Unlocking Business Value through Digital Employee Experience

In today’s digital age, companies are constantly seeking ways to improve their bottom line and stay ahead of the competition. One key area of focus is the Digital Employee Experience (DEX), which refers to the totality of digital interactions and experiences that employees have with their employer. A well-designed DEX can have a significant impact on business value, driving employee engagement, productivity, and ultimately, revenue growth.

The Importance of Digital Employee Experience

According to a study by Gartner, companies that invest in DEX see a significant increase in employee engagement, with 70% of employees reporting feeling more engaged at work. (1) This, in turn, can lead to improved productivity, with a study by Gallup finding that engaged employees are 22% more productive than their disengaged counterparts. (2) Furthermore, a study by Forrester found that companies that prioritize DEX see a 15% increase in revenue growth, compared to those that do not. (3)

How Digital Employee Experience Impacts Business Value

So, how exactly does DEX impact business value? There are several key ways:

1. Improved Employee Engagement

As mentioned earlier, a well-designed DEX can lead to improved employee engagement. Engaged employees are more productive, more likely to stay with the company long-term, and more likely to provide excellent customer service. This, in turn, can lead to increased customer satisfaction, loyalty, and ultimately, revenue growth.

2. Increased Productivity

A study by Smartsheet found that employees who are given the digital tools they need to do their jobs effectively are 40% more productive than those who are not. (4) By providing employees with the right digital tools and experiences, companies can improve productivity, streamline workflows, and reduce costs.

3. Enhanced Collaboration and Communication

DEX can also improve collaboration and communication among employees, regardless of their location or department. A study by Slack found that companies that use collaboration tools see a 25% increase in productivity, compared to those that do not. (5) By providing employees with digital tools that facilitate collaboration and communication, companies can break down silos, improve workflows, and drive innovation.

4. Better Decision-Making

Finally, DEX can also improve decision-making within an organization. By providing employees with access to data and analytics, companies can empower them to make data-driven decisions, rather than relying on intuition or anecdotal evidence. A study by Tableau found that companies that use data analytics see a 10% increase in revenue growth, compared to those that do not. (6)

Strategies for Improving Digital Employee Experience

So, how can companies improve their DEX and unlock business value? Here are a few strategies to consider:

1. Conduct Employee Feedback and Research

The first step in improving DEX is to gather feedback and research from employees. This can be done through surveys, focus groups, and one-on-one interviews. By understanding the pain points and challenges that employees face, companies can develop targeted solutions to improve their DEX.

2. Develop a Digital Employee Experience Strategy

Next, companies should develop a digital employee experience strategy that aligns with their overall business goals and objectives. This strategy should include specific goals, metrics, and timelines for improving DEX.

3. Invest in Digital Tools and Technologies

Companies should also invest in digital tools and technologies that support DEX. This can include collaboration tools, data analytics software, and digital learning platforms.

4. Provide Training and Support

Finally, companies should provide employees with the training and support they need to effectively use digital tools and technologies. This can include online training modules, workshops, and one-on-one coaching.

Conclusion

In conclusion, Digital Employee Experience is a critical component of business value, driving employee engagement, productivity, and revenue growth. By understanding the importance of DEX, how it impacts business value, and implementing strategies to improve it, companies can unlock significant business benefits. We’d love to hear from you - what strategies is your company using to improve DEX? Leave a comment below and let’s start a conversation!

References: (1) Gartner, “2019 Digital Employee Experience Survey” (2) Gallup, “State of the American Workplace” (3) Forrester, “The Business Case for Digital Employee Experience” (4) Smartsheet, “2019 Productivity Study” (5) Slack, “2020 Future of Work Study” (6) Tableau, “2020 Data Analytics Study”