Major Issues Facing Chief Executives Today
As has been noted in two previous CEO summaries of reports issued by Forum for People Performance Management and Measurement, Linking Organizational Characteristics to Employee Attitudes and Behavior - A Look at the Downstream Effects on Market Response & Financial Performance and Employee Lifetime Value: Measuring the Long-Term Financial Contribution of Employees, the most important issue facing chief executives is continuous focus on driving profitable revenue growth. A key opportunity that the c-suite needs to consider is to look internally at the value of their employees. In the increasingly competitive environment of service-related business, keeping employees engaged and satisfied should be an increasingly important strategy for chief executives. This study focuses on understanding how creating engaged employees delivers a dual benefit of increasing both employee productivity and customer engagement.
What This Research Has Revealed
The study, “The Relationship between Employee Satisfaction and Hospital Patient Experiences” asks the key question of how service-based organizations, such as hospitals, determine their level of employee engagement and what impact it has on patients. The findings can be extrapolated beyond the hospital environment to apply to broader service-based employers. In this study, key findings include:
Ideas for Applying This Research to Your Business
Understanding that employee satisfaction impacts how they treat customers is the critical finding of this study. Once employee recognition becomes a key strategy of an organization, higher employee engagement and productivity leading to increased customer satisfaction is the result, which will drive financial growth. Here are a few ideas to get started:
In our increasingly social world, the power of the customer is growing fast. They can share a negative or positive experience with hundreds of their peers in the few seconds it takes to post a Facebook status. Investing in your employee’s satisfaction results in higher engagement among employees and is a direct link to keeping customers satisfied and engaged. As we all know, a customer who has had a positive experience with a brand will refer your business to their friends. That’s money delivered right to the bottom line.