We surveyed executives around the world about the state of experience management at their organizations. We detail their experience management capabilities, momentum, and more in our upcoming publication, Global Executive Study: The State of XM, 2021. In this snapshot, we examine the effect of the COVID-19 pandemic on companies’ changes to customer and employee experiences according to their executives. Some key takeaways include:
- ‘Back to normal’ is still several months away. Even prior to Omicron’s dispersion*, just one-third of executives believed that their business environments already had or would return to normal within the next 6 months. On average, they say to expect normalization in 11 months.
- Customer needs have changed significantly. Over half of executives said their customers’ needs have changed ”significantly” or “very significantly.” Japanese executives reported such a shift least frequently, while Brazilian executives reported the most dramatic change.
- Employee attrition is up almost everywhere. Executives in all countries surveyed reported that attrition was up. The exception was Brazil, where executives reported attrition 23-percentage points lower than prior to the pandemic. More than half of executives in the US, UK, Singapore, and Germany report higher attrition rates.
- It’s more important than ever to use employee and customer feedback. More than three-quarters of executives believe it’s more important to collect and act on both customer and employee feedback now compared to before COVID-19. Just four percent said using feedback is less important.
*The data used for these findings was collected prior to the emergence of the Omicron variant in November 2021.
Here are the figures in this Data Snapshot:
- Business Normalization After COVID
- COVID Impact: Changing Customer Needs
- COVID Impact: Acting on Customer Feedback
- COVID Impact: Changing Employee Needs
- COVID Impact: Employee Attrition Rates
- COVID Impact: Acting on Employee Feedback