The Human Capital Experience Economy: What Does It Look Like?
Would you pay more for a good experience? Would you be more likely to come back again? You probably already do. We live in a world where experience trumps everything – including cost and quality. According to a study by the White House Office of Consumer Affairs, 80% of US consumers would pay more for a product or service to ensure a superior customer experience. It is the experience that gives companies a competitive edge even when their products fall short. It creates loyalty and a powerful commitment to a certain company or brand.
Companies recognize the impact of experience on their growth and profitability and are making changes to how they communicate with, engage, and support their customers. In fact, according to Aptitude Research Partners’ 2016 Hire, Engage, and Retain research, 60% of companies have an executive level customer experience role in place. But, creating an engaging experience does not and should not end with the customer. It must extend into our workforce. Surprisingly, only 37% of companies have an executive level role focused on the internal culture and experience of the workforce. Just as companies are prioritizing customers, they must also focus on the experience for the individual candidate, employee, manager, contingent worker, and leader in order to ensure continued economic success.
The elements of this important balance are at the core of Aptitude’s new Human Capital Experience Economy model- take a look here: