Employee & Customer-Based Business Transformations
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How can companies link Customer and Employee insights and turn data into sustainable Change Plans that raise NPS? It isn’t enough to show leaders data insights and give them a list of ‘things to do’. In this session, we show you how to take leaders through a highly interactive and developmental process that addresses the Why, What and How of Change, building new mindset, capabilities and behaviors – that drive lasting business impact.
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Employee & Customer-Based Business Transformations
- 1. KennedyFitch & Qualtrics - Employee & Customer-based Business Transformations December 8, 2016
- 2. 2 2 ©2015QUALTRICSLLC. The recording for today’s presentation will be available on-demand at talentweek.com. Along with other content and webinars from Talentweek. Join the conversation on twitter by tweeting @qualtrics using #Talentweek and #HumanCapital. It’s not too late to register! Make sure your team and network register for Talentweek. Housekeeping
- 3. 3 Elliott Nelson PARTNER, HEAD OF TALENT & TRANSFORMATION INSIGHTS Elliott Nelson has been in top global roles over the past 20+ years, leading business transformations and building the Employee Experience, as Head of Talent, Learning and Organization Development in 5 companies in Germany, Switzerland, The Netherlands and USA (Pfizer, AkzoNobel, Novartis Research, Fujitsu-Siemens Computers, Compaq EMEA). He leads a team of experienced former heads of Talent and Transformation, based in Europe and the USA.
- 4. 4 Key Questions Why do we do Surveys? What do we do with the information? How can we really Change?
- 5. 5 66% of consumers who switch brands do so because of poor customer experience. (Kolsky) 66% Promoters are 81% more likely to repurchase compared with passives (44%) and detractors (16%). (Forbes.com) 81% 86% of consumers will pay more for a better customer experience. (CEI) 86% 95% of dissatisfied customers tell others about their bad experience. (Dimensional Research) 95% U.S. brands lose approximately $41 billion in revenue each year due to poor customer experience. (NewVoiceMedia) $41B Key Statistics on Customer Insights
- 6. 6 Key Statistics on Customer Insights Customer Insight leaders outperform the market 8-year stock performance of customer experience leaders vs. laggards vs. S&P 500 (2007-2014) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% CX LEADERS S&P 500 INDEX CX LAGGARDS Hundreds 107,5% 72,3% 27,6% Customer Insights Leaders outperform Laggards by 80% On average, NPS leaders outgrow competitors 2x -Bain & Co.
- 7. 7 Key Statistics on Employee Insights Employee Insight leaders drive higher TSR Best Employers saw increases in sales, operating margins and total shareholder return Aon Hewitt research of 270 companies 2010-13 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% CX LEADERS S&P 500 INDEX CX LAGGARDS Hundreds 107,5% 14% 22% Employee Insights Leaders outperform Top Quartile Companies in TSR by 57% 12% AVERAGE TOP QUARTILE BEST EMPLOYERS
- 8. 8 Mapping the mind of your Customers & Employees 02 01 03 04 Winning Strengths Where are we best at delivering value? What services & solutions should we emphasize to increase our win rate? Which capabilities should we build? Key Drivers What are the motivations, mindset and behaviors of our best customers and top employees? What drives their decisions to do business with us? Positive Experience What is our Customer and Employee Experience and how can we enhance it? How can we improve our reputation and standing vs. our competitors? Relevant & Inspiring Values Which of our values resonate most with our clients and customers, and how do we measure up against these? How can we improve our consistency?
- 9. 9 Where are you today? Where would you like to be? Clear Value Proposition Clear, informed value propositions, marketing strategies and campaigns, customers know how which problems you solve Blurred company image Lack of clear positioning on strengths and solutions, customers and employees not clear on what you are best at or your key aspirations Alignment & Collaboration Your organization sees the same goals, at the same time in the same way, and solve the same problems for customers & employees Insight & understanding Understanding the employees’ rational and emotional connection and relation to the company as a solid basis for communication Lack of awareness No validated view on how customers and employees perceive and experience the company, what drives reputation, engagement and alignment Silo Behavior Your functions and businesses don’t have common goals, don’t collaborate and don’t communicate Rigidity Basis for action-taking and interventions from un-validated client and employee knowledge Agility Sustainable change and a distinctive position towards clients through validated insights, aligned with employee motives
- 10. 10 A Change Journey based on Employee & Customer Insights Change programs & Initiatives touching head and heart Customer Insights Understand key drivers of what attracts customers & top talent What actions drive customers to us and lead to success? Which values resonate and attract our customers? What identity & key messages do our best customers associate with our brand? What drives satisfaction in key touch points of the Customer Experience? B Employee Insights Understand key drivers of what makes employees engaged and successful What do the most successful leaders and teams do well? Which values already which engage our employees? What identity & key messages do our engaged employees associate with our company? What drives engagement in key touch points of the Employee Experience? A
- 11. 11 Continuous Build culture of continuous feedback vs. one time input The Good, Bad & the Ugly Insights are sought after, even (especially) when things are going badly 2-Way Communication Insights are part of a two-way communication strategy Customer & Employee Journey Build insights all along the Customer & Employee Journey Outliers For best ROI, focus on who and which actions are successful, what drives success e.g. high NPS Key differentiators in successful organizations How We Think About Customer & Employee Insights Integrate Customers and employees are asked the same questions & actions are aligned
- 12. 12 18% 64% 90% 18% Where To Focus on Employee Engagement Rather than addressing everyone equally, the greatest ROI comes from focus on teams & people that are already engaged Swing Vote Use the ‘highly engaged’ to influence those that haven’t yet made up their minds to come along with you on your change journey Informal Leaders Successful change begins with identifying those people that are already modeling the change you want, and enlisting them as leaders Out of Scope This group will likely never change and will see a low ROI on change investment Target nr.2 This group is open to change if given a strong sense of purpose, autonomy and priorities that matter Target nr.1 We want to identify this group and use them to influence and engage the ’Swing Vote’ in the middle Highly Engaged Undecided Disengaged Research shows that most engagement results fall in a ‘normal’ distribution curve.
- 13. 13 I What Your People & Customers Are Saying We help you combine feedback data with HRIS, sales data sets, etc. to get a segmented picture of your employees & customers i i i
- 14. 14 Segment 1 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc Segment 2 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc Segment 3 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc Segment 6 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc Segment 5 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc Segment 4 Typical Profile Key Drivers Engagement, Rewards, Development, Learning, etc
- 15. 15 Example: Putting Together the Puzzle NPS Who has the most satisfied customers and employees? HRIT Understanding the particular demographics of successful teams and business segments Detail What did our satisfied customers say about our Values, Strategy or Service? Sales Data Which sales activities lead to success? Best Insights come from piecing together different data sets Composite Picture Combining these data sets tells us which groups are having success with customers and the kinds of things they are doing to be successful
- 16. 16 Integrated Process Map Collect DATA COLLECTION CHANNELS Others SMS Feedback Key Accounts IVR Surveys Employees Email Surveys Website Experience Mobile & In-App Feedback Locations Website Feedback Contact Centers Social Feedback Mobile / App Experience Analyze DASHBOARDS BY FUNCTION AND ROLE COMPARE DATA SETS Text Analytics Key Drivers Weighting Digests Customer Data Operational Data Employee Data Executive, Manager & Front-Line NET PROMOTER SCORES NPS by business line, geo & comparison to other teams, competitors Act Case Management Scorecards Data- Based Alerts Automated Actions Discover & Leverage Informal Leaders Design detailed Change plans Deploy & learn new habits Guide Top Team on new Strategy, etc. STRONG SUPPORT OF IMPLEMENTATION How We Work With You - From Insights To Actions
- 17. 17 Communicate with teams via online video Post blogs and invite feedback Create digital video messaging Store main communications accessible anywhere Regular town hall meetings to interact face-to-face Monthly or quarterly webinars Postings on Social Media Weekly or Monthly E- mail communication Consistent Messaging We help you translate insights into key, consistent messages on Values, Vision, Mission, Strategy & build 2-way channels to get critical feedback We Help You Build Multiple Channels of 2-Way Communication
- 18. 18 Examples Of Data Insights Applied To The Customer Experience Communications • Translate the company’s vision, mission and values into a clear positioning, service propositions and marketing strategies and campaigns Key Accounts Teams • Which knowledge and capabilities do we need to build and develop to nourish sustainable relationships with customers with the greatest influence on our company’s success? Marketing • Understand what attracts & motivates our best customers • How do we present ourselves to our customers with a clear image of our company? Project Management • How can we align our processes, programs and initiatives with our customers’ motivations and beliefs? • What is the best way to monitor the progress we make? Design Teams • How do we best support our teams in re-designing the customer experience? • How can we address and mind customers’ needs, perceptions and their relation to our company? Customer Service • How can we connect with opinions and needs of customers to successfully support the execution of our new company strategy? Where & how we can help you build new capabilities
- 19. 19 Examples Of Data Insights Applied To The Employee Experience Recruitment & On-boarding • Understand what attracts & motivates our most successful recruiting and on-boarding • How to train managers & HR to accelerate & create a positive starting environment? Development Dialogs • What is the quality of our development dialogs? • How to help Managers & Employees discuss development in a motivational way that fits with business opportunities? Performance Discussions • What is the quality of our goal setting & performance discussions? • How to build Coaching capabilities for more intrinsic motivation? 360 Feedback • How to build 360 assessments that reflect our new leadership values? • How to give motivational feedback & development insights? Learning • Which learning interventions provide greatest value & impact? • How to ensure learning is aligned with personal & business development goals? Mobility & Succession • Understand key drivers of successful assignments • Which experiences & business areas build leaders the fastest? Where & how we can help you build new capabilities
- 20. 20 Examples Of How We Help You Use Insights In A Transformation Deploy Use Data & Coaching to help leaders get feedback as they implement, practice new ways of thinking and doing & build Sustainable Change Design Workshops with Informal Leaders: Define Change Plan for how to change mindset, behaviors, capabilities, processes, structures, etc. Discover Discover Rational & Emotional drivers, identify ‘Informal Leaders’ who already do well to create high level plans ‘Why’ ‘What’ ‘How’ Our Integrated Change Approach
- 21. 21 Model for Organization Change 1 to 2 months 3 to 4 months 5 to 12 months Team & Peer Coaching (4 to 6 one- hour sessions – over 7+ months)
- 22. Thank you for your participation!
Notas del editor
- Good day, and welcome to this presentation. I want to present some ideas today that I hope will spark some different thinking about how you use Employee and Customer insights. There are a lot of companies out there offering data insights. But our focus is going to be in a different place - on how to actually change and do something DIFFERENT with the insights. I call that the Why What and How of Change. So let’s start with a few questions… ‘Why do we do surveys’? Companies gather insights for a lot of different reasons (name a few) You may hear me hit on this theme often but the goal of any insights should be to help us drive better business performance and profit. To build Competitive Advantage. But I would say to reach those goals, you need to first align your organization on a cleared strategic vision – what are you going to be doing DIFFERENTLy in the next 3 to 5 years? Where are you today and do you know all you need to know about what drives and motivates your customers and employees, who will determine how far you go towards that vision? ‘What do we do with the information? For those of us who have run any kind of survey, we know it just isn’t enough to show business leaders data. We’re good at giving people ‘lists of things to do’. I call that the ‘What’ of Change. The ‘What’ involves more than lists. It’s ‘what to change’ in the way they think about and respond to problems, determining which processes and organizational habits to change, and which new habits and skill. Without addressing these issues your organization and teams will simply will be stuck doing the same things in the same way, after they complete the survey ‘Action Plan’. It involves understanding of What Motivates Us, Behavior Science, Positive Psychology, Coaching and Change Management. ‘How can we really change?’ The ‘How’ involves helping them practice and learn how to implement new mindset and behaviors. This is the ‘Why’, What and How of Change and how to turn data insights into real sustainable Change. I want to share what we have learned from decades of working with organizations and how to use data insights as part of a business transformation, a Change Journey, where the outcome is better business performance and profit. To build Competitive advantage.
- There’s good business case
- This graph shows how over 8 years the stock performance of CX leaders grew over laggards by 80%
- With regard to growth, on average, an industry’s Net Promoter leader outgrew its competitors by a factor greater than two times. NPS Leaders Customers: -Buy More -Stay longer -Refer friends -Provide feedback and ideas In other words, a company’s Net Promoter Score is a good indicator of its future growth. From these last 2 slides, we see that the key to business growth is understanding what is in the mind of your customers, but business growth also comes as you raise the productivity, innovation and engagement of your employees
- What could you know if you understood the mind of your best customers and employees? What would be the value to you of knowing this information? As you think about the business value of these insights, what questions would you want to ask? What could you do with that information? What does that make you want to do differently with your customer and employee surveys?
- Where are you today in your organization? Where would you like to be in 2 or 3 years? These are a few of the key areas where companies want to transform
- The main idea here is to do parallel measurements of Employees and Customers – to understand what attracts and retains them What is the experience they have with our organization and what parts of that experience resonate the strongest What drives satisfaction and engagement
- There are a few things that companies need to change in the way they think about and respond to feedback…
- Strategy for how to influence engagement and do Change in an organization
- Every segment has soemthig to say (Analogy of politicians and their base)
- This is the way to think about organizing your insights to do a Change Journey
- Combining different data sets
- Collect data more than once – all along the Employee/Customer experience