Employees

Employee Ownership: Boosting Customer Satisfaction

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Employee Ownership

Employee Ownership (EO) is more than just a business model. It’s a proven way to elevate employee engagement and drive customer satisfaction. But how exactly does this structure impact the customer experience (CX), and why should businesses consider it?

In this blog, we’ll explore the powerful connection between EO, employee engagement, and CX, and share insights on how companies can harness this model to deliver standout service and build lasting customer loyalty.

Table of contents:

What is Employee Ownership?

Employee Ownership is a business model where employees hold a significant stake in the company they work for. According to the Employee Ownership Association, there are 1,650 EO businesses in the UK. Each business can tailor the format of its EO to its unique requirements. The three main types of EO are:

  • Direct Ownership
  • Indirect Ownership
  • Combined (Hybrid Ownership)

The Employee Ownership structure fosters a culture of collaboration and shared responsibility, resulting in a more engaged workforce. When employees feel invested in the success of the business, it’s no surprise that they become more motivated to provide excellent customer service which can lead to a better customer experience.

Research shows that businesses with high employee engagement consistently report higher customer satisfaction scores. When employees feel like stakeholders, their dedication to delivering exceptional service naturally grows—impacting customer loyalty, repeat business, and even profitability. For more about EO, visit the Employee Ownership Association.

How Does EO Impact Customer Experience?

Employee Ownership doesn’t just benefit employees—it significantly boosts the customer experience too. Engaged employees are more likely to go above and beyond to meet customer needs. The reason? Employees have a vested interest in the company’s success.

EO businesses regularly outperform non-EO peers in almost every metric – they’re 8-12% more productive and invest more in their people, innovation, and communities. 

At insight6, we’ve seen this firsthand with our instant insight feedback tool, which allows businesses to gather real-time insights from customers and employees alike. By collecting feedback from engaged employee owners, companies can identify areas for improvement and implement changes quickly. As a result, these businesses tend to create a better, more responsive customer journey, ensuring customer needs are met at every touchpoint.

Why Does Employee Experience Matter for CX?

The link between Employee Experience (EX) and Customer Experience (CX) cannot be overstated. Happy employees lead to happy customers—it’s that simple. We explored this concept in a previous blog on the ROI of Employee Well-Being. When employees are well taken care of, they’re more likely to create positive experiences for customers.

Employee Ownership naturally lends itself to higher levels of employee satisfaction. When people feel valued, they become more enthusiastic about their work, which translates into improved interactions with customers. But, as we’ve discussed before, it’s not just about customer satisfaction; it’s about building loyalty, a true differentiator in the modern market.

How Can You Measure the Impact of EO on CX?

Understanding the impact of Employee Ownership on CX isn’t just about instinct—it’s about data. Tools like our instant insight allow businesses to measure customer satisfaction and employee engagement in real time. With the right feedback and metrics, businesses can pinpoint what’s working and what needs improvement, making data-driven decisions that keep customers coming back.

For EO companies, measuring both employee and customer feedback is crucial. As we explored in our post on the cost of bad employee experience, poor employee engagement can lead to a breakdown in customer satisfaction. However, by regularly monitoring feedback from both groups, EO businesses can maintain a strong connection between their workforce and customers, ensuring continued success.

What’s the Difference Between Customer Satisfaction and Loyalty?

While customer satisfaction is important, true success lies in building customer loyalty. Employee-owned businesses often have an edge in this area. Why? Because loyal customers aren’t just happy—they are advocates. They refer new customers, spend more, and stay with a business longer. Our focus and listening groups help businesses get to the heart of what keeps customers coming back, or what can be improved.

EO businesses naturally encourage customer loyalty because engaged employees provide a level of care and service that goes beyond the ordinary. By aligning employee incentives with customer outcomes, EO businesses can build stronger, longer-lasting relationships with their clients.

How Can Employee Ownership Elevate CX Further?

To truly maximise the benefits of Employee Ownership, companies need to continuously invest in their workforce. At insight6, we offer training and development, mentoring and coaching, and team upskilling to ensure employees—whether owners or not—are equipped to deliver world-class customer service.

insight6 CEO to speak at Employee Ownership Conference
Discover the secrets of customer experience (CX) and transform your business with global CX leader, Jonathan Winchester of insight6

It’s not enough to just own a stake in the company; employees need to feel empowered and skilled to take action. By embedding a culture of learning and improvement, EO companies can ensure that their teams are always growing, always improving, and always focused on providing the best possible customer experience.

Conclusion: Employee Ownership and CX—A Winning Combination

Employee Ownership and Customer Experience go hand in hand. When employees are engaged, customers benefit. And when customers are satisfied, businesses thrive. But to unlock the full potential of this synergy, companies need to invest in the tools, training, and strategies that keep their people—and their customers—happy.

Interested in learning more about how Employee Ownership can elevate your CX strategy? Or looking for ways to improve customer satisfaction through employee engagement? At insight6, we’re here to help. To find your local CX Specialist, call +44 (0) 800 970 8987 or visit www.insight6.com.

Like what you’ve read? Sign up for the insight6 newsletter to stay ahead of the competition with the latest insights and strategies to enhance your customer experience.

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How Happy Employees Create Happy Customers

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Happy employees. The synergy between EX and CX.

Happy employees are essential for delivering exceptional Customer Experience (CX). The connection between Employee Experience (EX) and CX is undeniable in today’s business landscape. Here, we explore how improving employee satisfaction can lead to better customer outcomes, increased loyalty, and overall business success.

Table of Contents:

  1. How do happy employees improve customer experiences?
  2. How can employees better understand their role in CX?
  3. How does improving well-being and fostering happy employees boost ROI?
  4. How can you measure the employee experience?
  5. What are the signs of poor EX, and how does it impact CX?
  6. How can you align your strategies to create happy employees and exceptional CX?

How do happy employees improve customer experiences?

Happy employees are more engaged, motivated, and attentive to customer needs. When employees feel valued and appreciated, they naturally transfer that positive energy to the customer experience. Happy employees deliver better interactions, quicker problem-solving, and a more pleasant experience for the customer.

According to research, businesses with happy employees achieve higher customer satisfaction as employees are likelier to go above and beyond for customers. Salesforce reports that 80% of customers view a company’s experience as equally important as its products and services.

How can employees better understand their role in CX?

Employees who understand their role in the customer experience are better equipped to deliver exceptional service. Training and communication are key here. Regular training sessions focusing on customer interactions, feedback, and company values help employees understand how they contribute to CX.

Leadership should reinforce the importance of every role in the customer journey. When employees see how their efforts impact the customer experience, they feel more invested in their work and motivated to improve their service.

How does improving well-being and fostering happy employees boost ROI?

Investing in employee well-being does more than just boost morale—it also significantly impacts your bottom line. Happy employees are more productive, stay longer with the company, and are less likely to take time off due to burnout. An engaged workforce reduces recruitment and training costs while boosting overall efficiency.

Happy Employees Tip Sheet

Download our free Employee Well-Being Tip Sheet: ROI Tips for Employee Well-Being

When employees feel supported, they are more likely to provide excellent customer service, improving customer retention and loyalty. This cycle of employee satisfaction leading to customer loyalty is a proven way to increase revenue and profits.

To learn more on how happy employees drive business success, read our blog post – ROI Of Employee Well-being: How To Drive Business Success.

How can you measure the employee experience?

Measuring the employee experience is critical to understanding what is working and where there’s room for improvement. Employee surveys, feedback loops, and one-on-one meetings are all valuable tools to gauge employee satisfaction.

Metrics such as eNPS (Employee Net Promoter Score) or employee engagement scores can give insight into how well your team is performing. Regularly measuring and assessing EX helps companies quickly identify problems and take action to resolve them before they impact the customer experience.

It’s essential to have the right tools in place that provide real-time insights to measure the employee experience effectively. Our instant insight system is a total feedback solution that analyses feedback from your customers and team in real time. Unlike other systems, instant insight is backed by local experts who ensure the right surveys reach the right people every time, delivering instant support without the need to search online for answers.

“We use instant insight to identify how we can improve the experience for our customers. The customers love it and so do the team and what is more, the system has developed numerous TripAdvisor Reviews. It is a fantastic feedback tool.”

Heather Parry, Managing Director, Great Yorkshire Showground

What are the signs of poor EX, and how does it impact CX?

A poor employee experience can lead to disengagement, high turnover rates, and burnout, directly impacting the customer experience. Disengaged employees are less likely to invest in customer satisfaction, which can result in negative interactions and lower customer loyalty.

Warning signs of poor EX include high absenteeism, low morale, and a lack of enthusiasm for work. Addressing these issues as soon as they arise is crucial for maintaining high customer service and satisfaction.

To discover more about the financial implications of a bad employee experience, read our blog post – The Cost of Bad Employee Experience.

How can you align your strategies to create happy employees and exceptional CX?

Aligning your EX and CX strategies begins with understanding that the two are deeply connected. Start by ensuring that leadership prioritises customer and employee well-being equally. Create a workplace culture that values employee and customer feedback and ensures that this feedback is acted upon to drive improvements.

Offering clear career development paths, investing in training, and fostering open communication can create an environment where employees feel valued and motivated to contribute to the business’s success. When employees are happy, they are more likely to ensure customers are happy, too.

To explore the impact of leadership on the employee experience, read our blog – One Simple but Essential Thing Leaders Can Do to Improve Employee Engagement.

Conclusion: Creating Synergy for Success

Happy employees lead to happy customers, which ultimately drives business success. When companies invest in their employee experience, they create a foundation for exceptional customer service and long-term profitability. By aligning your EX and CX strategies, you can create a thriving, loyal workforce that helps your business stand out in a competitive market.

If you’re ready to improve both your EX and CX, insight6 can help. Our tailored solutions focus on employee well-being, customer journey mapping, and real-time feedback to ensure your business delivers world-class customer experiences. To find your local CX Specialist, call +44 (0) 800 970 8987 or visit www.insight6.com.

Like what you’ve read? Sign up for the insight6 newsletter to stay ahead of the competition with the latest insights and strategies to enhance your customer experience.

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ROI Of Employee Well-being: How To Drive Business Success

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Mental health-related workplace absence is rising, leading to rising costs for UK businesses. Unhappy employees are often disengaged, which impacts their work and, ultimately, the company. Conversely, happier, engaged employees are more productive and deliver better service. Here, we explore the importance of employee well-being and how asking and acting on feedback will boost ROI, driving business success.

Table of contents:

Who benefits from investing in employee well-being?

Investing in employee well-being benefits everyone involved. Your employees are the heart of your company, and their happiness directly influences productivity and customer service, driving overall success.

Undeniably, workplace stress is a significant factor in absenteeism, affecting both short- and long-term outcomes. Did you know that 39% of European workers experience negative emotions daily? Undoubtedly, this emphasises the pressing need to address workplace stress.

The prevalence of stress in the UK is alarming, with 9 in 10 adults reporting high or extreme stress levels in the past year. Consequently, this highlights the urgent need to implement measures supporting employee well-being and alleviating workplace pressures.

Corporate burnout, often glamorised as a symbol of dedication, undermines employee well-being. Unquestionably, prioritising quality over sheer hours worked is crucial for maintaining a healthy work environment.

Prioritising the employee well-being isn’t just about compassion—it’s a strategic imperative. A supportive workplace culture can empower employees to thrive, increasing productivity and overall business success. The one simple (but essential) thing leaders can do to improve employee engagement is check in with their staff to see how they feel.

How does a bad employee experience impact ROI?

A poor employee experience can significantly impact ROI, productivity, retention, and overall business success.

Gallup’s State of the Global Workplace: 2023 Report reveals most (59%) of the world’s employee’s are “quiet quitting”. Therefore, these employees are filling a seat and watching the clock rather than fulfilling their potential. Moreover, according to Gallup, low engagement costs the global economy £6.9 billion, accounting for 9% of global GDP. On the other hand, low-engagement workers present a significant opportunity for economic growth.

Did you know that the Europe has one of the lowest percentages of engaged employees, with only 13% reported as actively engaged? However, 72% of workers in the regional percentage are disengaged. Additionally, 15% are actively disengaged. These employees take actions that directly harm the organisation, undercutting its goals and opposing its leaders.

Amidst companies grappling with supply issues and staffing shortages, a bad employee experience can significantly harm the customer experience (CX). In our blog, “Employee Experience: The High Cost of Getting it Wrong,” we look into the high cost of this issue.

According to the Institute of Customer Service, several service issues cost UK firms £9.24bn monthly in complaints handling. Therefore, a hostile work environment affects employees and damages the company’s reputation and customer satisfaction.

Conversely, companies that invest in their workforce and deliver a positive employee experience reap the benefits. Studies show that companies with highly engaged employees experience a 10% increase in customer satisfaction and a 20% increase in customer loyalty.

When is the right time to prioritise well-being?

There isn’t a single perfect time to prioritise employee well-being; it should be woven into a business’s culture to genuinely care for and nurture a workplace environment. However, critical moments such as welcoming new team members or expanding your workforce offer particularly opportune times to emphasise this focus. Nonetheless, it’s never too late to do so.

The global pandemic has caused unprecedented disruptions in the workforce. Remote work is becoming more common, and the need for connection is becoming even more pronounced.

Many employers tried their best to implement certain benefits and support. However, according to Mercer, there’s a notable difference between employers’ beliefs about their benefits and employees’ actual experiences. While 89% of organisations think their benefits adequately supported employees during the pandemic, only 64% of employees feel the same way. This highlights the need for improved communication and benefits delivery. Moreover, it’s crucial to gauge employees’ real-time feelings to address their needs swiftly.

At insight6, we partner with organisations to obtain real-time actionable insights using our innovative online feedback tool, instant insight. By empowering employees to feel valued and listened to, we enable them to focus on tasks that drive impact, ultimately increasing sales, customer loyalty, and profitability.

Where can I find resources to support my employees?

You can find resources to support your employees from various sources, including non-profit organisations like The Stress Management Society and Mind Mental Health Charity, which offer guidance and assistance in recognising and reducing stress. Here at insight6, we can help by providing an online tool to obtain employee feedback, check in on well-being and provide training and development workshops to enhance employee experiences.

Additionally, don’t overlook internal resources such as your HR Department, outsourced suppliers, and Employee Benefits Specialists who can offer tailored solutions and support programmes. Occupational Health Services and Employee Assistance Programs (EAPs) also provide valuable assistance for both physical and mental well-being. Accessing these diverse resources ensures comprehensive support for your employees’ needs.

How do you measure the ROI of employee well-being?

Measuring the ROI of employee well-being can be done through various approaches.

Financial Metrics: To measure ROI, analyse reduced healthcare costs, decreased absenteeism, lower turnover rates, and increased productivity. Quantify and compare these metrics against the investment in employee well-being programmes.

Employee Surveys: Regularly survey employees to gauge satisfaction, engagement, and well-being. Compare survey results before and after implementing well-being initiatives to assess impact and ROI.

Productivity Metrics: Evaluate productivity changes, such as increased output, improved quality, and reduced errors, to gauge employee well-being’s ROI. Track these metrics over time to identify the impact of well-being programmes.

Employee Retention: Monitor employee retention rates pre-and post-implementation of well-being initiatives to determine ROI impact.

Absenteeism and Presenteeism: Track absenteeism rates and measure the impact of well-being programmes on reducing absenteeism. Additionally, presenteeism must be assessed to determine the effectiveness of well-being initiatives.

Get your FREE ROI Tips Employee Well-being Sheet today.

By integrating these measurement strategies, organisations can unlock the true ROI of employee engagement initiatives. Equally, with valuable insights, you can confidently make data-driven decisions to bolster well-being and propel your business forward.

How do I develop an employee engagement plan?

Putting employee well-being and engagement first is crucial for businesses aiming to stand out, attract new customers, and secure long-term success.

  1. Assess your current situation. Conducting surveys, hosting focus groups, or reviewing performance feedback to understand where you are right now.
  2. Set clear goals. Defining objectives is vital, whether you’re enhancing communication, nurturing a positive work culture, or developing your career.
  3. Create specific strategies and initiatives. Think of regular team-building activities, professional development opportunities, or refining communication channels.
  4. Involve your employees every step of the way. Their input and feedback are invaluable in shaping and refining your engagement plan.
  5. Review and refine. Regular monitoring and evaluation ensure you can make necessary tweaks for continuous improvement and success.

As a UK-based customer experience company, we’ve witnessed firsthand the profound influence of employee engagement on customer interactions and brand reputation. Furthermore, engaged employees are vital for delivering exceptional products and services.

Understanding your employees’ perspectives is crucial. Our total online feedback solution, instant insight, provides a seamless and affordable method for collecting and analysing feedback from your team and customers. By collaborating with insight6, you can gain invaluable insights to develop a plan for employee engagement and drive business growth.

Using instant insight, you will:

  • Gather employee feedback effectively.
  • Collect customer feedback efficiently.
  • Gain real-time analysis and reporting.
  • Obtain actionable comments promptly.
  • Improve products and services based on insights.
  • Benchmark against competitors quickly.
  • Boost positive online reviews.
Discover the power of feedback with instant insight from insight6.

Conclusion: The impact on ROI

Investing in our employees’ well-being is imperative, not optional. Furthermore, prioritising their welfare and enhancing the employee experience strengthens resilience, elevates job satisfaction, and directly impacts operations, leading to increased profitability and ROI. By partnering with insight6, you’ll gain invaluable insights into factors shaping your employee experience and strategies to enhance it for business success. Don’t let the cost of stressed or disengaged employees affect your bottom line. Contact us today for a no-obligation chat or request a demo of instant insight to see how we can revolutionise your business!

Like what you’ve read? Sign up for the insight6 newsletter to stay ahead of the competition and receive the latest insights and strategies to enhance your customer experience.

Sign-up for the insight6 newsletter to stay ahead of the competition and receive the latest insights and strategies to enhance your customer experience.

Which Wolf Are You?

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You will have seen this photo before I’m sure.

The interpretation that goes with the image goes along these lines:

The three wolves in front are old and sick, walking in front to set the pace of the group lest they get left behind. The next five are the strongest and fittest, tasked with the role of protecting the whole group. The largest pack in the middle are always protected from any attack. The last group are also among the strongest and fittest; positioned to protect the group from the back side in an attack.

The last wolf is the leader. He ensures no one is left behind. He keeps the pack unified and on the same path. He is always ready to run in any direction to protect and serves as bodyguard to the whole group. Symbolic of the theory that true leadership is not about being out in front and being the visible leader.

It means taking care of the team.

Sorry to destroy the myth, but this story is just a modern fabrication of one theory of animal behaviour. No-one knows the source and, likely, there is some truth to the theory. Animals have innate behaviours developed to protect the whole pack. Like tribal behaviour in many ancient cultures, and some modern, this team mentality is not just an attitude, it is platform upon which all other actions and behaviours are developed.

Drawing parallels to modern day business, where do you place yourself in the line of wolves? In large businesses, the front running team are often the directors, management and investors; older, slower, less in touch with modern technologies, removed from what is actually happening at other levels. These people feel like leaders, behave like the leaders their icons and predecessors did and rarely look back.

The second group could be likened to middle management, tasked with following the leaders closely whilst also trying to manage the group behind. This group are often too busy to develop their own skills or find time to train, learn and develop new ideas as they feel pressure from the leaders to implement their policies.

The largest group comprises the workforce, the main hub of activity in terms of productivity; heads down, meeting deadlines and fulfilling projects, this group of employees IS the business.

The last group are the disenfranchised members of the business. Those who once ran fast to try to catch up to the first pack to share ideas and offer new ways of doing things but were told to ‘get back in their box’. The last group are the ones who are looking for an exit; tired of not being valued or appreciated.

Are you a leader running out in front, pulling the team along without looking back? Are you the leader who runs with the team or the middle management? Or are you at the back of the pack keeping the last group included and valued?

Is it time to rethink your version of leadership?

Being a great leader is not always measurable. You can Google the top ten traits of great leaders and easily arrive at the usual lists. But being an AMAZING leader is more than that – it is being different, being relatable and tuning in to the unique circumstances that make up your own individual business.

Our One Recommendation For A Leadership Check

There is one simple rule when it comes to checking that you are developing into a great leader; ASK others. Ask your team, ask your clients, ask your peers. You will be on a networking group or business development group, of course, so ask your peers.

Do a survey with your whole team and ask for honest, anonymous feedback.

If you do not ask for feedback, how can you know what people really think? Do not assume, if you have been in your role for a while, that you know what you are doing and that you are right. Do not be deluded by ego or ignorance.

True leaders have one thing in common – the ability to reflect. It is only by asking questions, of yourself, of procedures and of industry, that you can improve and find success.

Which wolf are you then? And is your place in the pack valued and effective? Ask the question and be prepared to change. You may be surprised at the response.