In the past decade, as the economy has improved, voluntary turnover has increased from about 17% to 27% of the workforce. On average, over 1 in 4 employees are walking out the door.
People’s opinions of everything are always changing, and while a solid start with continuing effort are part of what it takes to maintain customer loyalty, you can’t forget the details, says Shep Hyken in a CustomerThink article.
In a perfect world, our superstar employees would stay with the team forever. We all know that doesn’t happen.
Businesses spend a lot of time worrying about keeping the sale pipeline full. Can you say that you spend an equal amount of time thinking about and developing current staff members for leadership roles?
By now, you should know that the most profitable customers are repeat clients. Customers you’ve already worked with in the past who have been satisfied by your customer service are way more likely to buy from you again than someone new. And yet, according to an article by Liz Heiman, a sales leadership coach, not even 18% of businesses are making client retention a priority.
Are you asking the right questions to gain the most valuable feedback from your existing clients? Sure, you could send them a survey full of questions in the hopes of getting as much information out of your clients as possible. But you know most are going to take one look at that and decide it’s not worth their time. What if you could get the information you need with just two questions?
Your employees are probably getting called by recruiters regularly. And, they’re likely hearing about the great salaries and benefits they could be scoring at one of your competitors’ companies. How are you going to retain them?
It’s easy to justify departures by blaming the booming economy. After all, this could be an employee’s chance snag that dream job. But, there could be a more ominous reason for turnover at your company.
It’s that holiday time of the year. I’m not talking about how to hire help in advance of the busy season. This post is about how to stop the exodus of employees that happens after the new calendar year starts.
As a leader, it’s your job to maintain the work culture that you and others have carefully crafted. If you want your employees to be motivated and engaged, you have to take action when an employee grossly violates your company's values