Using STAMP For Employee Success Management
We live in a time when employee loyalty often feels fleeting. In Gallup’s 2017 State of the American Workplace report, it’s estimated that “more than half of employees (51%) say they are actively looking for a different job or watching for opportunities.” What would happen if your top producers left for one of your competitors? Do you have a strategy for making sure that doesn’t happen?
Employee turnover is incredibly costly for an organization – due to both the resources expended to hire and train new employees and the resulting loss of expertise and consistency. Companies with high churn rates often experience downward trends in customer satisfaction, as long-term customers are continually partnered with new, less experienced account managers or points of contact.
Therefore, building and retaining a highly productive, highly engaged workforce is increasingly becoming a top priority for business owners, executives, and HR leaders. In the past, creating a winning strategy for achieving that goal often seemed like a moving target, but today, advances in technology are arming decision-makers with dependable metrics for measuring “employee sentiment” and “customer sentiment.”
Employee Success Management
STAMP empowers organizations to systematically analyze what’s most important to their customers, measure performance in key categories, and implement remediation and retention plans – down to the individual client level. The result is significantly improved renewal rates, increased recurring revenue, and maximized customer lifetime values.
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