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Why engaged employees mean higher revenue for retailers?

SEPTEMBER 12, 2022
Why engaged employees mean higher revenue for retailers?

Every company aims for sustainable revenue growth, there is no doubt. While revenue is still the ultimate goal, businesses have shifted their focus to provide better customer experience, which will eventually lead to better revenue. According to Gartner, just a decade ago, %36 percent of companies were competing primarily on the basis of customer experience. Today it is as high as %89. Since the customer experience is a top priority for businesses, employee engagement paves the way to achieve it. It’s even more notable for retailers where there is a direct relationship between customers and employees.  

Today, 89% of companies are competing primarily on the basis of customer experience

Customers have many touchpoints where they directly or indirectly encounter a retail brand. Throughout those touchpoints, the clearest way to keep your customers is to continuously deliver fantastic in-store experiences. Following a positive in-store experience, 83% of customers are inclined to visit your store again, increasing customer loyalty and financial performance in the long run.  So, what will be the driving force of your customers to choose you instead of your competitor? 

Companies that succeed at customer experience have 60% more engaged employees

The pathway to provide a good in-store experience goes hand in hand with engaged employees. Customer loyalty is the direct result of shopping experience, which is ultimately provided by your employees. They are the key interaction points. Studies back it up. Companies that succeed at customer experience have 60% more engaged employees. Businesses with engaged employees are 21% more profitable. In other words, engaged employees provide the customer experience that is needed for increasing revenue. 

Your retail brand’s largest and most valuable brand ambassadors are its employees. They are the ones that attend to your customers’ needs and provide the “smooth-sailing” service to the customers in stores. It will be obvious if they’re unhappy while doing that. As you are not the only company that set an eye on a specific target group, engaged employees can bring the extra mile that is needed for satisfying customer experience. Employees, in return, need to feel heard and valued in order to go that extra mile. Providing an environment that employees need matters for both large and small retailers.  Regardless of the size, any business can begin implementing and enhancing employee engagement and measuring their impacts on sustainable profitability. 

Keep your employees engaged with ICRON WFM 

ICRON WFM enables employees to have a say in their work shifts. With its user-friendly interface, they can make preferences on their shifts, swap shifts with their colleagues and submit availabilities.  

If you would like to see ICRON in action, please contact us. If you have enjoyed this blog, you can find more content that you might enjoy here.

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