Why Employee Experience (EX) is the New Customer Experience (CX)

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Top Takeaways:

• Employee experience is the new customer experience. It goes beyond a diverse, inclusive, and equitable workforce. It is also about company culture, training, work environment, and how an organization supports growth that plays into how people think about a brand.

• Many people in diverse workforces report being discriminated against. According to Deloitte’s State of Inclusion survey, nearly 2/3 of workers have experienced bias in the workplace, and 40% experience bias at least once a month.

• Studies have shown that companies devoted to DEI (diversity, equity, and inclusion) earn 140% more revenue. They are 70% more likely to capture a new market and 35% more likely to outperform their competitors.

• There is a difference between equality and equity. Equality is about treating each person with respect regardless of their background. Equity is acknowledging that people show up to work under their own unique circumstances. It considers historical and present-day disadvantages and makes sure that each individual has the appropriate resources to succeed.

• Customers buy and support companies that care about the same things that they do. According to our 2023 Achieving Customer Amazement Study, sponsored by Five9, 43% of consumers believe it’s important that a company has a social cause that’s important to them. 41% are willing to pay more if the cause is important to them, making the price less relevant. 60% of Gen Z said they are willing to tolerate a poor service experience from a company that cares about the same things they do.

• Plus, Shep and Philip discuss who they think is the most important person in an organization – the CEO, the customers, the employees, or the shareholders. Tune in!

Quotes:

“Diversity, equity, and inclusion are important to a business’s internal success with the employees, which translates to customer success.”

“Every organization can benefit from having perspectives from different countries, backgrounds, upbringings, and mindsets. The companies that embrace these can leverage the benefits of what a truly diverse and inclusive organization looks like.”

“Customers understand that they will have the best experience if the employees also have the best experience. Customers want to see that you’re treating your employees the right way and that there is diversity, equity, and inclusion in the organization.”

“There is an intersectionality between employee experience, customer experience, and digital marketing. Your digital marketing team shows the world what your brand is all about. Your customer experience team ensures customers get the service, support, respect, and appreciation they deserve. Employee experience will dictate the quality of the customer experience and digital marketing.”

About:

Philip Mandelbaum is a 20-year industry veteran and thought leader in digital marketing, customer experience, and employee experience. He is the founder and CEO of Mandelbaum Marketing and Head of Content of Customer Management Practice.

Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:

1. What does DEI mean?
2. How does employee experience impact customer experience?
3. How do you promote DEI in the workplace?
4. What is the difference between equality and equity?
5. Why is Diversity, Equity, and Inclusion in the workplace important?