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Without employee experience, your bottom line will suffer

Employee experience has become the new key differentiator for companies looking to drive revenue growth. Armed with a growing body of research linking employee experience to improved employee engagement and increased revenues, successful business leaders have begun leveraging technology to empower their workforce with tools that make them more effective, more productive, and more engaged in their work. Companies that master EX can pull in up to four times more profits and twice the average revenue.

Those that don’t will take a hit to their bottom line.

Why is employee experience so important?

For many of today’s businesses, investing in EX remains the most effective strategy for amplifying profits. Since profit equals revenue minus costs, companies that want higher profits need to either spend less or earn more. If you’re already nailing the customer experience side of things, your best bet for bumping up revenue is to boost employee productivity. And if you’re still struggling with CX, creating an experience that fosters a highly engaged workforce can help.

When executives invest in employee experience, the impact ripples throughout the organization. Better experiences leads to engaged employees, who get 22 percent more work done. They feel more ownership of the organization’s success, resulting in 2.3 times higher revenue growth. They retain more customers and stay at their jobs longer.

Enhancing employee experience translates into better business results at every step of the employee journey, prompting some organizations to spend hundreds of millions of dollars on workplace engagement. Despite all this spending, however, many still struggle with low engagement scores. Often this is because they waste their money on superficial perks without addressing the massive problem plaguing most businesses: The way we work has changed, and enterprise technology hasn’t kept up.

EX for a changing workforce

Right now there’s a massive disconnect between how employees work and the tools they use on the job. When businesses don’t support their workforce with tools that don’t empower them to be more effective, the whole company suffers.

The rising focus on employee experience stems from several key trends changing the way employees do their jobs.

  • Too many apps: Companies are proliferating apps at an astonishing rate. The average large company uses more than 500, and the average employee uses at least nine. Most employees have five or more apps open at any given time.
  • Data overload: Business data is also growing exponentially. Employees already lose 25 percent of their work time to data overload, and it’s only getting worse. By 2020, the volume of available data will double every 35 days.
  • Mix-and-match devices: The average employee has at least three different devices and switches between them throughout the day. The rise of BYOD and remote work has brought a wide array of devices and apps into the workplace, leaving IT with more user endpoints to manage than ever before.
  • Tech-savvy employees: Millennials cut their teeth on technology, clocking more screen time than any other generation. These tech-savvy young employees will account for three-fourths of the U.S. workforce by 2030—and they’re willing to quit their jobs if they don’t like a company’s tech.
  • New productivity tools: Businesses can achieve massive productivity gains by leveraging technologies like artificial intelligence (AI) and robotics process automation (RPA). Automation enables companies to perform tasks up to 10 times faster, while AI will have the potential to increase productivity as much as 40 percent by 2035.

Whether you choose to drive profits by increasing revenue or cutting costs, Sapho Employee Experience Portal helps you navigate these changes more effectively by eliminating employee pain points and boosting productivity. Sapho brings all your enterprise business systems together in a single place and intelligently delivers relevant tasks and information to the right people without requiring them to log into additional systems.

By removing repetitive tasks and information searches from employees’ daily tasks, companies are giving them back time to focus on more meaningful work. In addition, Sapho provides a seamless, consistent experience on any device and other tools, such as the company intranet or messenger apps, enabling employees to easily access what they need for work wherever they are.

Employee experience isn’t just a buzzword, and it’s not a fleeting trend everyone will forget about by next year. It’s the next frontier for profit growth, and its impact on business is inevitable.

Topic: Employee experience

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