Date: 20th August 2014
Venue: Le Quadri Hotel Ball Room, UCSI (North Wing)
Employees Engagement Towards Customer Loyalty & Business Profitability
Significant shifts in the global economy have accelerated the need for organizations to find innovative ways to address new technological, demographic and marketplace realities.
These shifts have also forced companies to reevaluate costs associated with talent, necessitating a need to do more with less.
While new strategies are executed in response to these changes, high workforce performance and organizational success must be maintained. Key to ensuring this is the introduction of processes that will measure and improve employee engagement.
Research has consistently shown that employee engagement is powerfully linked to a range of business success factors such as:
- – Employee performance/efficiency
- – Productivity
- – Safety
- – Attendance and retention
- – Customer service and satisfaction
- – Customer loyalty and retention
- – Profitability
When an employee is engaged, they are very much your biggest brand advocates. They preach the benefits of your products and are enthusiastic in dealing with the public. These employees want the organization to be successful, not just themselves. Your customers first point of interaction with your organization is often through your employees. This first interaction is often make-or-break for first time customers, if you fail to make a good impression they may leave and never return.
High engagement among your employees improves morale, reduces turnover, and improves profitability. In fact, according to research from a Hay Group study, companies with highly engaged workers grew revenues two and a half times as much as those with low engagement levels. Contrasting this with disengaged employees, Gallup found that actively disengaged employees erode an organization’s bottom line, while breaking the spirits of colleagues in the process. Within the U.S. workforce, Gallup estimates this cost to the bottom line to be more than $300 billion in lost productivity alone.
Not only this, but it betters customer experience and leads to improved customer loyalty. Studies have found that companies with high employee engagement scores had twice the customer loyalty (repeat purchases, recommendations to friends) than companies with average employee engagement levels. (Source: Are They Really ‘On the Job’?, Pont)
This seminar will discuss how we could increase employees’ engagements in organizations to achieve business profitability.