This devastating COVID-19 global pandemic has forced companies across industries to make the tough decision to either shut down their operations or pivot to a new business strategy and reconfigure their workforce. As companies move towards the “new normal” caused by the COVID-19 pandemic many leaders are choosing to take alternate routes and change their business models. Leading companies are already recognizing that the Employee Experience (EX) is the new battleground for increased productivity and competitive advantage and remaining competitive with a highly productive workforce now means creating an EX that excites and engages. The parallels between a superior Customer Experience (CX) and Employee Experience (EX) are striking. An optimized CX generates loyalty and additional sales. A stellar EX attracts talent, boosts workforce engagement, productivity and retention. This in turn directly improves a business’ financial performance.
Source: Accenture Strategy, 2017
Employee Experience (EX) is not just about feeling good at work. Numerous published studies (Deloitte, PWC, Accenture, IBM) have shown links between employee experience and retention, discretionary effort, and work performance.
Your Employee Experience isn’t just for employees. Design Your Employee Experience for Business Results
According to a recent IBM and Globoforce, 2016 WorkTrends Survey, increasing the Employee Experience Index (EXI) score by a margin of 0.25 (on a five-point Likert agreement rating scale) corresponds to 0.86 percentage-point improvement in ROA and a 1.81 percentage-point improvement in ROS (see Table1). Table 1: Impact on ROA and ROS of a .25 increase for EXI
Metric Impact of a 0.25 increase for EXI
Return on Assets (ROA) 0.86 percentage-point increase
Return on Sales (ROS) 1.81 percentage-point increase

Source: IBM and Globoforce, 2016 WorkTrends Survey

Example

Imagine if a company with sales revenue of R600 million with ROS at 15 percent in 2018 and an average EXI score of 3.50, could increase its EXI score by 0.25 (from 3.50 to 3.75), its ROS could increase from 15 percent to 16.81 percent. Assuming the same sales in 2019, the associated increase in operating income would be R11 million.

Linking employee experience to organisational business outcomes

Employees increasingly expect their workplace experiences to match their experiences as customers and are often disconcerted when they don’t match. What creates a positive, motivating experience at work? Mainly, it’s the meaning and growth people find in the work itself, and to improve that, the entire organisation has to be involved. Employee experience should be approached with data in hand, just as big business decisions are – ask yourself – are your actions making an impact? If not, change your actions, and see what happens to the metrics. Employee and customer experience are certainly linked and organisations need a blended focus on employee and customer experiences, and to do so, organisations need to rethink how effective their existing silos are. There is a need to measure the “new normal” as Covid-19 has changed all the perceptions of what employees see as important and the results of this measurement will form the basis for future strategic planning, strategic intent and organisational alignment. It is common knowledge that to have an industry-leading CX, there needs to be an established infrastructure that supports this initiative. Similarly, to attract and retain the best company culture, organisations must make intentional efforts to encourage EX. Those brands that do prioritize EX on par with CX are setting up a culture bred for success. As EX ascends to its rightful place next to CX as a driver of business impact, the question of how to measure and analyse it becomes even more critical. The answer is not as simple as just cross-applying the metrics one would use for CX. Employees spend nearly half their waking hours at work and especially, in the current environment they’re looking for purpose and meaning at the office, not just ping pong tables or free food

Internal Feedback Loops

Just as External Feedback loops are used for CX, Internal Feedback loops are employed to gather the feedback from the internal team, to maintain a consistent level of performance across the organisation, providing insight while fostering a sense of collaboration and cohesion. It is essential to start afresh and identify how employees see the strategies under the new normal.

Employee Experience (EX) Metrics Your Company Should Be Measuring

Workplaces have different generations of employees in different life-stages. Young, single employees have different needs to new parents, who in turn have different needs to people whose children have left home. Employees’ needs may also differ from department to department and from geography to geography. This has been well understood for ages. What is new is that demographics aren’t enough. Established behaviour science research offers guidance on how to measure organisational EX which is defined through behaviour, and is evidenced by the alignment of the elements inherent in all organisations Pryor et al., (2007), i.e. purpose, principles / values, process, people and performance. Based on the sound theory and established best practice the Stratview EX System measures the degree to which people in the organisation (the actual implementers of strategy) make sense of the organisational environment, providing an integrated approach to EX measurement, will allowing leaders to take quick and substantial results to manage organisational effectiveness. The Stratview EX System, a validated measurement tool, provides a comprehensive, pragmatic framework in which managing EX can become a core competency. It allows companies to continually evaluate their actions in terms of the organisation’s alignment to strategic intent, giving insight into whether daily work is adequately adding value to the company’s intentions.
Stratview EX empowers organisations to deliver consistent, intentional and authentic Employee Experience (EX).
Leading companies are already recognising that the EX is the new battleground for strategy implementation, increased productivity and competitive advantage. Maintaining that competitiveness with a highly productive workforce now means creating an EX that excites and engages. This in turn directly improves a business’ financial performance The Stratview EX System , a validated measurement tool, based on sound theory and established best practice provides a comprehensive, integrated and pragmatic framework in which managing EX and strategy implementation can become a core competency, allowing companies to continually evaluate their actions in terms of the organisation’s alignment to strategic intent, giving insight into whether daily work is adequately adding value to the company’s strategic intent The Stratview EX System measures the degree to which people in the organisation i.e. the actual implementers of strategy make sense of the organisations environment and the strategy adopted by the organisation and its departments. It then creates an index EXI looking at the five major disciplines of any of business as defined by the 5P’s Strategic Implementation Model suggested by Pryor et al., (2007).
Stratview EX empowers organisations to deliver consistent, intentional and authentic Employee Experience (EX).
Using the StratviewEX System can assist organisations to identify the EX processes, skills, technologies, and best practices that can be used to link strategic planning with strategic implementation through the measurement of EX against clearly defined dimensions by:
  • Establishing and updating organisational objectives (Purpose), policies and procedures
  • Establishing accountability (People) for strategy implementation
  • Gathering and analysing performance data and
  • Reporting and using feedback of performance information to interrogate and adjust organisational strategy and Employee Experience (EX) if need be
The Stratview EX system ignites breakthrough innovations and helps organisations to monitor Employee Experience (EX) and create strategy execution as a core competence.
Adopting the StratviewEX System will result in:
  • Clarity – about why the organisation exists.
  • Consensus – understanding of what the company stands for.
  • Coherent Organisation – what has to be done – relook current structures and supporting processes.
  • Cohesive Culture – mindset, a common language.
  • Consistent Focus – on performance and adding value to the company and its clients.
  • Creative Innovative ideas – providing more value to your clients.
  • Creating Transformation – a game changer for your firm.
The Stratview EX System helps organisations identify and take advantage of major strengths that can dramatically reduce costs and generate new income streams, in the shortest possible time.