Recent studies show that organisations with engaged employees provide customers with significantly higher experience ratings and advocacy levels. Therefore in the quest to find competitive advantage, organisations must not overlook the truism that employee experience (EX) underpins customer experience (CX) excellence, which in turn drives organisational success.
Need proof? Below shows the amount by which companies that invest in employees outperform those that don’t.
A success story: Defence Bank
Insync has partnered with Defence Bank since 2018 to understand, measure and improve the Employee and Member/Customer experience, to underpin business performance and growth. Our approach began with the below framework for understanding the inter-relationship between EX and CX, as well as the corresponding impact on productivity and innovation, and how these factors can be leveraged to create profitable growth and organisational success.
With the above framework in mind, Insync has conducted a program with Defence Bank over the last three years, ranging from strategic to tactical.
People and Culture Surveys
Insync conducts an annual employee Alignment and Engagement Survey (AES), which has driven Executive 360s and intermittent pulse surveys to monitor initiative success.
Marketing and Member Experience
Insync conducts an ongoing Member Experience Survey (MES), supplemented by Market Advocacy Studies, a Trust Index and specific qualitative projects targeting valuable segments.
The results speak for themselves
The result of this approach has been extraordinary in terms of both the improvement in stakeholder experience and the organisation’s overall achievements, including:
- Recorded its biggest loan funding year to date
- Net Promoter Score (NPS)* peaked at +54, streets ahead of the big four banks, reflecting its member focus
- Top 10% employee alignment and engagement compared to Insync’s benchmark of financial organisations
- Despite COVID-19, will meet its targets and move ahead with confidence
Defence Bank’s success epitomises how integrated CX and EX programs can transform your organisation.
*Net Promoter Score (NPS) is a registered trademark, and Net Promoter Score and Net Promoter System are service marks, of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld.
| Document Name | Category | Solution | File Type | Link |
|---|---|---|---|---|
Defence Bank’s success underpinned by EX and CX excellenceSee how Defence Bank integrated employee and member experience insights to strengthen engagement, customer advocacy and business performance. |
Case study | Employee experience |
PDF 1.68 MB |
Download View |
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