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I’m doing a program next week on “Embracing Change.” One of my slides asks: Fix What - Offer What - Change What - Improve What - Focus on What? For many companies defining the “WHAT” is a big problem. I have always believed EVERYTHING … decisions, products, services, policies and procedures revolve around the customer. Years ago, I made the statement, “The day we forget we are in business for the customer, is the day we start going out of business.” I believe that statement as strongly today as I did then.
So, we have a 2-fold objective: We have to service the customer as best as possible and to do that, we need talented, trained, polite, and efficient employees. I have found that numbers can help us considerably in deciding on “WHAT” needs to be addressed. First, let’s start with the customer. Here are some numbers that may shock you:
91% of unhappy customers will not willingly do business with you again.
96% of unhappy customers will go somewhere else and not let you know why.
78% of consumers bailed on an intended purchase because of a poor service experience.
67% of customers hung up the phone out of frustration they could not talk to a real person.
80% of companies say they deliver "superior" customer service but only 8% actually do.
80% of customers say smaller companies are better at customer service than large companies.
It is going to take, as I said, talented, trained, polite, efficient employees to address and handle all those issues. So, how are we doing with managing our employees?
75% of the workforce listed their immediate supervisor as the most stressful part of their job.
46% of the employees who voluntarily quit their jobs do so because they don’t feel appreciated.
44% of employees plan to change jobs in the coming year because of stress.
75% of the reasons for employee turnover can be prevented.
95% of managers today say the right thing. 5% actually do it.
Now that you know these numbers, maybe you can determine “WHAT” you should be working on to take your company to the next level. Here is another stat that might help you: 94% of employees stated if a company invested in helping them learn, they would stay. Investing in your employees, improving their knowledge and skillsets is a WIN-WIN, in my opinion. It costs a lot of money to replace an employee. Your profits are walking right out the door and headed to your competition, when all you had to do was help them better themselves.
Another one of my slides in my upcoming program states: THE BIG LIE – “If you do what you’ve always done, you’ll get what you’ve always gotten.” REALITY - “If you do what you’ve always done, you’ll be gone.”
You have to constantly be improving and figuring out what it is your customers want. Let me say it another, rather BLUNT, way: Companies either change or they DIE. As stated by the John M. Olin School of Business at Washington University – “10 years from now 40% of the Fortune 500 companies will be gone.” A lot of big companies are going to die over the next 10 years because they didn’t change with the times.
It’s time to figure out the “WHATS” that need to be changed at your company. Just remember, your customer is the driving force for all decisions.