NPS and eNPS
The NPS or “Net Promoter Score” is a common business metric used to measure the likelihood that your customer-base would recommend your product or service to others. It is measured by surveying customers with a 10-point satisfaction scale and subtracting the percentage of detractors or responses below a 7 from the percentage of promoters or responses above an 8.
The eNPS is an internal version of the NPS. “Employee Net Promoter Scores” are measured the same way as the traditional NPS but are based on surveys given to employees, who respond based on their likelihood of recommending an organization as a great place to work.
LoanPro People, Culture and an 80 eNPS
LoanPro recently sent out an eNPS survey to all employees and received a score of 80! There are many reasons that we are proud of this score and wanted to share it others. We don’t just sell loan servicing software; we give our employees opportunity and purpose. Everyone who works at LoanPro has a real and direct effect on the business.
When it comes to employee satisfaction, you can have all the bells and whistles that make work “fun”, but a Ping-Pong table alone won’t generate employee satisfaction. We work hard to make LoanPro a great work experience for all employees and believe people should be happy doing their work instead of just living for the weekend. Shift your focus from making work a “fun” place with cool things, to a place where employees feel fulfilled by their work and connected to the people that they work with.
The eNPS will tell you from a broad view if your employees are happy with their jobs. However, it will not tell you why. After the eNPS survey was sent out, we surveyed our employees again and while we received a lower number of submissions, the information provided us with reasons many of our promoters and neutrals gave the scores they did. Some anonymous responses we received include:
“This place is amazing, and I first began to realize that because of the owners and upper management. They go out of their way to make the work culture here something great. I plan to stay at LoanPro for a long time because of how they have established the culture here.”
“I feel good working at LoanPro”
“I’m being treated well. I like that I can solve or help solve a wide range problems. I’m learning new things essentially everyday which is a plus.”
Why Does it Matter?
The eNPS gives you a snapshot of how your employees feel about your organization. You may not have details on what employees like or don’t like but knowing that your employees are satisfied enough that they would actively encourage others to join the organization is a powerful thing and when coupled with additional survey metrics like we used above, you can get a much more specific shot of what is making your employees either happy or unhappy with their positions.
The goal is ultimately to be a place of work that people enjoy. You can talk all you want about caring about people and teamwork, but if your people don’t like working for you enough to recommend it to others, you may not be providing the work experience that you thought you were.
We could not be more pleased with the family that we have created here at LoanPro! Part of a great company culture and a high eNPS is an environment built on mutual trust, strong work ethic, and an alignment of motivation and vision. With the amazing team we have here, trust comes naturally and every person does their part in moving us along the path to fulfill our potential.