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As this New Year picks up steam, many companies accelerate the search for ways to build on their success and become more profitable. Wise companies always begin the process by reflecting on the entity that makes their existence and everything else possible – the Customer! Research has repeatedly shown that the cost of customer defection is very expensive whilst customer retention is extremely profitable. So what is a company to do? Consistent, positive, problem-solving and need-satisfying interactions between employees and customers are the key to customer retention. A company can be doing an outstanding job with products, pricing, placement and promotion, but all of that work can be swept away with one bad experience a customer has with an employee. So what motivates employees to go the extra mile and provide an exceptional customer experience? The answer is simple – employees will show incredible commitment and creativity in being of service to the customer when they care about their company and are fully engaged in their work. But why would people care about their company? Another simple answer – because their company cares about them! Policies, procedures, and management behavior are aligned behind a common purpose – to create an environment where employees are trusted and empowered to do the right thing by the customer and the company. But, simple does not mean easy. The road to employee engagement starts with senior management being willing to ask the following questions.
If you were to rank your organization, how would you do? Are you an 8-10 with fully engaged employees thriving in their work and roles? Or is your organization on the brink of employee bankruptcy, who rather than shining out proudly for their company and themselves, are merely showing up until they find something better. If the results from these questions are a wake up call for you and your management team, you are not alone. In his recently released book: Do the Right Thing: How Dedicated Employees Create Loyal Customers and Large Profits, James Parker, the former CEO of Southwest Airlines, the company with the most consistently high levels of customer satisfaction in the industry, states: "We didn't try to keep it a secret. In fact, we told the whole world. Our competitors just didn't believe us. The key was our people. They were dedicated. They were spirited. They worked hard. They understood the mission of our company and believed in it. This was their company, and they were determined that it would succeed." So here is the lesson: service excellence results from believing in and valuing employees who reciprocate by believing in the company and valuing the customer. This leads to customer retention, sustained success and increased profitability. My goodness – James Parker was right – there is no secret!
Important Note: Permission is granted should you wish to forward this newsletter to a Business Associate or Friend. © Copyright David McNally 2008. All rights reserved. |
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"10 Questions Every Company Should Ask."
