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Leading Organizations Choose Qualtrics to Boost Employee Engagement, Retention and Loyalty in Challenging Times
Rhea-AI Impact
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Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
Qualtrics (NASDAQ: XM) announced a surge in demand for its employee experience solutions in Q4 2022, with notable clients like BMW Group, KFC, Kyndryl, and Qualcomm. The company's offerings support organizations in retaining top talent and improving employee engagement amid economic challenges. According to Qualtrics' Employee Experience Trends Report for 2023, 63% of employees with a good work-life balance are motivated to excel. Key highlights include BMW expanding its partnership with Qualtrics and KFC leveraging their platforms to enhance customer service. This momentum suggests strong market positioning for Qualtrics as businesses prioritize employee experience.
Positive
Hundreds of organizations, including BMW Group and KFC, selected Qualtrics' solutions in Q4 2022, indicating strong market demand.
Qualtrics expanded its partnership with BMW Group, enhancing customer experience management.
KFC invested in Qualtrics' EmployeeXM and CustomerXM to boost service amid workforce shortages.
Kyndryl utilized Qualtrics EmployeeXM to transform its workplace culture and engagement strategies.
Qualcomm standardized on Qualtrics to unify employee feedback systems for better engagement.
Negative
Some employees (35%) have reported decreased career ambitions, which might impact organizational productivity.
Only 29% of employees with a poor work-life balance are willing to go above and beyond for their companies.
PROVO, Utah & SEATTLE--(BUSINESS WIRE)--
Qualtrics (Nasdaq: XM), the leader and creator of the experience management category, today announced that hundreds of organizations worldwide, including BMW Group, KFC, Kyndryl and Qualcomm, selected its employee experience solutions in the fourth quarter of 2022 as companies look to attract and retain the best talent, increase employee engagement and improve productivity.
“Heading into an increasingly challenging economic climate, organizations know they’ll need to make difficult decisions to propel the business forward, while also keeping a focus on retaining their best talent,” said Brad Anderson, Qualtrics president of products and engineering. “Qualtrics EmployeeXM™ enables leaders to understand how employees are feeling and thinking, which is critical for taking swift, informed actions to boost company culture and help their workforce feel supported and engaged.”
As many organizations face shrinking budgets, leaders should have a grasp of which experiences will most impact their employees’ engagement and productivity. Qualtrics’ Employee Experience Trends Report for 2023 shows that when employees have good work-life balance, 63% are willing to go above and beyond for their company. By contrast, only 29% of employees with a poor work-life balance would do the same. Broken processes are also impeding on worker productivity, as 65% of workers say work processes enable them to be productive, down from 68% a year ago.
As leaders look to retain talent across the organization, it’s critical to understand how the pandemic impacted career expectations and aspirations across generations. Overall, Qualtrics research shows 35% of employees have decreased their career ambitions over the past three years. However, younger workers—Generation Z and young millennials (18-34 years old)—are growing more ambitious, with 35% reporting higher career goals than they had pre-pandemic. The largest motivating factor for young workers to do their best at work is earning money, whereas older workers are more motivated by personal pride in their work.
Highlights from the fourth quarter include the following organizations choosing Qualtrics to better understand peoples’ emotion, effort and intent to create more personal and empathetic experiences:
Qualtrics expanded its 5-year partnership with the BMW Group in the quarter. The BMW Group is focused on customer-centric innovation and we’re proud to be their Experience Management partner. We’re working with the BMW Group to manage every aspect of the customer experience feedback—from how people can build and order their vehicles online, to test drives at the dealerships to service and issues management for owners. Qualtrics helps enable the BMW Group to bring all of this experience data together on a single platform to create a seamless experience across all of their channels, identify product issues faster and intervene in the moment. This will help the BMW Group deliver more connected, holistic and personal experiences—building deeper relationships with their customers at every turn.
The leaders of fast-expanding KFC chose Qualtrics as a global partner in the quarter, investing in Qualtrics Employee and CustomerXM™. KFC has more than 27,000 restaurants in 150 countries, so the factors of speed, taste and accuracy are everything. At a time when frontline employees are in short supply, KFC can use Qualtrics Discover, Engage and Social Connect to rapidly collect and analyze millions of data points so that they can take actions that make a difference to their customers.
In its first year as a publicly-traded company, Kyndryl—the world’s largest IT services firm—harnessed the unique capabilities of Qualtrics EmployeeXM in Q4 as it built its culture of empathy and inclusivity for its 90,000 employees. By benchmarking key engagement indicators against industry peers, Kyndryl has been able to watch a cultural transformation spread across the organization, impacting the way employees work together and serve customers. With its continued commitment to becoming the employer of choice and focus on empowering managers and employees in 2023, the company can ensure that its culture, The Kyndryl Way, powers progress for its customers and the careers of its people.
Qualcomm is intensely focused on making the right investments in 2023, and they standardized on Qualtrics EmployeeXM, replacing various standalone engagement systems. With Qualtrics, Qualcomm will be able to look at employee feedback holistically across the organization to identify high-impact actions that will build confidence in the future of the company and improve employee engagement and retention.
State Employees’ Credit Union (SECU), an 85-year-old North Carolina financial institution with more than 7,500 employees, chose Qualtrics EmployeeXM to transform its employee culture under new leadership, including a new CEO and Chief Culture Officer. The credit union is quickly modernizing its mobile and digital offerings for members, and the leaders believe that it must modernize internally, as well. SECU will use Qualtrics’ EX solution to build strong employee experience and DEI programs that make it a destination employer in the state of North Carolina.
Australia's largest retail drinks network and portfolio of licensed hotels Endeavour Group added new functionalities to its EmployeeXM platform to help the company build manager effectiveness, improve the onboarding experience for new team members, and provide a positive, safe, and inclusive workplace for its 30,000 employees. Adding to the company's engagement program, Endeavour will capture regular feedback throughout the employee lifecycle to understand what moments are having the biggest impact on employee experience, and what meaningful actions can be taken to improve the experiences for employees and customers.
About Qualtrics
Qualtrics, the leader and creator of the experience management category, is changing the way organizations manage and improve the four core experiences of business—customer, employee, product and brand. Over 18,750 organizations around the world use Qualtrics to listen, understand and take action on experience data (X-data™)—the beliefs, emotions and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love and build a brand people are passionate about. To learn more, please visit qualtrics.com.
