After completing our second year in business and already celebrating the acquisition of our eightieth client, we are excited to share the incredible success and progress of our clients. These outcomes are a true testament to the power of employee engagement initiatives backed by proven techniques and a smarter science of human behavior.
We are administering more than 50,000 surveys a month to employees all around the world, including the workforces of a number of Fortune 500 companies , and we now have a strong representative group of clients that have completed a second annual survey with our company. With two years of data, experience and follow-up under our belts, we are now in an excellent position to measure the impact of our research and consulting model supported by our consultative advice and our strong client relationships.
One of the most important measures of client success is renewal rates. When clients consistently choose to renew the annual survey process, never choosing to skip a year, it’s because they see real value in the process.
Our renewal rate currently stands at well over 95%!
In fact, we only have one client who did not enthusiastically choose to renew the second year. This decision was forced upon them by their new parent company—after our client vigorously objected to the decision. This level of commitment to the annual survey process across an entire client base is unprecedented in this industry
Among all our clients, executives have seen the evidence and have become true believers that an engaged workforce translates to significantly improved performance in their key measures of business success. We interpret this belief as an ultimate measure of our impact. The more we can move the engagement needle for our clients from one year to the next, the more we can impact organizational performance.
We are proud to report that our clients, on average, have improved overall engagement by an incredible 9.9% from year one to year two.
Upon closer examination, we see that our only client who did not make a significant improvement in the engagement level of their workforce continues to be one of our best advocates. Why? Because they knew the necessary reorganization of their business would create a hardship and disruption for the majority of their workforce, and the CEO of this global Fortune 100 company truly believes the engagement survey process with WSA allowed them to limit the negative impact of this disruption.
There will always be outliers like this when hard decisions have to be made—but the fact remains that minus this extreme exception, our average rate of client improvement was well over 12%.
The success we have experienced so far is based on two factors:
We continue to rely on our extensive experience in this market space to identify the very best people who have ever worked in this business. We are finding that our orientation and our passion enables us to attract the very best and the very brightest. In year two, we have more than doubled the size of our team and are actively involved in continuing along this path. The opportunity to be involved in this mission appears to be a very attractive career proposition for the type of people who can contribute the most. We are so proud of the impact we are having on our clients and the people they serve and employ.
Personally, I have been immersed in this business for almost 45 years. As vice chairman of Kenexa and head of Kenexa’s survey consulting practice, I had the opportunity to be involved in acquisitions and due diligence for a significant number of other companies in this market space. I have personally recruited key people from our competitors and thus learned about the track records of these companies.
In all of my experience, I have never found a company that can report the level of client progress and success we can report across our client base.