The rise of video and its impact on DEX
According to the Microsoft FY23 Q2 report, Microsoft Teams has witnessed an astounding increase in its user base, with 280 million users compared to 145 million just two years ago. This surge reflects the growing prominence of video and video communication in the corporate environment. However, this rise in video content has also resulted in a substantial increase in global data traffic, particularly in the business sector. The IDC Global DataSphere Forecast predicts that this trend will significantly impact businesses, necessitating a focus on managing and optimizing the digital experience of employees involved in video production and consumption.
DEX: Key to employee engagement and business profitability
The digital employee experience (DEX) plays a pivotal role in fostering internal engagement and driving business profitability. Futurist Jacob Morgan, in his book "The Employee Experience Advantage," highlights the correlation between a positive employee experience and business growth. Companies that prioritize creating a great employee experience witness a 50 percent higher rate of revenue growth and profit growth compared to those that neglect it. Employee engagement, according to Morgan, is an outcome of a positive employee experience, emphasizing the importance of providing a conducive work environment that motivates and empowers employees.
Numerous studies support Morgan's findings. For instance, LinkedIn's Global Talent Trends report reveals that 77 percent of surveyed companies focus on employee experience to increase retention rates. Additionally, a joint technical research paper by Salesforce and Talenteck establishes a clear link between employee experience and revenue growth. Moving from the bottom to the top quartile in key employee metrics can result in over 50 percent revenue increase and significant profit growth. The paper also underscores the role of employee experience data in calculating the return on investment (ROI) of employee investments, urging HR to evolve into a strategic function that drives revenue.
Gartner's projection: The Growing Importance of DEX
Recognizing the significance of DEX, Gartner predicts a dramatic rise in its importance as a board-level concern within the next 12 to 18 months. By 2025, Gartner estimates that 50 percent of IT organizations will have established a DEX strategy, team, and management tool, a significant increase from the current 15 percent. This projection reflects the growing recognition of DEX's impact on employee engagement, productivity, and overall business success. As remote and hybrid work models become increasingly prevalent, businesses must prioritize DEX to provide their employees with the necessary tools and support to thrive in a digital work environment.
How Hive Streaming helps enhance DEX on Microsoft Teams
For organizations leveraging Microsoft Teams for live video events, Hive Streaming offers a powerful solution to enhance DEX. Hive Streaming's Video Experience Platform seamlessly integrates with Teams, enabling organizations to set, track, and manage digital employee experience key performance indicators (KPIs) within their internal corporate communications.
The Hive platform functions as a central hub for video experience, bridging the gap between the employee viewer, the video stream, and the corporate network. Leveraging data from 170 of the world's largest enterprises and integrating with more than 30 video platforms, Hive empowers companies to ensure a high-quality DEX and drive
Before the event: Troubleshooting and preparing for a seamless experience
One of the key advantages of utilizing Hive Streaming on Microsoft Teams is the ability to address potential issues before an event takes place. With the platform's pre-event network testing feature, organizations can proactively identify and troubleshoot any network-related challenges that may impact the viewing experience. By ensuring a robust network infrastructure, businesses can prevent disruptions and guarantee a smooth video streaming experience for their employees.
During the event: Ensuring reach, reliability, and real-time monitoring
Hive Streaming enables organizations to reach all employees effectively, regardless of their location or the scale of the event. With the platform's capabilities to prevent network failures and monitor each video stream in real time, businesses can deliver uninterrupted and high-quality live video content to their workforce. Real-time monitoring allows for immediate detection of any performance issues, enabling prompt action to maintain a seamless digital experience for employees throughout the event.
After the event: analyzing performance and tracking key metrics
Measuring the success of a live video event is vital to understand its impact on employee engagement and overall business goals. Hive Streaming offers powerful post-event analytics, allowing organizations to analyze video performance and track key performance indicators (KPIs) such as viewer experience and employee engagement. These insights provide valuable data that can be leveraged to optimize future events, refine communication strategies, and further enhance the overall digital employee experience.
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Reducing IT costs and ensuring network stability with Hive Streaming
Implementing Hive Streaming not only improves DEX but also offers significant cost savings for IT departments. The platform's intelligent enterprise content delivery network (eCDN) solution helps strengthen network performance without the need for substantial investments in additional network infrastructure. By efficiently handling large volumes of video traffic, Hive Streaming eliminates network congestion, ensuring that other critical business applications remain unaffected by bandwidth limitations.
Moreover, Hive's ability to handle any video traffic volume safeguards against network overload, preventing potential disruptions that can lead to costly downtime. A real-life example demonstrates the importance of a reliable streaming platform: an organization experienced collateral damage amounting to over $3 million due to a mere 45-minute network outage before utilizing Hive Streaming. By adopting Hive as their internal broadcasting solution, businesses can mitigate the risk of such losses and maintain uninterrupted operations during critical live events.
Hive Streaming app for Microsoft Teams: Seamlessly integrated video performance tracking
For organizations leveraging Microsoft Teams, the Hive Streaming app available via Microsoft AppSource is a valuable tool. It allows Hive customers to easily track and analyze the performance of live events, as well as monitor multiple simultaneous events in real time, all within the familiar Teams interface. This integration enhances convenience and streamlines the process of evaluating the success of internal broadcasts, ensuring that organizations have comprehensive insights to optimize future engagements.
Hive Streaming has emerged as a trusted partner for numerous global companies, including Fortune 500 organizations, seeking to enhance DEX in the hybrid workplace. By leveraging Hive's advanced video streaming capabilities, businesses can foster data-driven communications, elevate employee experience, and promote genuine employee engagement across their entire workforce.
Hive Streaming offers a comprehensive solution to enhance DEX on Microsoft Teams. Through proactive troubleshooting, real-time monitoring, and insightful analytics, Hive empowers businesses to deliver high-quality live video events, engage employees effectively, and optimize the overall digital experience. With its seamless integration and cost-saving capabilities, Hive Streaming is a valuable tool for organizations looking to maximize the impact of their internal video streaming initiatives.
To discover how Hive Streaming can support your organization in maximizing DEX, reach out to us or book a free demo. Elevate your digital employee experience and unlock the full potential of your internal video streaming initiatives with Hive Streaming.
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