4.4 million Americans quit their jobs in February.
More than ever, workers are refusing to put up with workplaces that don't value or respect them. With the emergence of the gig economy and with 11.3 million jobs open in February 2022, they have options.
So it's more important than ever to focus on improving the culture and employee engagement at your company.
One way to get an idea of where your company stands with your employees is to determine your eNPS score.
Improving your employee's happiness and engagement can help your company not only keep current employees but also hire new quality employees. Not to mention, happier employees are more productive, and therefore more profitable.
Continue reading to learn all about eNPS scores, how to interpret yours, and how to use it to keep your employees happy.
What is an eNPS score?
Employee net promoter score, or eNPS, is a way to measure how happy and engaged your employees are with your company.
A net promoter score is not a new concept. It has been used to determine how happy customers are with companies for a long time. Only recently has it been turned towards the employee experience.
Check out this brief video for a closer look at the eNPS score.
Why find Your score?
The world is changing. We are in the midst of what is termed "The Great Resignation."
Employees who aren't happy with their workplace aren't just dealing with it anymore. They are taking back control and demanding better working environments, benefits, and work/life balance.
If a company doesn't adjust for this and focus on improving these things that employees care about, they will be hard-pressed to hold onto them.
Finding your eNPS score is a good first step to determining where you are with your employees.
It's useful for more than just keeping your workers too. Employees that are happy and engaged with their jobs are more productive and provide a better customer experience. This helps to make customers happier and more loyal, which boosts the company's reputation, and profits.
Determining your score
One of the benefits of the eNPS score is how easy it is to determine. Typically the survey is just a single question, which makes employees more likely to respond than if it were a lengthy questionnaire.
The question for this survey is usually phrased as: on a scale of 0-10 how likely are you to recommend our company to friends or family?
Once you have collected the responses, you can sort them into three categories: promoters, passives, and detractors. The category splits are as follows:
- Promoters: 9-10
- Passives: 7-8
- Detractors: 0-6
The formula to calculate your employee net promoter score is then the percentage of your workforce that are promoters - the percentage that are detractors. Passives are not included in this formula.
Although all you need to determine your score is this one question, adding supplemental questions or room for employees to explain can help a lot in understanding your eNPS score.
Interpreting your score
eNPS scores can range between -100 and 100, with a score of 0 meaning there is an equal percentage of detractors and promoters. Any score over 0 would mean that in general there are more promoters than there are detractors.
You, of course, want the score to be as high as possible.
Although the average varies by industry, company size, and even country, typically, anything over 30 is a good average, and anything over 50 is considered excellent.
Calculating the score once gives you a good starting idea, but the real value is in calculating it repeatedly over time. This allows the company to see how it improves over time and can give you an idea of if your HR initiates are working effectively or not.
Try sending out the survey once every quarter, and see how it changes.
Improving your score
This is where the supplemental questions on the survey come in handy. If you have that feedback from your employees, you know some of the things that it is important for you to address.
If your original survey didn't include any extra questions, go ahead and send a new one to look for ways you can increase your employee's engagement.
However, a good place to start is with the basics. How are your employees treated on a day-to-day basis? Are they treated with respect? Sometimes addressing these things can be uncomfortable, but they can have a massive impact.
Once the basics are at a good level, you can begin to work on things such as recognizing people's achievements and promoting from within.
Check out this more comprehensive list of ways to improve your employee's engagement.
Some things to keep in mind
It can be hard sometimes to admit a problem exists, but it is almost always worth it to move through that and address it. If it is something that many employees have brought up, then it requires attention.
In addition to surveying for things that can be improved, also ask what things are already working well and are appreciated. Make sure to continue those practices.
Don't forget about the passive responses that weren't considered in the formula. See what you can do to swing them into the promoter category.
Put it to work
There is no denying the importance of your company's culture and how you treat your employees.
With workers quitting in droves, it is beyond time to make sure that employees are getting the benefits and support they deserve.
Are you sold on the importance of evaluating your eNPS score? Let us help you get started. Request a personalized demo today!