With the speedy advancement of business all across, businessmen seek different ways to develop their employees and results. And with that, employee engagement is often taken as the eventual solution or, in other words, you can say a silver bullet! For all challenges and hurdles that arise in a workplace, employee engagement is supposed to improvise all of them.
Although employee engagement isn’t a magical antidote, it can surely bring massive benefits to any organization. There are employee engagement platforms that generate such an effect on an organization that is beyond a general mindset. At Ken Research, a 360-degree workplace survey will assist the company to understand its employees’ viewpoints on the company’s complete culture with NPS Score and other surveys. Employee satisfaction is incredibly imperative to an organization. Happy employees are loyal and prove to be proficient assets to the organization. They are probably to tell others about the fantastic place they operate, making them company advocates.
How to Measure eNPS?
Once your employees have answered the NPS survey, they are sorted into one of the following categories:
- 0-6 Detractors: These are actively displeased employees and represent your greatest turnover risk. They are probably to talk badly about you to their friends and acquaintances.
- 7-8 Passives: This group of employees is neither satisfied nor dissatisfied. They may not say negative things about the company to acquaintances and family, but they’re not probably to recommend the company either.
- 8-10 Promoters: This group of Point of Sale are your most satisfied employees and will say positive things about your company and recommend it as a place to function.
Why eNPS is Important?
- Improves Loyalty: Using eNPS can assist you to detect Target Segment Identification. When you ask for feedback and follow up with your satisfied employees, it turns them to be loyal. If you do the same with dissatisfied customers, it may turn them into happy and loyal employees.
- Reduces Customer Churn Rate: Business growth can also be determined by measuring the inflow and outflow of the customer in the business. That’s what customer churn rate assists you do. Churn rate refers to the number of customers who left your company owing to bad experiences or services by employees. These churned customers are a peril to your brand reputation, as they spread negative word of mouth and do negative publicity of your brand and business. So, when you gauge the churn rate of your business consistently it assists you to put control on the churning of your customers.
- Competitive Differentiation: eNPS should be used as a tool for benchmarking against one’s own company rather than benchmarking against other companies. Organizations invest a lot of money and time along with emotional costs in fascinating the potential employees, hiring them and carrying them with adequate training, hence, it becomes a prodigious loss for a company if they are incapable to recollect their top talent.
eNPS which began as a customer satisfaction tool now is a powerful way to measure and enhance the employee engagement. Employees feel valued when their suggestions are heard and their viewpoints turn into actions by the management. It is also a leading indicator to forecast future outcomes and also assists in combating the churn rate.