A new national survey of U.S. financial services workers from Eagle Hill Consulting finds that less than half (48 percent) say that their organization places a great deal of importance on employee experience and satisfaction. The research also finds that most financial services workers (62 percent) say that the employee experience positively impacts their ability to serve customers.
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“A direct path to creating the best customer experience in financial services is improving the experience of employees at work,” says John Boochever who leads the Financial Services practice for Eagle Hill Consulting. “But many employees of financial services firms say that isn’t happening. Rapidly evolving trends in customer service expectations, largely driven by digital on-line trends and the pandemic, risk overwhelming front-line employees.”
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“It’s more important than ever for financial institutions to focus on the employee experience. Financial services companies face serious competitive challenges at a time when employees are feeling burnt out and resigning from their jobs at historic levels. Failure to prioritize the employee experience will result in even higher rates of churn and ultimately harm customers’ experience,” Boochever said.
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