The prime focus of every business is to provide exceptional Customer Experiences. However, CX & Employee Experience work hand in hand, and modern businesses cannot elevate one without improving the other.
Businesses that are aiming to improve CX & achieve better outcomes should first understand the urgent need to create awe-inspiring experiences for their employees!
In partnership with Forbes Insights, Salesforce surveyed 300 executives across employee experience (EX) and customer experience (CX) roles and found that companies that prioritized EX to deliver a premium CX achieved 1.8 times faster revenue growth.
Also, according to Forbes, the companies with excellent CX have employees that are 1.5 times more engaged than employees at companies with less satisfactory CX; additionally, companies with highly engaged employees outperform their competitors by 147%.
In this blog, we'll talk about how Espire has improved Employee Experience over the years - resulting in satisfying Customer Experiences for global businesses.
1. Boosting Employee Engagement on Digital Channels
Technology has enabled us to connect from anywhere and anytime. The use of digital tools in the workplace allows businesses to improve communication among employees to foster better collaboration & innovation.
According to a latest forecast by Gartner, Inc - The worldwide social software and collaboration market is forecast to total $4.5 billion in 2021, an increase of 17.1% from 2020.
Tools such as Teams, SharePoint, OneDrive, Salesforce, MS Power Platform, etc have extended the boundaries of employee engagement - manifold.
We have worked to improve Employee Experience for the multiple award-winning Healthcare IT Leader in Southeast Asia by implementing a Microsoft-based centralised 'Procurement Portal', which made collaboration easier amongst the stakeholders. Furthermore, we also helped in data migration to the cloud for easier content management, enabling secure communication with the clients / visitors.
2. Improving Digital Experiences with Total Experience Solutions
IT leaders are implementing a Total Experience Strategy to deliver superior, interconnected experiences for customers and employees.
This approach incorporates complete company experiences from the employee to the customer and the user. To sum it up - Total Experience (TX) is an integration of multi-experience (MX), user experience (UX), customer experience (CX) and employee experience (EX).
TX = MX + UX + CX + EX
With the same understanding and right set of TX solutions, Espire devised a strategy for deploying a solid Modern Digital Workplace using Microsoft & Sitecore for Australian Catholic University (which ranks in the top 2% of the universities worldwide by the Times Higher Education World University Rankings 2020 & is the number one Catholic university in the Asia-Pacific region) to provide their customers & employees with the best possible experiences across all channels and touchpoints.
Our work was recognised by Microsoft and has been also awarded as the Best Personalised Experience Awards 2019 by Sitecore.
The following outcomes were achieved in terms of EX & CX -
- The implementation of a digital workplace increased Employee productivity by 3 times and helped them to collaborate, innovate, sustain, and serve to deliver new solutions.
- Staff raising service tickets reduced to less than 1% in short period
- Prospective student lead generation: Up 99% & Conversions up by 14.3% y-o-y
- Page views up by 7.8% with 410% more users on Brand Reputation - ranking page & 50% reduction in page exits
- Improved CX (Student Experiences) "anywhere, any device, anytime" through 1:1 personalised communication across all touchpoints
3. Elevating Customer & Employee Retention
a) Customers are important growth levers for any business. Therefore, the brands need to focus on providing a connected satisfying experience from the very first interaction with a prospect all the way through renewal, across all touchpoints.
According to Bain & Co, "5% increase in customer retention produces more than a 25% increase in profit."
Espire helped to improve the customer retention rate for one of the top Life Insurance companies in Singapore, by implementing a scalable Multi-Channel Customer Communication strategy to provide personalised communications across devices and channels.
Key outcomes include:
- Customer Retention increased by 6% during the initial trial
- Customer Journey Mapping delivered highly personalized CX
- Interactive solution & workflows Automation improved Real-Time Personalized Communications across devices & channels
- Customer Satisfaction improved by >5%
- "Self-Service" feature was enabled for business users
b) Employees are the most important customers and Employee Experience is directly proportional to Customer Experience. Only a happy employee can provide a superlative experience to the customers.
Therefore, it is necessary to focus on employee retention by creating a super engaging environment and arming the employees with the right set of tools and TX solutions.
Espire's Employee Journey Mapping approach is focused on providing rich and everlasting experiences to its employees and uplifting employee retention to achieve overall satisfaction and increased productivity.
With over 2 decades of experience behind us, and global operations spread across 11 locations worldwide - our Agile Digital Transformation Services help brands to be resilient to market disruptions and focus on business outcomes and returns.
To build business resilience against market disruptions, we are helping our customers deploy Total Experience (TX) solutions across enterprises and future-proof their Digital Transformation strategy. With our renewed focus on TX, we are paving way for enterprises deploy & deliver the best Customer Experience (CX), Business Experience (BX), and Employee Experience (EX) - by constantly reinventing our service offerings around Multi-Experience (MX), and User Experience (UX). Thereby, helping businesses drive greater growth and returns in 2021 & beyond.
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