Ecosystem: a community of interacting organisms and their physical environment or any system or network of interconnecting and interacting parts.
Today's business environment is made up of an ecosystem of experience for customers, applicants, and employees. Each one is interconnected and expects a certain experience when interacting with a business. With online reviews, social media, and the Internet at each person's fingertips, customers, applicants, and employees are more educated than ever before, driving up their expectations. This availability of information has created the "Age of the Modern Consumer, “states Tim Leonard, talentReef CPO, that impacts each step of the experience ecosystem.
For years now, companies have researched how important the experience is for customers to drive loyalty and increase sales. Employees are no different and can have a similar impact on a company. The customer experience has paved the way for all other experiences as this customer mindset has now permeated the applicant and employee experience. Customers, applicants, and employees alike expect what they want and need to be easy to find on multiple channels, accessible and mobile (or as Leonard calls it, "the Amazon Effect"), engaging with pictures and videos, and personalized.
When the ecosystem of experience for the customers, applicants, and employees is combined into one ecosystem of experience, businesses have a greater impact on key business drivers. However, many companies don’t give the same amount of energy and financial backing to the employee experience that they give to the customer experience. As Simon Sinek famously states, “Happy employees ensure happy customers. And happy customers ensure happy shareholders—in that order.” When the employee experience is a positive one, that directly impacts the customer experience. It would be safe to say that very few businesses exist who have wonderful customer experiences but don’t have wonderful employee experiences.