SAN FRANCISCO--(BUSINESS WIRE)--Medallia, Inc., the global leader in customer and employee experience, today announced a record-breaking 77% increase in new employee experience bookings in the fourth quarter of fiscal year 2022. Half of the Fortune 10 companies now use Medallia’s Employee Experience Suite and 165 large enterprise companies globally in total, impacting more than 12 million employees at those organizations.
“The massive growth in bookings, industry-leading retention rates, and the sheer number of employees using our platform show the growing urgency — and value — of providing a great employee experience,” said Medallia President and CEO Leslie Stretch. “We are in the midst of a talent revolution and the Great Resignation put employee experience in the spotlight. The most innovative companies know that by listening, learning, and taking meaningful action, they can not only empower their people, but drive significant business results.”
A recent research report conducted by the Medallia Institute showed the companies most focused on employee experience are 12 times more likely to indicate revenue growth of more than 20%. And with the cost of replacing an employee who voluntarily leaves equaling 1.5 to 2 times the employee’s annual salary, according to research from Gallup, the importance of employee satisfaction and retention is clear.
Medallia Employee Experience goes beyond traditional surveys and empowers high-performing organizations with rich data dashboards that illuminate what their people need to drive positive business results. Employees submitted more than 40,000 ideas through Medallia EX and its crowdsourcing solution in 2022, helping executives not only involve their people, but gain valuable input that led to tangible improvements.
“Employee voice is one of the most valuable, but often overlooked tools that companies can use to improve nearly every aspect of their business,” said Melissa Arronte, Medallia Employee Experience Practice Lead. “Employees are constantly sharing how they feel and what they need, but it can be challenging to capture without the right resources. Medallia's industry-leading technology, people analytics, and data insights detect the early signs of employee burnout, turnover, and declining morale in the moments that matter the most, when there's still time to do something about it.”
Everest Group recently named Medallia as a Leader in Employee Experience Management in its report, “Employee Experience Management (EXM) Platforms PEAK Matrix® Assessment 2022.”
For more information about the Medallia Employee Experience Suite, visit our site at: https://www.medallia.com/employee-experience/.
Medallia is the pioneer and market leader in customer, employee, citizen, and patient experience. The company’s award-winning SaaS platform, Medallia Experience Cloud, is becoming the experience system of record that makes all other applications customer and employee aware. The platform captures billions of experience signals across interactions including all voice, video, digital, IoT, social media, and corporate-messaging tools. Medallia uses proprietary artificial intelligence and machine learning technology to automatically reveal predictive insights that drive powerful business actions and outcomes. Medallia customers reduce churn, turn detractors into promoters and buyers, create in-the-moment cross-sell and up-sell opportunities, and drive revenue-impacting business decisions, providing clear and potent returns on investment. For more information visit www.medallia.com.
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