More than half of European consumers cite a brand’s reputation for service and support as a top consideration when making a purchase. And they expect fast and complete resolution when they have an issue, according to a new global report from Genesys, “Generational Dynamics and the Experience Economy.” And about two-thirds of employees in Europe expect to work for an organisation with a supportive environment and culture. 

These expectations make customer and employee loyalty harder than ever to earn — and easier than ever to lose.  

What sets leading organisations apart is the experiences they provide to meet those expectations. Exceptional experiences delight customers and empower employees. In doing so, they build loyalty and increase retention, while increasing business performance. 

Organisations looking to gain and retain a competitive advantage through experience leadership must consider both the consumer and employee experience. But it doesn’t stop there. 

They must also look at the differences across Generation Z, millennials, Gen X and baby boomers. Each generation brings unique perspectives, preferences and expectations to their consumer interactions with brands and their interactions as employees with their employers. 

To succeed, brands need to deeply understand their audiences and ensure that the experience they offer matches each generation’s expectations.  

The businesses that seize the opportunity to enhance their experience in ways that meet consumer and employee expectations will find themselves better able to attract, engage and retain both customers and talent across all generations.   

Here are select findings about European customers’ and employees’ expectations today — and what that means for organisations looking to provide engaging, personalised engagements. 

Building a Long-Term Competitive Advantage 

Organisations need to deliver remarkable experiences for consumers and employees today — experiences that address the unique expectations of each generation, as customers and as employees. Three-quarters of European consumers expect the organisations they buy products and services from to consistently provide high-quality service experiences. Seventy-one percent agree that they expect brands to show empathy and understanding toward their needs.  

And research showed that 67% of employees in Europe say they expect their employers to provide flexibility and work-life balance, while half expect a company culture that offers sufficient opportunities for professional growth. 

Personalised omnichannel interactions with easy, seamless access to both assisted and self-service options are the future of customer experiences. And empathetic, proactive employee experiences that provide flexibility and help talent succeed today – and develop in their careers over time – are essential to a productive work environment. 

Half of European consumers say they would stop buying from a brand because of poor customer experiences. Similarly, half of employees feel they would leave their job due to poor work environment and culture; 55% would change jobs due to inadequate recognition, compensation and benefits. 

 Today’s experiences must do more than just solve customer and employee issues if they are going to build and solidify long-term customer loyalty and employee retention. 

Organisations should use these opportunities to show empathy, support and shared values in ways that clearly differentiate themselves from the competition and build engaging, lasting relationships with customers and employees. This approach will lead to a long-term sustainable competitive advantage that delivers business value as remarkable as the experiences that drive it. 

 Learn more about what customers and employees across generations today expect from brands and employers in “Generational Dynamics and the Experience Economy.”