Employees Gone = Customers Gone
July 25th, 2007Quotes of the day – on selecting and retaining the right employees:
If you’re losing employees, you’re losing customers.
On average, American companies lose half of their employees every four years, and half of their customers in five years.
This suggests that employee attrition may have a significant impact on customer loyalty.
While every loyalty leader’s strategy is unique, all of them build on the following eight elements:
- 1. Building a superior customer value proposition.
- 2. Finding the right customers.
- 3. Earning customer loyalty.
- 4. Finding the right employees.
- 5. Earning employee loyalty.
- 6. Gaining cost advantage through superior productivity.
- 7. Finding the right investors.
- 8. Earning investor loyalty”.
– Frederick Reichheld, author of The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value
