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 serviceLeadership 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
- 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