As a CFO of a business, you know that employees are a key element of a company’s development and performance. Your business success depends on employees and managers and you must give importance to their feedback, needs, and opinions. 

Today, CFOs are adopting various tools and programs to encourage their employees to share feedback. Many of them are depending on AllVoices to bring positive change in their workplace environment.

Benefits of AllVoices

Many companies think that customer feedback is important for business growth. While this is true, employee feedback is equally important to improve a company’s revenue and performance. If companies want to improve their business productivity and revenue, they have to start from the inside. 

When companies have a system to identify employees’ needs in a timely and transparent manner, they are able to prioritize the correct issues and provide relevant and sufficient resources and support to their teams. And this is why CFOs choose AllVoices, because the feedback it encourages, offers a wide range of benefits in regards to financial success.  Here are just some of these benefits:

Return on Investment

Although business ROI is related to net income, it also indirectly depends on on employee satisfaction. When companies ensure that employees feel heard and valued, they will perform well. As a result, companies can achieve business goals and business growth. Here are some ways in which AllVoices can help improve ROI:

Reduced Turnover Expenses

Organizations can reduce turnover expenses by gathering and resolving employee feedback. Reduced turnover will result in better customer experiences, improvement in overall productivity, and reduced training time. Furthermore, ensuring that employees’ needs are effectively addressed can boost employees’ motivation levels and morale to work more effectively. 

Alternative ways to reduce turnover expenses are mentorship programs, orientation, and wellness offerings. That said, these kinds of employee retention strategies are risky as they take a large chunk of the budget to get started, and they might not be the solution that your employees need most. Companies can reduce turnover expenses more effectively by asking and responding to what employees share with the help of AllVoices. Here, is a calculator that you can use to break down just how much you are losing due to employee turnover, and how much AllVoices can potentially save you.

Improved Employee Engagement

Employees’ engagement and feedback exchange are directly related to one another. When organizations offer a platform that makes employees feel safe and encouraged to provide feedback, they are increasing knowledge sharing and creating a culture of engagement. Keep in mind that feedback is more than business development. It allows employees to celebrate small and big successes.

Companies can motivate and engage their employees by recognizing their efforts and offering value based on their feedback. According to a recent survey on employee engagement, more than 72% of employees think that recognition has a significant impact on engagement. Here, is a calculator that you can use to discover just how much employee engagement affects your bottom line, and how much AllVoices can potentially save you. 

Improved Productivity

Another benefit of knowing and addressing employee needs with their feedback is improving performance. Valued employees perform better than employees who are disengaged and unhappy. Building a feedback culture in a workplace environment also increases productivity for those who are receiving the employee feedback. When the amount of feedback increases, companies are given an opportunity to identify priorities, track trends in company culture, and ultimately improve their businesses’ leadership and management processes. As a result, they can optimize practices related to addressing employee needs and improving employee performance. 

Increased Glassdoor Scores

Glassdoor is a platform that generates scores according to recent employee feedback and reviews Employees can post a review about their company on this platform, publicly. Many potential employees and even customers, utilize GlassDoor to gauge how well companies are treating their employees.

When organizations offer a platform like AllVoices for employees to share their experiences, this affects Glassdoor ratings in two ways. First, employees now have an internal way to share their reports and feedback, a way that offers solutions and resolvent, removing the need to share negative feedback on Glassdoor. Second, the long-term benefits of a tool like AllVoices mean a gradual incline of positive company culture and happy employees, also removing the need to post negative reviews and ratings on GlassDoor.

Risk Mitigation

Many companies think that they have enough knowledge to resolve a company’s challenges without getting feedback from their employees. However, the truth is totally different. Employees can play a vital role in risk mitigation. If you give your employees a chance to come up with ideas and share, you can reduce a wide array of risks that might influence productivity and safety in your business.

Furthermore, AllVoices allows companies to gather feedback from employees in real-time. Using this tool, companies can instantly identify the problems in each department and immediately resolve them before they become cultural norms. The platform offers numerous tools that generate insights and graphs so you can understand various patterns.

Reducing Vendor Sprawl

In many cases, businesses have a poor experience with technological tools, especially because of vendor sprawl. Companies often spend time and money to develop technology stacks with a number of different platforms and software that speak to one another. However, with AllVoices organizations don’t have to worry about inefficiencies and sprawling. AllVoices allows companies to be whistleblower compliant, source feedback, administer pulse surveys, follow up on feedback, receive reports, resolve issues, track trends and priorities all in one comprehensive dashboard, eliminating the need for various tools.

So, what exactly is AllVoices?

AllVoices is a comprehensive employee intelligence and feedback management platform. Many CFOs trust this platform to gather feedback from their employees and create a positive culture in the workplace. Because of this platform’s user-friendliness, and anonymous feedback and reporting options, employees feel confident sharing their concerns with management. Using AllVoices, employees can:

• Ask questions
• Share positive input
• Share feedback or suggestions
• Report harassment or other culture issues

The AllVoices platform offers a user-friendly interface for employees and has an easy-to-read reporting dashboard with quick insights about submitted feedback. This dashboard is an encrypted interface that highlights trends and patterns with the assigned backend managers.

Companies such as Scopely, Patagonia, and Zillow Group use AllVoices to obtain feedback from their employees. The platform provides them with real-time and visualized data, so they can resolve issues and make relevant timely decisions. Integrating this system in your workplace will empower employees so they can share views, offer feedback, and report complaints.

Conclusion

Connect your business with AllVoices if you want to improve your workplace culture and improve your bottom line. Resolving employee feedback can improve productivity, customer experience, and reduce turnover expense. If you are interested in learning more, request a demo today!