Full disclosure: This article was sponsored by 1E and written by Rana Vivek.
Employee experience is everything when it comes to business today. It is the one aspect of the company that employees can actually touch and feel. And while most people still see themselves as just another number on their company’s balance sheet, they need good employee experience to keep up with the evolving times.
What will happen if organizations don’t invest in their employees’ long-term success? Netflix.
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Netflix: Digital Experience Done Right
For many years, Netflix was questioned and even mocked by industry analysts. Netflix CEO Reed Hastings even approached Blockbuster CEO John Antioco in 2000, when the company was still focused on DVDs by mail, and reportedly offered to sell him the company for $50 million.
According to Variety, Antioco thought Netflix was “a very small niche business” and declined the opportunity. Blockbuster went bankrupt in 2010 and, as I write this, Netflix is now a $173 billion company.
It took nearly two decades for Netflix’s strategy to play out and the tide to turn. Seemingly quick wins have deep roots. You need to set up and provide measures for your team to help them endure long periods of doubt, ambiguity, and being misunderstood.
Being able to extend your team’s hunger and drive over a long period of time is the ultimate form of patience.
Investing in digital employee experience is a long game. Shortcuts tend to be less gratifying over time. The long game is the most difficult one to play and the most bountiful one to win.
The Digital Employee Experience
One of the most important things that any company determines if they want to survive in 2022 is their digital employee experience. What is digital employee experience? It’s about how your employees interact with organizations’ digital tools and processes and most importantly, their sentiment after doing so.
🔥 Due to a newfound focus on digital experience, 1E has announced the first annual digital experience (DEX) awards. Register here! This program awards people for the impact that they’ve had on their organizations.
It’s more difficult than ever for companies to maintain churn, especially as more and more people are working remotely with as many tools as possible. Some employees might never step foot into the office, but still, be vital to the large success of a business.
A recent report from the McKinsey Global Institute (MGI) said that 80% of the world’s population is now digitally connected. This means that every single person in the world has seen or experienced an employee experience. Whether it was customer service, sales, research, or design. All these companies are now expected to be on their digital transformation journey in hopes of realizing a competitive advantage.
The MGI study indicates that 81% of employers are experiencing a positive influence on their bottom line and they have regained credibility among customers with 83% and above customer satisfaction rates. The assumption is based on customer feedback from over 300 companies and around 40 million conversations.
The internet has become the most heavily used medium for business, providing companies with limitless opportunities to reach potential customers online. Yet while many companies are investing millions in building an online presence, the majority of employees simply cannot find that their company’s website offers them anything of value.
Encouraging DeX Trailblazers
How do organizations improve the digital employee experience? DeX trailblazers! Trailblazers are the company evangelists; those that just get it and are able to help others. Every organization should strive to discover and nurture these employees.
If you believe you are or know of anyone in your organization that goes above and beyond, nominate them (or yourself) for 1E’s first annual digital experience (DEX) awards!