Do you ever wonder how loyal your employees really are to your business? Are they actually satisfied with their jobs? Is there something they’d love to change – but they just haven’t had the chance to tell you? Would they recommend your company as a place to work?
eNPS is a metric that can give you insight into all of the questions above (and more) to help you boost employee satisfaction, improve your company environment, and even leverage your employer branding to attract quality new talent. In this article, we’ll take a look at what eNPS is, how to measure it, and why it can help improve your reputation as a great place to work.
What is eNPS?
Before getting into why eNPS makes your company an “attractive” place to work, let’s talk about what eNPS actually is.
eNPS stands for Employee Net Promoter Score. If it sounds familiar, that’s because you may have heard of Net Promoter Score (NPS) – the customer satisfaction metric that helps companies gauge how loyal customers are to their brand.
eNPS functions in a similar way by gauging not only employee satisfaction, but loyalty. By asking the question,
How likely are you to recommend this company as a place to work to others?
eNPS gives you a depth of insight into how happy employees are, what can be improved, and your company reputation.
Calculating your eNPS
To calculate your eNPS, you’ll need to categorize your survey takers:
- Employees who respond to the above question with a 9 or 10 are Promoters. They’re thrilled with working for your company, and are the most likely to boost your reputation.
- Employees who respond with a 7 or 8 are Passives. They’re not unhappy at their jobs, but their level of satisfaction could be significantly improved.
- Finally, employees who give you a 6 or below are Detractors. They’re not only unhappy with their jobs (and likely to turn over); they could do some serious reputation damage.
The formula used to calculate your eNPS is:
[# of promoters/total # of survey takers] – [# of detractors/total # of survey takers] = eNPS
Your results may range from -100 to +100, so don’t be discouraged by a score of say, 35. In fact, the average organization has an eNPS of only 14.
Ultimately, what’s important is not so much your score, but how you improve over time.
Collecting eNPS Feedback
The initial question in your eNPS survey is critical, but the “follow-up” question – Please explain your rating – is the “secret sauce.”
This is where your employees have an opportunity to share their open-ended feedback to explain their rating. This is also where you get into the good stuff–the actionable insight that can help you dramatically improve company workflows, employee experience, reputation, and employer branding.
eNPS: Improves Company Workflows
Job seekers are generally looking for companies that run smoothly. It may be the case that they left their last job because their workplace was disorganized. Or they may have been frustrated with outdated or inefficient systems (such as using paper documents or multiple channels to communicate).
In any case, you’ll want a reputation as a productive, efficient company with streamlined workflows and systems. For employees still “traumatized” by working for disorderly companies in the past, this is especially key.
eNPS can help you improve company workflows and systems by gathering feedback from your employees on how things are actually working. Whether you know it or not, your company likely has blind spots that affect how efficient (and ultimately, profitable) your business is. Given the opportunity, your team members can help you to identify and resolve those blinds spots – and help you build a stronger reputation as a well-run company.#eNPS can help you improve company workflows and systems by gathering #feedback from your employees on how things are actually working. Source: @_nailted Click To Tweet
eNPS: Gives Your Employees a Voice
If, like many companies, you are aiming to recruit millennial talent, then you’ll want to consider this: Millennials don’t want to be a “cog in the machine”; they want to feel they have a significant role in the mission and purpose of your company. In fact, millennials may even settle for a lower paycheck if their work is more purposeful.
Not only that, but millennials want relationships and partnerships with their managers and leaders. They don’t want to simply clock in and be told what to do. They want to exchange feedback and ideas. They want their leaders to invest in their personal development. As Gallup put it, they “don’t want bosses – they want coaches”.
Job seekers in the 23-39 age range also want to feel like they have a voice in your company–and building eNPS into your company processes is a concrete strategy to ensure that’s the case. Not only that, but leveraging eNPS as a part of your employer branding can show job seekers that you’re an employer that will truly value their input.
eNPS: Improves Company Culture
Finally, job seekers are looking for workplaces with great company culture. In fact, millennials value company culture more than any other generation before them, despite the fact that the idea of “company culture” has been around since the 1970s. Just as with the idea of purpose, millennials would also settle for a lower salary if it meant a better company culture – $7,600 lower, in fact.
eNPS can help you build a better company culture by:
- Giving team members more of an active role in the company, as described above.
- Encouraging frequent, honest feedback between colleagues–and management.
- Providing opportunities for team members to voice frustrations and suggest changes.
- Creating space for sharing positive recognition and encouragement.
Ultimately, eNPS can help you create a healthier, more communicative, and more positive company culture that will attract–and retain–great talent.
eNPS: Results in Higher Employee Satisfaction
Finally, eNPS can result in higher employee satisfaction – creating not only a more positive environment and improve productivity, but lower employee turnover. Given that high turnover can drive away talent (and damage your reputation), high employee satisfaction should probably be your primary goal when it comes to building your employer branding.
Leveraging eNPS as a part of your branding helps to ensure prospective team members that your company is committed to employee satisfaction – and are willing to make changes to improve their experience.
Collecting eNPS with Nailted
By now, you’ve learned that eNPS could be a powerful key for attracting talent to your company. You’ve learned how it can be used to improve your company workflows, culture, and employee satisfaction – and help you build not only a better reputation, but a better business.
Great! Now, where do you get started?
Nailted is a web-based product that can help you integrate eNPS into your company by:
- Sending out regular surveys to your employees to collect and calculate eNPS.
- Giving your employees an opportunity to share open-ended feedback with you – optionally anonymous.
- Providing in-depth insight into pain points, mutual recognition, and more.
If you’d like to try Nailted to help you leverage your employer branding to attract and retain top talent, click here.