THE EXPERIENCE ECONOMY - THE FUTURE FOR EVERY BUSINESS OPERATING IN A CONNECTED WORLD - PART ONE

A simple definition of an Experience Economy is that businesses must orchestrate memorable events for both their customers and their employees. In other words, the “experience” itself becomes the value proposition not just the product/service consumed by customers or the remuneration package of the employee.

In fact, the notion of Experience goes on to emphasize that satisfying the Employee Experience (EX) will ultimately lead to a desirable Customer Experience (CX) which, in turn will ensure the success of any organization in the Experience Economy. In addition, if EX does not equal CX the executives of the organization will need to re-invent the organization’s culture. 

CX applications have for the most part met the desired satisfaction expected by consumers. CX applications are seamless, requiring a single log-in and offers the user a variety of functions and tools in a single pain of glass, which are all interlinked facilitating a seamless consumer engagement with the organization in an extremely effective and efficient manner. However, unfortunately, the same cannot be said for the employee. 

With the forced “Work at Home” environment brought on by the CoVid 19 pandemic, the digital noise created by organizations in an attempt to enable employee engagement with the organization - remotely - has proven, in most cases, to be counterproductive and most definitely does not meet the desired user experience employees require in order to be productive and feel that they are offering value to the organization. 

Citrix - in a recent webinar with Bright Talk  - part one - Experienced Economy  suggests "the challengers facing industries in dealing with the New Working Norm and offer valuable insights as to how to devise solutions using advanced technologies in achieving a satisfactory EX."

To get employees to embrace the EX the following will need to be taken into consideration:

1. The components of EX which includes productivity and engagement.
2. The need for EX = CX, thus using the same policies and procedures in developing the CX when developing an EX strategy. In other words, to reduce the digital noise employees are being bombarded with.
3. EX to be spearheaded by HR and top management rather than the IT Department.
4. Training – the need to offer comprehensive training for all new technologies deployed.
5. The New Working Norm is here to stay, and remote working is going to be the standard rather than the exception. Germany has table draft legislation, The Mobile Work Act, that aims to allow home office or working from home to become law , enforcing a minimum of 24 days of “Work at Home” per year without the need for negotiation with the employer, even after the pandemic ends.
6. Employee wellbeing needs to be at the forefront of all organizational strategic planning for the future.
7. The type of technologies that are available and the importance of keeping the process as simple as possible, such as a single sign on, the use of micro applications where the sum of the parts makes the whole, the benefits of transformation to the Cloud and the Zero Trust Security protocols in safe guarding the organizations network.