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There is a direct correlation between heightened customer satisfaction and increased company profitability. What’s more, employee engagement is vital to every company's success and has a proven direct impact on increasing employee retention and loyalty, reducing turnover costs, and driving a more customer-focused workforce and environment.
Ellen Hannigan, Solutions Marketing Manager for Verint Systems, told Loyalty 360 that its recently released Voice of the Employee Business Impact Solution serves as a foundation for a company’s employee engagement strategy. The software is designed to help organizations manage a comprehensive, ongoing, and committed employee engagement program by capitalizing on the voice of their employees (VoE) to drive employee and customer satisfaction, loyalty, and bottom-line performance.
“Companies can actively engage and listen to employee feedback to understand truly what they care about, what motivates them, their perceptions, and what keeps them happy,” she said. “The VoE solution collects, analyzes, and acts on employee feedback, understanding employee motivations, and also offers valuable feedback on improving business processes.”
The VoE offering serves as the latest addition to Verint's series of Business Impact Solutions, which are predefined combinations of the company's award-winning workforce optimization (WFO) and voice of the customer (VoC) analytics software to help address specific business needs.
Citing one of the reasons Verint came up with the VoE solution, Hannigan pointed to the Gallup 2013 State of the American Workplace Report, which stated that 70% of American workers are not engaged or actively disengaged – a point Gallup estimates costs the U.S. between $450 billion and $550 billion each year in lost productivity.
Hannigan said the VoE solution provides a centralized platform for companies to analyze customer and employee data.
“The real value here is companies can be consistent and committed in managing this ongoing process,” she explained. “We’re seeing a correlation between highly engaged employees, customer satisfaction, and company profitability.”
Some companies are using the solution to assist with employee NPS scores, Hannigan said.
“The more employees feel respected, the more engaged and motivated they can be,” she said. “The more proactive companies are, the more they see heightened engagement from employees and customers.”
With the Voice of the Employee Business Impact Solution, companies can engage and listen to their employees on an ongoing basis, understand satisfaction and engagement levels within the organization, and respond accordingly. This enables functional areas across the business, such as Human Resources, to learn about what drives performance, perceived obstacles, and areas of misalignment.
The solution leverages the company’s Voice of the Customer Analytics technology to provide companies with a single, holistic view of both the VoE and VoC to cultivate personnel, products, services and supporting business processes, as well as foster increased employee engagement, improved customer loyalty, and new opportunities to drive revenue.
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