Unlocking Growth Opportunities: 4 Ways a Strong EX Strategy Enhances CX

Modern companies are investing more of their budgets on tools that create and maintain a positive employee experience. Employee experience tools and software help to assign, track and monitor work, as well as employee wellness and overall satisfaction—regardless of the employee’s location. 42% of ITDMs are researching or piloting employee experience technologies, and another 30% have rolled it out to a division or throughout the organization, according to the State of the CIO 2023 report by Foundry.

This year, majority of CEOs’ mandate also skews in favour of functional and transformational work. Almost a third (24%) of CIOs & IT decision-makers said their CEOs have tasked them with improving the customer experience and leading digital business and digital transformation, followed by strengthening IT and business collaboration (30%).

In this article, we have summarised key insights that transpired over a coffee conversation between Nick Parmar, VP, Collaboration Services & BU Head, Tata Communications and Kirti Patil, CTO, Kotak Life on how leaders are implementing transformational EX strategies that drive enhanced CX, thereby improving the overall business outcomes.

Right employees with right tools

To deliver great CX, organizations need to have the right employees equipped with the right tools. With the advent of new-age collaboration and communication platforms, tech leaders are reimagining employee engagement to enhance productivity and improve CX. Organizations are also leveraging chatbots and virtual assistants to automate routine tasks, freeing up employees to focus on delivering better CX to customers.

Kirti Patil, in her conversation shared how most of Kotak Life’s customer queries are handled by an in-house chatbot called KAYA. She also shared how Kotak has done a lot of automation using BPM and reengineered many of their processes to incentivise employees to drive productivity.

Thus, investing in the right tools can not only empower employees with the right know-how to deal with customers but also boost their overall confidence, thereby helping them to perform better.

Providing insights to CX employees

Organizations are leveraging data analytics and AI to gain insights into customer behaviour and preferences. By analysing customer data, organizations can identify patterns and trends that can help them tailor their employee engagement strategies to meet the unique needs of each customer.

Nick Parmar discussed how Tata communications provides an end-to-end Customer Interaction Suite (CIS) with a range of products that help in automating interactions through self-service and also guide customers to a skilled agent when required. Through CIS, agents are equipped with complete visibility of contextual customer data and the ability to provide better CX. He further added how this data collected can be used to engage with customers to drive personalised, empathetic and proactive interactions. It’s time for leaders to rethink the value given to CX employees to drive seamless experiences.

Modernize employee coaching and collaboration

The State of the CIO 2023 report by Foundry found that organizations are also investing in employee experience platforms that offer personalized experiences, such as customized training and development plans, feedback and recognition programs, and team-building activities. These platforms help employees stay engaged, motivated, and invested in their work, ultimately resulting in better CX.

By providing modernized employee coaching and collaboration, organizations can create a more productive and engaged workforce. Regular training to internal and external stakeholders on collaboration tools has become an important agenda for many technology and business leaders.

This can help organizations create a more inclusive and diverse work environment that fosters creativity, innovation, and collaboration.

Retaining talent and creating a workspace that employees love

Employee turnover can be a major challenge for businesses looking to deliver great CX. Therefore, it is important to retain talent by creating a workspace that employees love. By providing a positive and inclusive work environment, businesses can foster employee loyalty and improve CX. Organizations that prioritize employee experience and invest in new-age collaboration and communication platforms and solutions will be well-positioned to deliver exceptional CX that sets them apart in a crowded market.

The Conclusion

Nick Parmar believes that employees are like customers to the company. He asserted that by providing employees with the appropriate collaborative tools and creating a positive work environment, they will be more satisfied and, in turn, provide better customer experiences. In his words, “If you keep your employees happy with access to the right collaborative tools, they would, in turn, pass on the same experience to their customers.”

Reimagining employee engagement is crucial for delivering remarkable CX and enhancing business growth. “As customer expectations continue to evolve, organizations that can stay ahead of the curve and deliver personalized experiences will be the ones that thrive in the future.” concluded Kirti Patil.