Employee Experience Metrics Lead to Satisfied Employees and Revenue Growth
Employee Experience metrics (EX) are a central indicator of how satisfied employees are at your organization. Gathering EX metrics can be difficult, as employees may be hesitant to disclose information about how they feel about the company due to fears of retribution (even if these fears are completely unfounded.) However, there are several tools available to you that will help employees register their opinions freely and anonymously while providing actionable feedback so you can make their experience better.
Gallup's Q12 Employee Engagement Survey
The Gallup Q12 questions primarily focus on the employee having a mission at work, as well as the tools and support required to execute it. Team members want to not only feel that they are able to contribute to the best of their ability, but also that they feel their work matters and that there are others looking out for them within.
Lacking direction during employment is one of the quickest ways to feel stagnant and adrift during the day, and this survey provides an opportunity for the employee to give their thoughts on whether the organization is supporting them as well as they are supporting the organization. The questions on this survey are personable while also having enough depth to capture a wide variety of employee dispositions.
eNPS (Employee Net Promoter Score)
In comparison to the wide range of Gallup questions, Employee Net Promoter Score focuses on a single inquiry: "On a scale of zero to ten, how likely is it that you would recommend this organization as a place to work?" Respondents that answer 9 or 10 are promoters, and those that answer 0 to 6 are detractors. The percentage of detractors is then subtracted from the percentage of promoters.
NPS is designed to capture the respondent's feeling in the heat of the moment, and because it only consists of a single question it is easy for respondents to fill out and move on with their day; although the question itself lacks depth compared to Gallup Q12, it is excellent at quickly identifying business units that need immediate action.
mNPS (Manager Net Promoter Score)
Manager Net Promoter Score is a similar question, except it asks how likely it is the employee would recommend their manager. As the employee's manager is the individual that has the most direct impact on their day-to-day operations and is primarily responsible for assessing their performance, this allows the employee to assess their manager's performance in turn.
Other key metrics
Retention and Turnover Rates
Having a tenured employee that is willing to invest the time, money, and effort in uprooting themselves is an incredibly strong indicator that something may be amiss. Hiring and training a replacement can be quite expensive, and in this case an ounce of prevention is worth a pound of cure. It's quite possible that it may be a personal decision and have nothing to do with your organization, but it's always worth looking for recurring themes in why employees depart. Exit interviews and letters of resignation are great sources of information.
Internal Promotion Rates
On the other hand, employees willing to invest in their career, produce quality work, and look to get promoted is a good indicator of positive EX, as it shows that they are willing to stick around rather than seek a better environment at another organization. However, if these rates are low and employees are leaving for other companies to grow their skills, it's again a good idea to examine why this might be the case.
Happy employees are more productive employees, and good productivity can indicate higher morale and in turn a better EX and work culture. Employee productivity is not only a direct measurement of morale and work culture, but it also has tangible effects on the bottom line. Managers can help by soliciting feedback from employees and helping them discover pain points in their day-to-day processes.
The beauty of these procedures is they can be implemented with very little effort while simultaneously reaping a wealth of information about the employee experience. Both the Gallup and NPS surveys are easily completed by respondents, so a high participation rate is expected. However, numbers only get you so far, and it's crucial to have conversations with your employees to truly get your finger on the pulse of what is occurring. Investing in a better EX will lead to business and revenue growth as well as lowered training and hiring costs.
For more guidance on improving and measuring your employee experience, contact our team to learn more about our employment engagement surveys and other consulting services.