Engage Your Staff For A Better Bottom Line Performance
People Performance Management (PPM) is an emerging field focused on achieving sales
and other business objectives by forging a strategic link between external and internal marketing. No marketing strategy can achieve optimal efficiency without motivated employees and resellers committed to delivering your business promises. PPM is the process of engaging all employees including both non-customer contact employees (warehouse, drivers, clerical) as well as those that have front line employee contact like retail shop assistants or call centre teams. Studies by the Forum for People Performance Management (North Western University Think Tank) show that:
Non-customer contact employees who are engaged with an online rewards system like Power2Motivate can increase bottom line performance by as much as 22%!
PPM starts by establishing clearly defined employee performance objectives that are aligned with the overall corporate goals. If all employees work towards achieving their goals they will clearly be helping the company as a whole to meet its overall objectives. Corporate alignment and engagement in their jobs represents a powerful force that will dramatic improve customer perception of that company and in turn increase overall financial performance.
Its a fact that companies with engaged employees deliver greater corporate performance results than those that dont. Its a concept that is actually lived out every day when you have a bad experience with a brand or service that either did not live up to the brand promise you feel let down and more often than not you will do what? Not repeat the experience. For sure, but more often people will by nature tell 9 others about their bad experience. If you are a hotel or a retail store and you upset a customer by not meeting their expectations you now stand to lose 9 more customers, which is a major threat to your bottom line performance results.
If your company has engaged employees with clearly defined policies for ensuring that your organisation exceeds customer expectations, how many new customers could you win? The difference today between winning and losing is your employees (your biggest asset or your biggest liability the control is in your hands to determine which way this goes!)
To further qualify this point the Forum has conducted significant studies that showed that organisations with engaged employees have customers who use their products more, and increased customer usage leads to higher levels of customer satisfaction and subsequent improvement on bottom line performance!
It is an organisations employees who influence the behaviour and attitudes of customers, and it is customers who drive an organisations profitability through the purchase and use of its products.
In the end, customers who are more satisfied with an organisations products are less expensive to serve, use the product more, and, hence, are more profitable customers.
To bring this into a better example the Forum conducted research on the impact of employee performance within the hotel industry with the following summation:
There is a direct, measurable relationship between the employee and customer perceptions of the hotel brand and customer spending behaviour.
The key drivers of brand value to customers can be identified and linked to customer behaviour. The dimensions that drive brand value to hotel customers are fast and efficient check-in, employee efforts to satisfy customers, hotel options and amenities, and precision in service. These drivers of brand value are consistent across a set of six hotel locations studies.
Customer perceptions of the brand and the dimensions that influence it have a direct and positive impact on how much money customers spend per hotel visit. A 10% increase in one key driver, the extent to which employees try to satisfy customers, translates into a 22% increase in customer spending.
Incentives play a key role in helping to drive higher levels of employee engagement companies are starting to see/realise the value of human capital including the need to not only retain their employees but truly engage them to maximize employee satisfaction as well as end customer satisfaction. Incentives play a significant role in help to align employee attitude and action with these goals, if you want to increase your bottom line performance then your employee engagement levels are the first place to begin.
by: Kyla Sidney
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