Financial Services Company: Employee & Customer Engagement

One of the largest diversified financial services companies in the United States set a vision and strategy to satisfy customers' financial needs while becoming the number-one financial services provider in the company's key market areas. Company leaders knew that achieving this mission and vision would require a strong base of engaged, committed employees who were willing to develop their talents.

The company hired Gallup to implement an integrated process to:

• manage employee engagement using the Gallup Q ¹² process
• implement manager-level training and action-planning programs

After two years, Gallup Business Impact Analysis revealed clear linkages between engaged employees and top-line revenue growth.

• Between the first and second administrations of the Q ¹², the client experienced a 24% increase in the number of engaged employees (those most committed to their work) and a 19% decrease in the number of actively disengaged employees (those fundamentally disconnected from their work).
• Business units in the top quartile of employee engagement scores achieved substantially higher sales than did business units in the bottom quartile. Units that increased their employee engagement achieved 225 more sales per unit per year than did units that decreased in employee engagement. This equated to an additional $6.3 million in annualized profit for units that increased their employee engagement scores.
• Business units in the bottom quartile of employee engagement scores had much higher turnover (231% more) among a key class of full-time customer-facing employees.

To build on these successes, the client and Gallup then embarked on a program to measure customer engagement and examine its linkages to employee engagement. The company and Gallup surveyed more than 4,000 customers using Gallup's CE ¹¹ metric to gauge customer engagement levels. The results indicated that "optimized" business units - those that scored above the 50th percentile on both the CE ¹¹ and Q ¹² metrics - significantly outperformed non-optimized units - those scoring at or below the median on both CE ¹¹ and Q ¹².

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