For the last few years, "customer experience" has been all the rage, but Deloitte Digital believes the future focus for businesses should be on the "human experience."
After digging into human values, Deloitte Digital developed a Human Experience (HX) Quotient and a Values Compass to better measure these assets from a business standpoint.
Through its research, Deloitte Digital found that businesses with the strongest brand loyalty and fastest growth are those that are the most aligned with the values of their customers, employees and partner – and leverage that to create meaningful human experiences.
The HX Quotient algorithm shows how far an organization is on its path to enhance the human experience and where it can better come into line with the values of its customers, internal team and partners.
Deloitte applied its new tools to a study in the QSR space, which revealed that the businesses focusing on human experience are twice as likely to outperform their competitors in revenue growth over a three-year period. The research also showed that these organizations have 17 times faster store growth than those that do not shine a light on human experience.
The Values Compass is a proprietary tool developed by Deloitte that measures what motivates customer feelings and purchase behavior. The tool, which pulls insights from a database of over 200,000 humans’ answers to more than 10,000 questions, maps out values like ambition, curiosity, belonging and certainty, along with outside emotional drivers and motivations.
From the Values Compass, Deloitte discovered five main themes that indicate how organizations can better activate human values. These themes include: Be obsessed by all things human; proactively deliver on human needs; execute with humanity; be authentic; and change the world.
"What is most exciting about this research, the HX Quotient, and the Values Compass is what it means for all of us," according to the Deloitte Digital white paper. "After all, who wouldn’t want to be treated just a little bit more human?"