Organisations throughout the world began to recognise the value of employee experience and sentiment in 2021, particularly when it came to their digital experiences. Devices have supplanted the actual workplace as a result of the widespread adoption of remote and hybrid working, digitising both the employee experience and the working environment.
If companies want to be competitive and profitable in 2022 and beyond, they must emphasise a positive digital employee experience (DEX) and develop an efficient DEX programme. It's much easier said than done. While many firms have adopted technological components of a digital workplace framework, few have enhanced employee experience or advanced digital dexterity, as Gartner's new 2022 projection results demonstrate.
So, how dangerous can bad DEX be for the growth of your company? Let’s find out:
Drop In Revenue Generation
Employees that are unsatisfied with their work experiences will become disengaged and less productive, as should be obvious. The lower staff productivity, the greater the impact on revenue. In fact, according to a HubSpot analysis, missed productivity costs American firms $1.8 trillion each year. Low involvement, according to Gallup, damages the global economy by $8.1 trillion.
According to research done by 1E, over a third of employees faced greater IT difficulties in 2020, with 73 percent reporting that it would take days, hours, or weeks to fix those issues, with 69 percent unable to work (or only partially work) until IT admins have repaired their concerns.
Employees are irritated, less productive, and unable to work as a result of poor digital experiences. Many conventional IT procedures aren't designed with the capabilities needed to support the future of work, according to a Forrester research paper.
For example, one in three organisations has first-time resolution (FTR) rates of 50% or below. Take advantage of this by simplifying internal procedures, improving employee digital experiences, and giving much-needed self-service or self-healing choices.
Rise In Employee Turnover
The Great Resignation has taught us that individuals prioritise a positive workplace experience over external reasons (like an actual epidemic), and will leave a job they don't enjoy. 1 in 4 employees in the UK stated they were actively planning to resign from current positions within their foreseeable futures, as reported by The Guardian in November 2021. Moreover, statistics from the Department of Labor show that Americans are also abandoning their employment at an all-time high, with 4 million workers resigning per month since spring 2021.
Executives who fail to create a positive employee experience risk greater turnover as unsatisfied employees depart. As a result, high staff turnover raises recruiting and training expenses, putting a strain on management and HR resources. Employee disengagement is expected to cost the UK economy £340 billion annually in missed training and recruitment costs, sick days, productivity, creativity, and innovation.
Employees will be happier and turnover will be lower if you listen to them, understand their feelings, and use that information to inform your DEX programme. In fact, Forrester suggests that companies merge telemetry data with user sentiment data in advance to facilitate cross-departmental research and continual DEX development.
Problematic Customer Experience
Another expense of negative employee experience to consider is the impact on your customers (CX). Simply said, happy customers are the result of engaged personnel. Do you doubt me?
According to Forbes:
Employees who work for companies that excel at customer service are 5 times more engaged.
Employees at organisations with above-average CX are 79 percent more engaged in their employment.
Employers who invest in employee experience are four times more lucrative than those who do not.
A negative employee experience can demotivate your employees and make them less inclined to be enthusiastic advocates for your company. Focus on giving your employees the finest possible experience, and you'll reap the rewards when it comes to your customers.
Simply put, a poor employee experience – particularly a poor digital employee experience – can have significant financial consequences for your firm. When Forrester claimed that an exceptional digital employee experience (DEX) is no longer a luxury, they were correct.