Organizations need to make strategic workforce management decisions based on employee feedback in order to increase the talent of their people, their work experience, and their impact on performance.
Employee engagement surveys serve as a powerful tool to help organizations motivate and retain their people and, in turn, drive customer satisfaction and business performance.
Organizations with an employee engagement survey program have engagement levels 10% to 30% higher than those without surveys in place. This results in increased employee performance and better outcomes for the business.
Unwanted employee turnover is expensive, and causes shortfalls in knowledge, productivity, revenue, and customer relationships. It also causes the organization to lose momentum while searching for qualified replacements.
Exit surveys provide honest, reliable, and actionable data that helps identify issues that drive employees to leave, while helping leadership and managers to develop action plans to turn things around.
Preventing as few as 10 losses could save at least $100,000 in new hire costs, and helps avoid the adverse effects on work quality and customer satisfaction. Alumni re-recruitment programs reduce costs by recruiting desirable former employees.
Many companies have added programs to help new employees acclimate and fit in with the company culture in the early weeks and months on the job. However, they often fail to assess the success of those efforts.
Onboarding surveys provide results segmented by demographics and job roles, allowing the organization to develop action plans that enhance onboarding and help build long-term performance and retention.
Recruiting employees costs considerable time and money. A strong new hire program can help an organization find, keep, and engage top performers, while reducing the risk of early turnover.
Most companies rely on what they think their customers want. Growth comes from truly knowing your customers. A crystal-clear understanding of what they want, need, and value most can point the way to competitive advantage.
Surveys allow the company to assess the ease of doing business and analyze return on investment. They can delve into loyalty to understand repurchase intentions and gather feedback about functional areas.
Listening to the "voice of the customer" can help turn detractors into promoters. Armed with the right information, a company can make more effective business decisions.