Enhanced employee experience leads to 27% revenue growth: Report

VML India has launched a report titled ‘Employee Experience (EX) and why it matters.' Findings from the report show that improving EX can influence organisational credibility, perception management and ultimately, Customer Experience (CX) and revenue.

Organisations need to understand what matters to the employees and provide them with the right environment, people, resources and ways of working. An optimal EX is an intricate symphony of integrating functional operations, culture and human elements to significantly enhance brand performance.

The report reveals that a superior EX is associated with a 27% increase in revenue from new products. Furthermore, employees with a positive experience are 1.5 times more likely to find satisfaction in customer interactions.

According to the report, Employee Experience (EX) has moved from a series of isolated projects into a dynamic, continuously evolving process, influenced by industry and cultural factors. EX programs are distinctly different from traditional HR initiatives: they are organic and driven by Employee Data Experience (EDX), focused on addressing the organisation's unmet needs, and require strong leadership backing. Additionally, EX programs are measurable and must be designed with clear metrics in mind.

VML's approach to EX represents a connected, system-based strategy that integrates various aspects of employee experience and their impact on organizational performance. The agency believes that EX Transformation is the movement of shared goals which cannot be achieved top-down. To create a movement, an organisation needs to stir emotions, incite action, provide pathways, and rally employees, with quick wins, to achieve a shared business goal.

Babita Baruah, CEO - of VML India said, " We believe that unlocking the potential of the employee experience is an important part of customizing brand experiences. Our research demonstrates factors that derive from brand loyalty, such as service quality, quality of deals, quality of inventory, and personalized experience, are directly influenced by employee experience. Improving EX requires organizations to have a clear strategy tailored to their unique challenges, supported by continuous listening and improvement."

Payal Vaidya, Chief Experience Officer, VML India said, “EX has evolved into a dynamic, ever-changing process unique to each department. Identifying the right mindset helps align thoughts that influence how clients perceive their path to success. By integrating EX, employees can identify the resources needed to excel in their specific roles within the organization. The VML EX Approach begins with a clear strategy designed to solve problems unique to every organization, paving the way for continuous execution and success.”

VML's EX transformation focuses on fostering a mindset of success by identifying key areas and drivers of change. It's crucial to understand that employees will embrace their mindset and practices towards BAU only if they see a point in the change and agree with it. 

This report covers Employee Experience holistically - The top line, the bottom line, and everything in between.  Link to your copy of the report here.