Welliba Research Finds Top-Ranked Employee Experience Firms Outperform S&P 500

AI analysis of 25 million data points shows companies with high employee experience see 5% higher shareholder returns.

Mar. 24, 2026 at 11:37am

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According to new research from Welliba, an AI-powered people and organizational insights firm, the top 100 S&P 500 companies ranked highest in employee experience (EX) outperformed the rest of the index by 5% in total shareholder return over five years. The study analyzed over 25 million public data points from 150,000 websites to map EX across the S&P 500, finding that human relationships, not just perks, are the dominant driver of positive employee experience.

Why it matters

This research establishes a direct link between employee experience and financial performance, reframing EX as a key business metric rather than just an HR program. Companies that can effectively track and invest in EX are better positioned to deliver stronger returns for shareholders.

The details

Welliba's EX Index, a 24-factor framework spanning six dimensions, revealed that the top 100 S&P 500 companies in employee experience outperformed the rest of the index by 5% in total shareholder return over five years. This 5% margin can mean as much as $13-15 per share for every $100 of investment, or up to $1.7-2 billion in incremental value for the average S&P 500 company. The research found that human interactions, particularly colleague and manager relationships, are the dominant positive drivers of EX across the index, while poor bottom-up communication is a common blocker.

  • The Welliba report was published on March 24, 2026.

The players

Welliba

An award-winning provider of AI-powered people and organizational insight that conducted the research on employee experience and financial performance.

David Barrett

The CEO of Welliba who said the findings reframe employee experience as a financial variable, not just a people or HR program.

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What they’re saying

“These findings reframe employee experience as a financial variable, not a people or HR programme with soft outcomes.”

— David Barrett, CEO of Welliba

What’s next

The full Hidden Economics report, including company rankings, archetype breakdowns, and the complete EX genome of the S&P 500, is available on Welliba's website.

The takeaway

This research demonstrates that investing intelligently in employee experience can be a measurable driver of financial performance for companies, not just a 'soft' HR initiative. Organizations that prioritize building strong human relationships and addressing communication challenges are better positioned to deliver stronger returns for shareholders.