are the key takeaways of the Experience Advantage:
- 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.
- 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.
- Five core elements of employee experience impact customer experience and growth: Trust, C-Suit Accountability, Alignment, Recognition, and Seamless Technology.
- 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.
- 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.
- Outdated technology and siloed data strategies deepen misalignment between employees and the C-suite.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.
- 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.
