There’s no doubt that employee experience is critical to business success. Companies that deliver great employee experiences achieve greater employee productivity, realize higher revenue per employee, and experience significantly lower turnover.
Announcing employee experience management solutions from SAP and Qualtrics
We know that great employee experiences drive great customer experiences. Companies that focus on employee experience have up to 30 percent higher customer satisfaction and 10 percent higher customer ratings.* Yet two-thirds of the workforce is actively disengaged, and 2 million employees turn over every month because of negative experiences in the workplace.**
Indeed, the world has changed dramatically for businesses over the past 10 years. Employees have the upper hand in today’s job market; in a matter of seconds they can evaluate which companies provide the best experiences at work and which ones don’t.
Imagine looking up a new restaurant in town and it has 87 reviews with an average of two out of five stars. You would change your dinner plans, right?
Winning in the Experience Economy
We are living in an experience economy, where organizations must continuously listen to employees in order to improve their workplace experiences and drive business results. Furthermore, they need the ability to combine experience data (X-data) and operational data (O-data).
Most companies have a wealth of O-data. With SAP SuccessFactors solutions, for example, you have rich operational human resources (HR) data, so you know in near real time what’s happening with your workforce: which employees are leaving the organization, for example, by department, role, geography, gender, etc.; how many candidates accept offers and reject offers; how long it takes for new hires to get to full productivity; and more.
What organizations often don’t know is why those things are happening. That’s the value of capturing X-data from Qualtrics, to understand the beliefs, attitudes, and intentions of employees that influence whether they stay or leave the organization, whether candidates accept or reject offers, the effectiveness of new hire training and development, the time to productivity for new hires, how managers are doing, and more.
This is where we see the true value of SAP SuccessFactors and Qualtrics together. When X-data is combined with O-data, it provides the context that allows organizations to make decisions and focus on the actions that will drive the biggest impact.
That’s why I’m excited to announce today three employee experience management solutions that gather employee experience data throughout the entire employee life cycle, surface insights based on employee feedback, and empower HR leaders and managers to act on those insights quickly and with precision to continually improve the employee experience.
With the SAP Qualtrics Employee Engagement solution, organizations can empower every HR leader and manager across the organization with real-time insights to improve employee engagement and retain top talent. The solution captures feedback to understand every experience that matters to employees so that managers can automatically identify where to focus and which actions to take based on understanding key experience, engagement, and productivity drivers.
With powerful Text iQ analytics, the solution analyzes open text responses, making it easy to automatically spot trends, monitor topics, and track employee sentiment. Managers have access to configurable, role-based dashboards that provide relevant insights on where and how they can drive improvements for their individual teams. With built-in action planning and follow-up pulse surveys, they can also track improvements to help ensure that the changes they make drive results.
The SAP Qualtrics Employee Lifecycle solution collects feedback and insights from employees at key moments across the employee journey so that HR leaders can act with precision and in real time to drive improvements. Organizations can jump-start their programs by leveraging expert onboarding and exit content, workflow, and automations that can be embedded into operational systems and processes. Surveys can automatically be triggered at specific milestones, such as first-day onboarding, 90 day post-hire, training, promotion, exit, and more.
Organizations can also design and deliver compelling benefits and compensation programs with the SAP Qualtrics Employee Benefits Optimizer solution.
Benefits are often the largest cost for a company. So why guess at what employees might want or value? The days of companies having to guess what employees want in terms of their benefits offering or waiting months to complete a review of their benefits package are over. With SAP Qualtrics Employee Benefits Optimizer companies can do it all instantly. Quickly identify the most optimal benefits package for a unique company and budget, based on employee feedback and a key driver analysis of what is really important to employees — all without the need for a data scientist or the constant re-modeling that is common with current solutions and capabilities.
Powerful conjoint analysis capabilities enables analyzing the data in real time and see the results as soon as the responses come in. This means the opportunity to quickly, affordably, and confidently identify optimal benefits offerings, even as employee preferences and market dynamics change.
This article first appeared on the SAP News Center.
When it comes to employee experience, the path to greatness is not simply collecting employee feedback and analyzing it. It’s the ability to listen, understand, and act — with absolute precision and conviction — to drive ongoing experience improvements. This is what leads to employees feel valued and thus deliver more, build a positive culture, and advocate for the brand, helping drive great business results.
*Gallup 2018 study
**U.S. Department of Labor Bureau of Labor Statistics