LX + EX = CX The New Formula for Business Success!!
LX = Is the perception that employees have about their management team which is
directly related to their managers’ leadership capability (at all levels)
EX = Is the perception that employees have about their employer which is directly
related to their level of employee engagement
CX = Is the perception by customers of their interactions with an organisation which is
directly related to the level of customer service
Leadership Experience + Employee Experience = Customer Experience
It seems like a simple equation and it is but what does it really mean? The terms EX and CX are commonly used in today's changing world. Companies are constantly looking to investigate their customers' journey and work on optimising this at every touchpoint to create a seamless customer experience (CX). Whereas EX takes a holistic view across the whole employee lifecycle and determines how an organisation's processes, environment and culture can be enhanced to improve loyalty and employee engagement.
LX, however, is a new term and is used to define the experience your employees are left with when they receive outstanding leadership. LX has no correlation to the tenure of a manager - just because they have been in a leadership role for a long time does not mean that they are providing an excellent leadership experience.
So what makes a great Leadership Experience?
Well you don't have to have people management responsibilities to provide exceptional leadership. Leadership can be fostered at any and every level of the organisation and every employee has the ability to display acts of true, and sometimes courageous, leadership.
What makes a great leadership experience is the ability to craft trust in people and influence them with your knowledge and capability. Great LX starts by building strong relationships and creating a comfortable environment for people to contribute their full potential.
A saying we love at MultiRater Surveys is:
“When I meet a great manager I know how important they are
When I meet a great leader I know how important I am!”
At MultiRater Surveys we have built our platform on the philosophy that if you improve leadership capability at all levels across your organisation (not just at the senior executive level); you will improve employee engagement and your employees working experience.
And this is where we get back to our original equation:
- By improving Leadership Capability,
- You will improve Employee Engagement
- By improving Employee Engagement,
- You will improve Customer Satisfaction
- By improving Customer Satisfaction,
- You will improve organisational revenue and profitability
Think of any situation where you have interacted with a business, that interaction has or did have a human touch somewhere across the journey. If the employee responsible was highly engaged then you are assured that touch point would be executed with maximum capacity.
The most effective way to facilitate this equation is to provide constructive leadership and performance feedback and then act on this feedback to improve organisational outcomes. MultiRater Surveys has built a library of effective employee and client feedback templates and has also developed three NPS questions to further evaluate the three metrics.
- LNPS- Used to measure the trust of your leaders and weather your employees would endorse their leadership capability
- ENPS - Used for measure whether your employees would recommend your company as an amazing place to work
- CNPS - Used to measure customer loyalty and whether customers would recommend your product or service
NPS or Net Promoter Score utilises an algorithm with a rating scale of 0-10. Scores 0-6 (Detractors) are subtracted from scores 9-10 (Promoters) to give you an overall score between -100 and +100. Positive scores indicate your company has more promoters than detractors therefore a score above a 0 is classified as good, and anything above 50 should be a goal.
If you want to measure and improve in any of these three metrics then sign up for our 14 day free trial here and one of our consultants will be in touch to help you optimise this important process.