Qualtrics Announces New XM Benchmarks Powered by the World's Largest Experience Data Library
14 September 2022 - 2:30PM
Business Wire
New benchmarks for employee experience, contact
center and healthcare contextualize customer, patient and employee
feedback, enabling organizations to take swift, targeted action to
improve experiences
Qualtrics (Nasdaq: XM), the leader and creator of the experience
management category, today announced new XM Benchmarks that will
give organizations insights to make critical decisions based on
Qualtrics’ vast experience data and industry-leading analytics.
These new XM Benchmarks are powered by organic feedback from
Qualtrics’ nearly 17,000 customers spanning dozens of industries
around the globe, in addition to targeted panel data from surveys.
The Qualtrics platform has the world's largest collection of human
sentiment data, making Qualtrics benchmarks the most comprehensive
and accurate on the market.
Many organizations have a wealth of customer and employee
experience data from surveys, support conversations, chat and
social media posts, but lack the ability to use it to decide what
to prioritize and what actions to take. Using these benchmarks,
organizations can compare their customers’ satisfaction, patients’
perceptions and employees’ engagement against their industry peers
and competitors, in order to uncover their biggest risks and
opportunities and make the right decisions to address them.
“Amid inflation, spending cuts and a tight labor market,
organizations must find ways to differentiate themselves from
competitors and keep employees engaged and productive,” said Brad
Anderson, Qualtrics’ president of products and engineering.
“Qualtrics has more experience benchmark data within our XM
Platform than any other company. The insights our platform delivers
allow our customers to identify performance gaps, opportunities and
best practices across industries and geographies and take action –
all within the XM Platform.”
Qualtrics Employee Experience (EX) benchmark data shows
shifting employee expectations
For example, Qualtrics’ EX benchmark data demonstrates changes
in employees’ satisfaction with pay and benefits – a major driver
for their intent to stay with a company. Qualtrics’ proprietary
data shows that the share of employees who felt they were paid
fairly for the work they did declined in the US (from 58% to 56%),
UK (from 51% to 49%) and Australia (from 61% to 57%) between 2020
and 2021*. Similarly, in 2020, 63% of employees believed their
companies offered competitive benefits packages, but that number
fell to 57% globally in 2021. The drop-off was particularly steep
in Australia (from 58% to 51%) and the UK (from 57% to 48%).
A company using the EX benchmarks can compare these results to
their own employees’ responses globally and within their industry,
and identify risks to retention in various parts of the world.
Employee Engagement and Technology Experience
Benchmarks
- Qualtrics' new Employee Engagement Benchmarks are composed of
data from over 250 science-based questions, including EX25, to
measure the 25 key drivers of every employee’s experience including
work-life balance, respect and collaboration. Each metric is
aligned to the five key performance indicators (KPIs) of the
employee experience: engagement, experience vs expectations, intent
to stay, inclusion and well-being.
- The benchmarks include data for Qualtrics' validated DEI
solution and the Wellbeing solution, enabling companies to attain
or maintain a diverse workforce and inclusive culture, and make
improvements that impact employee well-being.
- The new Employee Technology Experience (ETX) Benchmark offers
organizations comprehensive benchmarking of their entire technology
experience, including speed, reliability, change management,
knowledge management and other aspects of IT.
Patient Experience Benchmark
- The Qualtrics Patient Experience Benchmark compares patient
experiences across 500 hospitals in the US (all 50 states and
Washington D.C.). This benchmark enables Qualtrics customers to
evaluate performance against their competitors, set goals, and
satisfy regulatory reporting requirements including Magnet and
CAHPS. The benchmark includes over 125 questions and the ability to
filter by site of care, region, bed size and facility type.
Customer Experience (CX) Agent Benchmarks
- The CX Agent Performance Index Benchmark uses three key
attributes: friendliness, knowledge, and understanding, to help
organizations compare their customer care agent performance against
competitors and peers based on operational characteristics
including contact center size, support team size, CRM system,
industry or country.
- The CX Support CSAT Benchmark allows customer care teams to
compare their overall satisfaction scores and support performance
against competitors and peers based on operational characteristics
like contact center size, support team size, CRM system, industry
or country.
About Qualtrics
Qualtrics, the leader and creator of the Experience Management
(XM) category, is changing the way organizations manage and improve
the four core experiences of business—customer, employee, product
and brand. Over 16,750 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.
*
Qualtrics Employee Engagement Benchmarks
are based on a three-year rolling average of responses updated
annually. The data comes from hundreds of Qualtrics customers of
all sizes, spanning the globe and a variety of industries. The 2020
Benchmark is an average of responses from 2018, 2019 and 2020. The
2021 Benchmark is an average of responses from 2019, 2020 and
2021.
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version on businesswire.com: https://www.businesswire.com/news/home/20220914005222/en/
Tyler Petersen, Press@qualtrics.com
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