Actively Disengaged Employees… 22% In TOTAL Revenues!
Customer satisfaction drives customer loyalty… and customer loyalty drives profitability A 5% increase in loyalty among your best customers… Can produce a profit increase of 25% – 85% I hate you I don’t care about you I love you 100% 90 80 70 60 50 40 30 20 Extremely Dissatisfied Somewhat Dissatisfied Slightly Dissatisfied Satisfied Very Satisfied Zone of Defection Zone of Indifference Zone of Affection Loyalty Customer Satisfaction Terrorist Evangelist
Key Drivers of Customer Satisfaction and Loyalty T olerate N othing L ess From: Practice What You Preach by Maister Global study: 16 countries 529 companies 15,589 respondents Financial Performance Quality P&S & Customer Relationship Employee Satisfaction Empowerment High Standards Long-term Orientation Enthusiasm, Commitment, Respect Training & Development Fair Compensation CR= 104.12% increase in profits CR= .404 CR=.334 CR=.277 CR=.275 CR=.249 CR=.280 Coaching CR=.285 CR=.371 CR=.365 CR=.191 CR=.247
Highly satisfied and engaged employees can drive as much as a 189% increase in profitability! Culture = Cash
Staff agrees to be managed and coached to strictly enforced standards of performance and quality work.
Teamwork is mandatory, not optional.
Excellence in customer satisfaction is an enforced standard.
Personal and professional growth is a nonnegotiable minimum standard.
All team members must show a sincere interest in the customer and a sincere desire to help them.
The primary focus must be on delivering quality work and building strong customer relationships.
Demand excellence and refuse to tolerate mediocrity.
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Let’s take a look at an example of a company that has taken these standards of professionalism and codified them into a set of values that drives their business. As you read the following GE leadership values…
Are passionately focused on driving customer success.
Live Six Sigma quality, ensuring that the customer is always its first beneficiary, and using that concept to accelerate growth.
Insist on excellence, and are intolerant of mediocrity or bureaucracy.
Act in a boundaryless fashion, always searching for and applying the very best ideas regardless of origin.
See change for the positive growth opportunities it brings.
Create a clear, simple, customer-centered vision, and continually renew and refresh its execution.
Create an environment that stretches excitement, informality and trust; rewards improvements; and celebrates results.
Demonstrate—always with infectious enthusiasm for the customer—the “Four E’s” of GE leadership: the personal Energy to welcome and deal with the speed of change; the ability to create an atmosphere that Energizes others; the Edge to make the difficult decisions; and the ability to consistently Execute …
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