FarWell Restructures to Emphasize Customer and Employee Experience

(MADISON, Wis.)—FarWell restructured its leadership team in 2020 to embody an “employee experience (EX)-delivers-customer experience (CX)” mentality. The leadership changes include the promotion of four senior staff along with four senior advisors.

“The latest corporate restructuring is an example of how important we value not only our internal employees but also our customers,” FarWell Co-Founder and CEO Jason Potter said. “For us to deliver meaningful client experiences, it all starts with making sure we’re helping our team members thrive personally and professionally.”

Co-Founder Steve McQuin is now President and Chief Innovation Officer, Mel Gillen is the Customer Experience Officer, Nick Lombardino is now Director of Employee Experience and Mike Maniaci is the Director of Client Solutions.

Another way FarWell is focusing on its employee experience is by promoting Senior Advisors Rachel Breitbach, Dean Giorgetti, Jeff Barutt and Natalie Droessler to engagement managers (EM). In these support-driven roles, the EMs have the responsibility of leading a team of advisors, across multiple different clients, with an emphasis on delivery support, career pathing and professional development.

“FarWell’s EX vision is to grow an organizational culture that is grounded in shared values and where team members are empowered to flourish personally and professionally,” Gillen said. “When you can help employees achieve a higher level of fulfillment, you also create incredible experiences for your clients.”

Read InBusiness Article: FarWell Restructures to Emphasize Employee Experience

What is a Customer and Employee Experience Mindset?

A customer and employee experience mindset embraces the concept that engaged and empowered employees who feel valued, trusted, and accountable for delivering real value to customers are the most significant driver of organizational success.

Employees who feel that they are key players in the organization as a whole, no matter what role they’re in, are motivated and inspired to go above and beyond to delight customers. This, in turn, leads to increased customer satisfaction, lower customer attrition rates, and more customers who take it upon themselves to become brand evangelists and spread the word about how much they love a particular company.

CX, EX and ROI

According to this employee and customer experience article in Forbes, written by Senior Contributor Blake Morgan, “There is an undeniable link between employee experience and customer experience. Companies that lead in customer experience have 60% more engaged employees, and study after study has shown that investing in employee experience impacts the customer experience and can generate a high ROI for the company.”

A highly engaged workforce is good for business.

• Decreased employee turnover (which lowers hiring and training costs)
• Increased safety (which in addition to being important in and of itself, also lowers costs)
• Reduced absenteeism (another cost savings)

An investment in experience has proven business returns.

• Companies with highly engaged employees outperform their competitors by 147%. – Gallup
• Companies with a highly engaged workforce experience a 19.2% growth in operating income over a 12-month period. – DecisionWise
• 89% of companies expect to compete primarily on customer experience. – Gartner
• 82% of employees at high-performing companies are highly engaged, but only 68% are at under-performing companies. – Qualtrics
• Business units with engagement and connection scores in the top 25% had 10% stronger customer metrics. – DecisionWise
• Companies that invest in employee experience are four times more profitable than those that don’t. – Harvard Business Review

Businesses are beginning to make customer and employee experience a part of their business strategy.

The relationship between EX and CX is so important to an organization’s overall ROI, it’s something that we anticipate more and more companies to formally recognize with formal programs and organizational restructures like the one at FarWell.

Register for Our Free Experience Strategy Webinar Oct. 29

Interested in learning more about the relationship between EX and CX and a company’s long-term success? Register to attend FarWell’s upcoming Leadership Support Series Event, Finding the Value in CX and EX: Making a Business Case for “Experience” Strategies, scheduled for 11:30 AM on Thursday, October 29, 2020.