Customer Experience, CX Strategies, HR

HR heads who are not aligning themselves to CX strategies would definitely fail.

When organizations don’t embed CX into key HR processes like hiring, training, and rewards and recognition, they miss a prime opportunity to foster an environment that enables employee CX success.

While it may seem counterintuitive, any organization that wants to deliver a great customer experience shouldn’t focus on its customers first, but rather on its employees. Engaged employees are valuable assets, and they trigger a virtuous cycle that drives great customer experiences, leading to more loyal customers and stronger financial results.

Yet despite research showing that more than 70 percent of companies have an ongoing commitment to significant employee engagement efforts, the level of employee engagement inside companies did not change between 2017 and 2018. One of the reasons companies struggle to engage employees is that their HR department does not participate enough in these efforts. In fact, when we work with large organizations, we often find that the HR groups haven’t fully embraced their role in either the company’s customer experience or employee engagement efforts, and that disconnect matters! When an HR group is significantly involved in an organization’s CX efforts with employees, the company is four times more likely to deliver a customer experience that is significantly above average in its industry.

For companies that want to deliver a great customer experience, employee engagement is not optional.

 

  • Customer centricity is getting more attention. HR professionals not only indicated an increase in the belief that their companies need to become more customer-centric; they also reported higher levels of participation in this change. The percentage of HR professionals who responded that they are significantly helping their organizations become more customer-centric doubled over the past four years from 15 to 31 percent.
  • HR is finding niches for CX collaboration. Six out of 10 HR respondents felt they were at least considerably involved in their company’s CX efforts, with HR leading the work in adjusting hiring and recruiting practices. When it comes to HR and CX teams working together, they are most successful in incorporating CX into training and onboarding and developing measurements and incentives to reinforce good customer-centric behaviors.
  • HR has more time and wants more CX outreach. When it comes to the obstacles that impede HR professionals’ ability to help their companies become more customer-centric, the obstacle that dropped the most the last four years is HR professionals not having enough time. The only obstacle that increased over the last four years, coming in as the second most common obstacle, is that the CX organization has not engaged HR.

Finding Ways for HR and CX to Work Together

There are many opportunities for HR and CX to work together, especially in the existing processes and activities that the HR organization manages for the company. Here are a few specific opportunities for CX/HR collaboration:

  • Hiring and onboarding. CX and HR professionals can collaborate on ways to screen individuals for the attitudes and abilities needed to deliver on the company’s CX vision.
  • Training and development. CX subject matter expertise and instructional design skills are often divided between the two departments. CX pros can work shoulder-to-shoulder with HR to contribute the required knowledge to design and deliver training to help employees become more customer-centric.
  • Performance management. Many organizations put a lot of energy into defining what they want to accomplish, but don’t adequately define how employees need to act in order to achieve those objectives. CX and HR can work together to ensure that employee goal setting and evaluation processes include role-specific expectations or measures of success that connect employees’ efforts to the CX strategy.
  • Rewards and recognition. When embarking on CX change, it’s important for the company to examine how it recognizes and rewards employees. CX and HR teams can make sure the desired employee behaviors are reinforced with the appropriate formal reward programs, peer-to-peer recognition opportunities, and team celebrations.

The bottom line is that unengaged employees don’t create engaged customers. Now is the time for the CX and HR teams to come together to engage employees in the company’s customer experience efforts.

 

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One of the top 3 investments for any business to thrive in the future is to setup people, processes and technology to build world class customer experience. 

About the event : agenda

  • 2:00pm – 2:20pm – open networking
  • 2:30pm – 2:40pm – introduction by Paritosh Sharma, Founding Partner, TAG Advisors
  • 2:40pm – 2:55pm  – Why is CX critical for business growth, Deepak Kashyap, Co-founder and CEO, DialDesk
  • 3:00pm – 4:30pm – How CX creates billions in value (pane discussion)
    • Deepak Kashyap, Co-founder and CEO, DialDesk
    • Anil Porter, A.V.P. IT & GDS Services, ITQ
  • 4:30pm – 5:00pm – Q&A
  • 5:00pm – open networking

Registration

 

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Customer Experience is a business critical conversation that no business can afford to miss. This was clear at the ‘customer strategies summit 2018’ by CRM Academy Of Asia.

At the onset we thank the team at CRM Academy Of Asia to invite the team from CXREFRESH. Feel free to check tweets from the event with #CSS18 and follow @crm_asia

The conversation that ruled at #CSS18

The event brought together industry leaders that are championing CX at their organisations with technology, content, storytelling and deeply understanding the overall customer journey. The most riveting conversation was around the use of new age technology and digital tools to “listen to the customer faster” and create interventions that create a powerful and more engaging customer experience.

A strong emphasis was on how businesses of all nature are being impacted by the sheer pace of digital transformation. The speakers shared their insights on how they are using a mix of technology and human intervention to create world class customer experience for their customers.

“We listen to our customers on social media and have put in place technology that touches them across all experience points when they check-in to our hotels and otherwise”

 – Soumonath Chatterjee, Director of Loyalty, Customer Experience and Distribution, India and South Asia, Accor Hotels

“Make your customers your cheerleaders by creating a customer driven brand”

 – Krishnan Chaterjee, SAP

“You must make efforts to create deep and meaningful relationships with your customers. There will always be gaps, but a great relationship will always lead to a great experience”

 – Rajiv Gupta, Founder and CEO, Next Inc.

The Customer Strategies Summit 2018 established strongly the ever changing world around us. Customers have ever increasing access to more information and their expectations are evolving.

We absolutely enjoyed our participation at the #CSS18 and we will take our relationship with CRM Academy Of Asia to new levels to bring CXREFRESH Leadership Workshops to the world.

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FinTechs have made incremental gains and are reaching and engaging a critical mass of bank-first customers. FinTechs are setting new standards for innovation and customer experience. Around the world banks are reviewing their branch expansion plans. This has far and deep reaching impact on hiring, investing in technology and more.

The banking industry has been slow to evolve. FinTech industry’s stellar growth proves the fact that the customers were ready for a better experience. They hence became FinTech customers first.

FinTech’s provide superior experience

FinTech’s are tech-first companies. While they build over the backbone of the banking industry, they are able to win customers a lot faster. Because they focus on the customer first. Their core focus is on building a phenomenal end customer experience to be more valuable over the banking layer.

What has been disrupted : payments and lending

There are examples around the world. PayPal, PayU, Stripe, PayTM, Apple Pay, Samsung Pay and so many other FinTech companies that started as pure play payments companies. Many of them have now diversified to be FinTechs that have built solutions for lending and other banking transactions.

The volumes of transactions happening via the FinTech applications have risen sharply especially in emerging countries. While there has been a considerable traction in the US, in China and India these numbers quadrupled in terms of new customer adoption growth rate.

What is driving this fundamental shift which cannot be ignored anymore?

Customer experience (CX). The asset that FinTech’s are investing in is CX. They are using data modelling, front-end technology, AI, ML and the old-school customer interactions to understand customer behaviour and choices. 

This investment in CX is creating billions of dollars in value.

DialDesk research insight

We strongly believe that CX is the fundamental foundation for absolutely every business to remain relevant in the future. The future that we are discussing is not the next decade. Infact this future in many ways has arrived already.

Great customer experience in banking can be worth millions – Forrester

At DialDesk we are advising businesses to create innovative CX solutions and win customer loyalty, trust and increase retention and referral.

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