There are a bunch of studies pointing out that when employee satisfaction is high so is customer retention. It doesn't take a huge logical leap to see, therefore, that it might pay in revenue and reduced marketing costs to make sure that employees are satisfied--and that the right core values might be a big piece of that puzzle. The causal link is straightforward:
The Right Core Value, Driven through the PxP Organization-->Satisfied Employees-->Great Customer Service and CRM--> Customer Retention--> Increased Sales and Less need to Acquire Customers (reduce marketing cost).
While I haven't yet checked it out, I'm told that TARP has studies that indicate this holds true particularly for family-owned businesses, in which the core values are steadfast and honored, and in which the fundamental drive is to create longevity rather than quarter on quarter returns.
Thursday, November 23, 2006
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1 comment:
This was short and simple but very informative! every business man and CEO should know the importance of this. i have already shard this with face book!
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