Shawna Williams //May 11, 2012//
Is your organization hemorrhaging employees – like rats off a sinking ship? OI Partners’ recent survey reported that 90 percent of companies are worried about losing key employees. In 2009, it was reported that employee turnover cost U.S. businesses an estimated $300 billion. This includes, but is not limited to, the intangible expense associated with damaged customer relationships. What is your projected cost of a lost customer? I’ll go out on a ledge and propose that these two concepts go hand in hand.
High Turnover + Lost Customers = Loss of Profitability
Here are five ways to build, strengthen and retain your customer relationships.
Has employee retention issues impacted how your organization builds, strengthens and retains customer relationships? In what other ways do you maintain key relationships with your customers?