Crafting the employee experience
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Transcript of Crafting the employee experience
what we know… crafting the employee experience
Presented by: Peter Baverso
what we know Experience Value Chain
Three Value PropositionsCustomer ExperienceEmployee Experience Financial Value Proposition
return in assets
operating margin
revenue growth
customer impression customer loyalty
employee attitude customer impression revenue growthdrivesdrives
attitude about the
job
attitude about the company
employee retention
employee behavior
what we know Experience Value Chain
Employee Value ChainEmployee Experience Financial Value Proposition
5 unit increaseemployee attitude
0.5 % increaserevenue growth
drives
return in assets
operating margin
revenue growth
FLOW Behavior
Company
JOB
Retention
Employee Engagement Drives Customer Loyalty
● 5% increase in customer loyalty = ● 25% increase in profits ● 26% return to shareholders ● 29.5 % increase in market value ● 57% higher returns than peers
Employee Engagement Making the Case
HIGH ENGAGEMENT COMPANIES
● High engagement companies improved operating income 19.2%
● 13.2% improvement in net income growth over a one-year period
● 27.8 per cent improvement in EPS growth
LOW ENGAGEMENT COMPANIES
● Low engagement companies operating income declined 32.7%
● 3.8% decline in net income over a one-year period
● 11.2% decline in EPS over the same period.
what we know Experience Value Chain
Employee Value ChainEmployee Experience Results
24 unit increaseemployee attitude
20 % decreasein operating costs
drives
52 % increase in response time
$1 MM margin
revenue growth
Employee Engagement
FLOW Behavior
Company 46% decrease in vacancies
JOB 90th Percentile
Retention97% decrease
in turnover
“The architecture of participation”
—Tim O’Reilly
Architecture of Engagement
Execution
CultureStructureFLOW
Structure
“People want to be part of something larger than
themselves. They want to be part of something they’re really proud of, that they’ll fight for,
sacrifice for, trust.” —Howard Schultz, Starbucks
Organizational Structure
Organize functions into five communities of practice focused on member experiences and illumination
Provide organizational and member support in four key areas – touchpoint critical
Structure to Engage
● Clearly articulate strategy and vision ● Develop an organization of leaders – at all
levels of the organization ● Create a structure that transfers decision
making to the most appropriate level of the organization
● Allocate resources purposefully to allow employees to succeed
● Allow fluid boundaries across communities of practice
● Reward at the touchpoint level
People
● Know your employee ● Who are they? ● What do they want? ● Why are they there? ● What excites them?
● How do we make money? ● Vanilla Syndrome?
People Listen to Them
QuantitativeQualitative Passive
Culture
“We are a ‘Life Success
Company”’ founder, RE/MAX
Cultural Artifacts
● Traits and behaviors ● Language and symbols ● Heritage and traditions ● Shared values ● Performance standards ● Quality standards ● Reinforcement strategies
“In the end, management doesn’t change culture.
Management invites the workforce itself to change the
culture.”
—Lou Gerstner
Culture of Success
● Compensate and reward purposefully ● Educate and enlighten
● Benefits ● Financial Education ● Professional Development
● Involve employee in decision making ● Choose providers that fit overarching
strategy
Execution
“Nothing is so contagious as enthusiasm.”
—Samuel Taylor Coleridge
Execute to Engage
● Give permission to perform ● Expand the boundaries of performance ● Be authentic and align choices ● Hire good people and get out of the way ● Embrace expansive thinking and risk
taking ● Celebrate risk taking and innovation
“It’s always showtime.”
—David D’Alessandro, Career Warfare
Questions?
Thank You!