Genesys Moves Experience Measurement Beyond NPS with Actionable Insights and Industry Benchmarking
Tuesday, 27 June 2023, 16:34 IST
Genesys® today unveiled its Experience Index™ methodology: the first people-centric approach based on listening and understanding what really motivates stakeholders to help organisations improve any experience and business performance. As a global cloud leader in artificial intelligence (AI)-powered experience orchestration, Genesys pioneered this progressive, adaptable experience management approach to give organisations actionable insights into what damages engagement and loyalty, providing a competitive advantage born from empathy.
Many businesses rely on traditional measurement systems like Net Promoter Score (NPS) and other satisfaction ratings that were created decades ago. While these tools detect overall sentiment, they often fail to give organizations a clear understanding of the employee and customer journeys to merit the score, either good or bad – ultimately limiting an organisation's ability to effectively adapt when needed. To meet the needs of today's experience-driven consumers, businesses are looking for a more modern, tailor-made approach to defining, measuring and improving any experience. In fact, Gartner Research predicts that by 2025, more than 75% of organisations will have abandoned NPS as a measure of success for customer service and support.
The Genesys Experience Index methodology combines human sentiment with industry benchmarks and data from the Genesys Cloud CX™ platform or potentially even other sources. Through this comprehensive, data-driven approach, organisations can now pinpoint where an experience goes wrong, and what needs to be done to fix it, with unprecedented precision to deliver stronger end-to-end experiences in the contact center and beyond.
"Orchestrating loyalty-building experiences today requires a new people-centric and actionable approach to measuring and benchmarking experience quality," said Peter Graf, chief strategy and operations officer at Genesys. "With the Genesys Experience Index, we're giving organizations a new way to action what matters most to improve end-to-end experiences and drive better results for their employees, customers and business alike."
Genesys Experience Index Delivers Tailored Solution to Help Contact Centers Improve Employee Loyalty
As contact center employees often serve as the first point of contact between a brand and consumers, the agent experience directly correlates to the quality of the customer experience (CX). Low employee engagement and unresolved pain points in the technology and services they use can be detrimental to a brand's reputation. In an industry that suffers from one of the highest attrition rates — up to 40% in some industries, according to "The State of Customer Experience" report from Genesys — the employee experience has never mattered more. And leaders are taking note: the No. 1 priority for nearly half of CX leaders is investing in the improvement of the employee experience.
Now with the Genesys Experience Index Offer for Contact Center Employees, the company is helping organizations optimize their businesses by giving them insights about:
1. How their employees rate their entire journey from onboarding, training and beyond.
2. How they compare with their industry peers so they can better attract and retain talent.
3. How the agent experience is affecting the customer experience — positively or negatively.
4. What tailored strategies they should implement to improve the contact center agent experience
With the Genesys Experience Index, organizations can analyze the quality of their experience in a user-friendly dashboard, tying together employee sentiment results, industry benchmarking based on data captured from thousands of contact center agents across six major industries along with Genesys Cloud CX platform data or other sources. Additionally, organizations can receive consultative analysis from expert Genesys advisors to help them identify patterns and create an action plan to strengthen their overall contact center employee experience.
Genesys customers participating in the pilot of the Genesys Experience Index gained insights that provided detailed recommendations for ways they could optimize, such as:
1) An online membership fashion retailer with a global footprint found agents handling its digital service channels had a significantly lower well-being score than other areas. Meanwhile, customer interaction data from Genesys Cloud CX showed demand for digital channels had ballooned in the same period. The Genesys Experience Index predicted that employee turnover in the retailer's most popular channel was highly probable, putting it at risk for compromised customer outcomes if not addressed.
2) A Canadian financial services company uncovered its agents felt unprepared to do their jobs well, training was insufficient and scheduling issues were causing mounting frustrations. When comparing agent sentiment with data from Genesys Cloud CX, it was identified that the organization wasn't utilizing the workforce engagement management capabilities it had purchased, which could help them directly improve their employee pain points.
3) A nonprofit healthcare company identified its agents were dissatisfied with onboarding and felt undervalued, overworked and not fully equipped to help customers. The Genesys Experience Index analysis found the organization could improve its employee experience by enhancing its knowledge base and investing in employee engagement strategies and technology to improve its culture.
"For decades, companies have had useful ways to measure individual interactions, but tools to understand total experience — over a series of connected activities and objectives — have been non-existent or imprecise," said Sheila McGee-Smith, president and principal analyst at McGee-Smith Analytics. "After years of research, testing and fine-tuning, Genesys is delivering the Experience Index, pioneering an approach that allows organizations to tap into the exact insights they need to improve any experience from beginning to end. With this new offer, Genesys is helping companies create strategies to solve a perennial contact center industry problem: employee turnover. Experience Index gives organizations a tailored, industry-specific solution to gain new levels of visibility so they can improve agent satisfaction and engagement, leading to improved customer experience."
The Genesys Experience Index is available now to organizations in the US, Europe, the Middle East and Africa. For more information on the Genesys Experience Index for Contact Center Employees visit the AppFoundry®.
Many businesses rely on traditional measurement systems like Net Promoter Score (NPS) and other satisfaction ratings that were created decades ago. While these tools detect overall sentiment, they often fail to give organizations a clear understanding of the employee and customer journeys to merit the score, either good or bad – ultimately limiting an organisation's ability to effectively adapt when needed. To meet the needs of today's experience-driven consumers, businesses are looking for a more modern, tailor-made approach to defining, measuring and improving any experience. In fact, Gartner Research predicts that by 2025, more than 75% of organisations will have abandoned NPS as a measure of success for customer service and support.
The Genesys Experience Index methodology combines human sentiment with industry benchmarks and data from the Genesys Cloud CX™ platform or potentially even other sources. Through this comprehensive, data-driven approach, organisations can now pinpoint where an experience goes wrong, and what needs to be done to fix it, with unprecedented precision to deliver stronger end-to-end experiences in the contact center and beyond.
"Orchestrating loyalty-building experiences today requires a new people-centric and actionable approach to measuring and benchmarking experience quality," said Peter Graf, chief strategy and operations officer at Genesys. "With the Genesys Experience Index, we're giving organizations a new way to action what matters most to improve end-to-end experiences and drive better results for their employees, customers and business alike."
Genesys Experience Index Delivers Tailored Solution to Help Contact Centers Improve Employee Loyalty
As contact center employees often serve as the first point of contact between a brand and consumers, the agent experience directly correlates to the quality of the customer experience (CX). Low employee engagement and unresolved pain points in the technology and services they use can be detrimental to a brand's reputation. In an industry that suffers from one of the highest attrition rates — up to 40% in some industries, according to "The State of Customer Experience" report from Genesys — the employee experience has never mattered more. And leaders are taking note: the No. 1 priority for nearly half of CX leaders is investing in the improvement of the employee experience.
Now with the Genesys Experience Index Offer for Contact Center Employees, the company is helping organizations optimize their businesses by giving them insights about:
1. How their employees rate their entire journey from onboarding, training and beyond.
2. How they compare with their industry peers so they can better attract and retain talent.
3. How the agent experience is affecting the customer experience — positively or negatively.
4. What tailored strategies they should implement to improve the contact center agent experience
With the Genesys Experience Index, organizations can analyze the quality of their experience in a user-friendly dashboard, tying together employee sentiment results, industry benchmarking based on data captured from thousands of contact center agents across six major industries along with Genesys Cloud CX platform data or other sources. Additionally, organizations can receive consultative analysis from expert Genesys advisors to help them identify patterns and create an action plan to strengthen their overall contact center employee experience.
Genesys customers participating in the pilot of the Genesys Experience Index gained insights that provided detailed recommendations for ways they could optimize, such as:
1) An online membership fashion retailer with a global footprint found agents handling its digital service channels had a significantly lower well-being score than other areas. Meanwhile, customer interaction data from Genesys Cloud CX showed demand for digital channels had ballooned in the same period. The Genesys Experience Index predicted that employee turnover in the retailer's most popular channel was highly probable, putting it at risk for compromised customer outcomes if not addressed.
2) A Canadian financial services company uncovered its agents felt unprepared to do their jobs well, training was insufficient and scheduling issues were causing mounting frustrations. When comparing agent sentiment with data from Genesys Cloud CX, it was identified that the organization wasn't utilizing the workforce engagement management capabilities it had purchased, which could help them directly improve their employee pain points.
3) A nonprofit healthcare company identified its agents were dissatisfied with onboarding and felt undervalued, overworked and not fully equipped to help customers. The Genesys Experience Index analysis found the organization could improve its employee experience by enhancing its knowledge base and investing in employee engagement strategies and technology to improve its culture.
"For decades, companies have had useful ways to measure individual interactions, but tools to understand total experience — over a series of connected activities and objectives — have been non-existent or imprecise," said Sheila McGee-Smith, president and principal analyst at McGee-Smith Analytics. "After years of research, testing and fine-tuning, Genesys is delivering the Experience Index, pioneering an approach that allows organizations to tap into the exact insights they need to improve any experience from beginning to end. With this new offer, Genesys is helping companies create strategies to solve a perennial contact center industry problem: employee turnover. Experience Index gives organizations a tailored, industry-specific solution to gain new levels of visibility so they can improve agent satisfaction and engagement, leading to improved customer experience."
The Genesys Experience Index is available now to organizations in the US, Europe, the Middle East and Africa. For more information on the Genesys Experience Index for Contact Center Employees visit the AppFoundry®.
Source: Press Release
