Verint Announces Employee Engagement Strategy; Introduces Business Impact Solution for Voice of the Employee
New Offering to Help Organizations Manage Comprehensive Employee Engagement Programs
MELVILLE, N.Y., August 21, 2013 — Verint® Systems Inc. (NASDAQ: VRNT) today announced the availability of its Voice of the Employee™ solution, which serves as a foundation for the company’s employee engagement strategy. The software is designed to help organizations manage a comprehensive, ongoing and committed employee engagement program by capitalizing on the voice of their employees (VoE) to drive employee and customer satisfaction, loyalty and bottom-line performance. This offering serves as the latest addition to Verint’s series of Business Impact Solutions™, which are predefined combinations of the company’s award-winning workforce optimization (WFO) and voice of the customer (VoC) analytics software to help address specific business needs.
The solution leverages the company’s market-leading Voice of the Customer Analytics™ technology to provide companies with a single, holistic view of both the VoE and VoC to cultivate personnel, products, services and supporting business processes, as well as foster increased employee engagement, improved customer loyalty and new opportunities to drive revenue.
Today, employee engagement is vital to every company’s success and has a proven direct impact on increasing employee retention and loyalty, reducing turnover costs, and driving a more customer-focused workforce and environment. It also has shown a direct correlation to heightened customer satisfaction and increased company profitability. Productivity is also at stake. According to the Gallup 2013 State of the American Workplace Report, “70 percent of American workers are not engaged or actively disengaged,” which Gallup estimates costs the U.S. $450-$550 billion each year in lost productivity.
Active employee engagement also can help transform a company’s customer experience. According to Temkin Group, 75 percent of employees in organizations with above average customer experiences are highly or moderately engaged, and those engaged employees are almost three times as likely to make recommendations about an improvement and more than six times as likely to recommend that a friend or relative apply for a job.1 “Employee engagement is a commitment, not just a campaign, and the best companies continuously grow and innovate ways to keep their employees engaged,” explains Bruce Temkin, managing partner, Temkin Group.
Employee Engagement & Satisfaction: An Ongoing & Committed Process
With the Voice of the Employee Business Impact Solution, companies can engage and listen to their employees on an ongoing basis, understand satisfaction and engagement levels within the organization, and respond accordingly. This enables functional areas across the business, such as Human Resources, to learn about what drives performance, perceived obstacles and areas of misalignment.
Enabling companies to gain insight to assess employee sentiment are an array of employee feedback technologies, such as email, mobile and SMS surveys and text analytics. These Verint solutions have helped organizations of all sizes build and advance their employee feedback programs. With its Voice of the Employee solution, companies can segment and survey employees based on attributes—such as demographics, management level, department, location and tenure—to create employee personas and gain more targeted insight and actions. One global retailer, for example, surveyed 135,000 employees in eight languages across its global locations, achieving cost savings of up to 75 percent of an outsourced solution and heightening response rates to 80 percent, all through its use of Verint VoE technology.
Aligning Employee Engagement with the Customer Experience
Studies and experience have shown a direct correlation: engaged employees tend to work with a passion that translates into happier, more loyal customers. Verint’s Voice of the Employee solution helps organizations gain detailed perspective into employee perceptions and sentiments, giving them greater insight into practices, opportunities and challenges that can influence and link employee satisfaction, customer satisfaction and business performance. By asking employees what they care about, businesses can keep a pulse on employee needs, better understand motivations and perceptions, and help create and maintain a loyal and committed staff.
Enabled by Verint Services, Verint Business Impact Solutions help organizations identify and quantify key aspects of operational performance and prioritize activities to help maximize productivity, engagement, loyalty and more. Other Verint Business Impact Solutions launched this year include those that help address High-Efficiency Performance Management™, Regulatory Compliance™, Cost-to-Serve™, Call Avoidance™, Service Recovery™ and Personalized Guidance™. Learn more at verint.com.
About Verint Enterprise Intelligence Solutions
Verint® Enterprise Intelligence Solutions™ help organizations of all sizes capture and analyze customer interactions, sentiments and trends across multiple channels, improve performance and optimize the customer experience. The solution portfolio includes the Impact 360® Workforce Optimization™ suite and Voice of the Customer software, which serve as strategic enterprise assets for increasing customer satisfaction and loyalty, enhancing products and services, reducing operating costs and driving revenue.
About Verint Systems
Verint® (NASDAQ: VRNT) is a global leader in Actionable Intelligence® solutions. Its portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps organizations Make Big Data Actionable™ through the ability to capture, analyze and act on large volumes of rich, complex and often underused information sources—such as voice, video and unstructured text. With Verint solutions and value-added services, organizations of all sizes can make more timely and effective decisions. Today, more than 10,000 organizations in over 150 countries, including over 80 percent of the Fortune 100, count on Verint solutions to improve enterprise performance and make the world a safer place. Headquartered in NY, Verint has offices worldwide and an extensive global partner network. Learn more at www.verint.com.
This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2013 and our Quarterly Report on Form 10-Q for the quarter ended April 30, 2013 and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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1 Temkin Group, Employee Engagement Benchmark Study, January 2013