Understanding Net Promoter Scores

No matter the size of the organisation, a new benefits platform is a noteworthy investment. And not just because of the financial commitment. Benefits are a significant expense for employers – and a strategic one. They make employees feel appreciated, understood and cared for. They are an important signifier of organisational culture.

Human resources (HR) and benefits teams place a huge amount of thought into their benefits strategies and packages. But if they try and deliver them through a clunky platform, their efforts will soon go to waste. Employees want to engage with platforms that are quick simple, and intuitive. Browsing and shopping cart-style experiences must be on par with what they are experiencing as consumers. Providing this kind of experience is key to seeing a return on benefits investment.

A benefits platform is a pivotal piece of HR technology. HR teams will interact with it every day, so they need to enjoy working with it. They need a platform that will reduce their to-do lists by automating repetitive tasks and offering up data insights. It also needs to be flexible and scalable enough to cope with inevitable structural or strategic shifts.

The high stakes, combined with the number of options on the market, make choosing a provider a complicated task.

When it comes to making the decision, looking at the provider’s Net Promoter Score (NPS) can be a great first step. In this white paper, we’ll cover what an NPS is, why it’s so important, and why Zest’s is so good.

What is an NPS?

P: An NPS is a measure of customer experience, based on one simple question:

“How likely is it that you would recommend [insert brand] to a friend or colleague?”

Respondents mark the brand on a 10-point sliding scale from ‘Not at all likely’ to ‘Extremely likely’. They can then be placed in the following groups:

1. Promoters – score the brand 9 or 10. They are loyal and would encourage others to purchase the brand’s products or services.
2. Passives – score the brand 7 or 8. They’re satisfied with the brand but could easily be swayed by a better offer from a competitor.
3. Detractors – score the brand 0 to 6. They are unhappy customers, likely to discourage others from engaging with the brand.
   

Brands can work out their NPS by subtracting the percentage of detractors from the percentage of promoters.

According to Bain & Company, who is widely credited with creating the measure, an NPS above 0 is good, above 20 is favourable and above 50 is excellent.

Why does a brand’s NPS matter?

A brand’s NPS is so important because it places a clear, numerical value on how customers feel about its products or services. It allows brands to understand how they’re performing in relation to competitors. It has become a key point of comparison for buyers. A brand’s NPS is also a good indicator of growth as this is closely linked to customer satisfaction and retention.

Why Zest’s NPS is better than the rest’s

At 67, our NPS is among the highest in our sector. There are several reasons for this:

1. Exceptional benefits engagement
   The number one goal for any HR or benefits professional is scheme engagement. Employees have to use their benefits to feel and understand their value. With Zest, employees follow a simple step process to making their selections. They can also interact with the platform at any time, on any device. This means that 89% of employees engage with our platform once it’s set up.
2. Quick, simple and inexpensive implementation
   Our competitors can take months to implement their platforms and configure the required benefits. Zest’s revolutionary Benefits Builder accelerates this process to a matter of weeks or days. We save time, and our clients save unnecessary stress and cost. Because our installation is so quick and easy, there is rarely a need to pay expensive consultancy fees to get Zest up and running.
3. Pain-free administration
   Our easy-to-use Admin Dashboard, collates all the information benefits professionals need in one place. Automation takes care of time-consuming tasks, including benefits enrolment and reporting, while handy alerts direct HR’s attention to where it’s needed most. Zest is also built to integrate seamlessly with other HR platforms, making data-sharing simple.
4. Advanced data security as standard
   Zest uses a range of advanced security features, including automatic audits, two-factor authentication and advanced data encryption. These keep employee data safe and our clients compliant with the latest regulation.
5. Total reward on tap
   The importance of a total reward statement (TRS) cannot be underestimated. Zest’s 360°, interactive TRS helps employees appreciate the full value of their package – and understand just how much their company cares for them. It also encourages them to engage with their benefits, by showing how different selections could impact their total reward.

Conclusion: working with a trusted provider

Choosing and implementing a new benefits platform is undoubtedly a big step – but it doesn’t have to come with risk. The best way to ensure a good experience is to go with a trusted provider that has been widely endorsed by credible customers.

Our NPS speaks for itself, but don’t take our word for it. Our customers constantly tell us how much they enjoy using our platform, and how much it has improved the benefits experience for their employees.

Testimonial Block: Our employees love the new portal, it’s got a fresh new look and is so simple and intuitive to use. Director of HR Penspen

Get in touch with us to talk more about how we can help engage, motivate and retain a winning team.