These days, most companies strive to take care of their customers.
They tend to appreciate the direct correlation between customer experience and their bottom line. Less appreciated, however, is the impact of positive employee engagement on that final profit figure. In fact, many companies not only fail to understand this aspect of company performance, they neglect it entirely. But the research is in: employee engagement moves the needle on a whole range of metrics that directly impact the bottom line.
Engaged workers not are not only less likely to take days off, their commitment to their work improves safety, shrinkage and defect outcomes.
The result? Improved productivity, sales and profitability.
According to Gallup, when comparing the top 25% of business units with the best employee engagement with those at the bottom, the better engaged players exhibited improvements in the core areas.
With the enhancement of employee engagement being a primary feature of effective organizational learning; positive employee training affecting productivity by as much as 17% and profitability by as much as 21%, the picture of how learning technology affects the bottom line starts to become even clearer.
An online survey conducted by Harris Poll on behalf of CareerBuilder reported that employers using a structured learning program benefit from:
- 21% positive contributions to meeting learning / revenue / training targets
- 31% less employee turnover
- 38% higher morale
- 42% higher productivity
- 44% increased efficiencies
- 45% greater employee trust in the organization
- 46% improved employee confidence
- 49% increase in employee engagement
Separately, Aberdeen Group found that when comparing “Best in Class” organizations who have invested in strategic learning technology versus those with no such technology, the former show a clear advantage for key results of first year retention, first year performance milestones, and hiring manager satisfaction (year-over-year). It’s safe to say that structured learning, as facilitated by organizational learning, is not only beneficial, but remarkably effective, and has proven results on a company’s bottom line.
How Investments in Employee Engagement Keep on Giving
Once the right organizational learning solution is in place, and employee engagement is raised to an optimal level, the positive impact on customer experience is not only easy to observe, it is inevitable. For instance:
Research from Blake Morgan notes that “Companies with highly engaged employees outperform their competitors by 147%”, and that “Companies that excel at customer experience have 1.5 times more engaged employees than companies with poor customer experience”.
Australian business transformation consultancy Maximus observes that, “In the experience economy, happy staff make for happy customers, and happy customers lead to higher brand loyalty, more sales and bigger profits. Share earnings for companies with highly-engaged employees are nearly 150% higher than for other companies.”
To sum up this way of thinking, Marriott International founder J.W. Marriott once said, “Take care of your associates and they’ll take care of your customers.” Mr Marriott knew what he was talking about. With a thriving culture focused on delivering positive employee experiences, Marriott International has been repeatedly rated as a great place to work, and, as a result, is a provider of consistently superb customer experiences.
Don’t be left behind. Try Parenthexis Business today to experience how an enhanced organizational learning system can impact your workforce in more ways than before.