Officevibe, a leading employee engagement and performance management software developed by Workleap, has partnered with The Starr Conspiracy to release a research report on The Potential of Employee Experience in Lean Times. The 2023 research study reveals organizations making high investments in employee experience (EX) see significant returns across business outcomes, such as customer satisfaction, employee outlook, recognition, and productivity.
While many organizations collect employee data, the report found that low-investment organizations struggle to translate this data into actionable insights or strategies. Instead, organizations with higher EX investments are 1.5x more likely to have a positive employee outlook in areas like training managers on providing feedback, fostering open communication, and creating feelings of accomplishment and fulfillment in the workplace. Officevibe surveyed over 1,160 U.S. and Canada business leaders who are directly involved in evaluating and managing solutions for employee engagement and experience at their organizations.
"It's table stakes for employers to measure employee engagement today," said Julie Jeannotte, HR expert and researcher at Workleap, the parent company of Officevibe. "But organizations that move beyond measurement to intentionally take action on their engagement data truly understand the connection between employee experiences and business outcomes. By partnering with tools like Officevibe, organizations can invest in their employee experience easily, confidently and with a higher ROI. Our research validates this by showing that higher investments lead to lower employee turnover, increased productivity, improved customer satisfaction and a significantly more positive outlook among employees."
The survey's key takeaways include:
- 62% of high-investment leaders agree EX has a significant impact on business success, compared to 37% of low-investment leaders.
- 54% of high-investing organizations see improvements in customer satisfaction.
- Organizations with high investments are 45% more likely to see improvements in key metrics such as turnover, absenteeism and employee productivity.
- Low-investment organizations use more methods to collect employee data but are less confident about its accuracy as an indicator of business success.
- Just under half (48%) of respondents believe their organizations invest adequately in EX.
"The data that Officevibe provides us is great to influence business decisions at an executive level, and supports other projects that we're working on," said Stéphanie Nadeau, Director of HR at Stingray.
Today's announcement coincides with the recent celebration of the 10th anniversary of Officevibe, a Workleap product. Workleap builds the simple employee experience software driving business forward. For more information on how Officevibe optimizes the employee experience, visit www.officevibe.com.
