Every couple of years, Gallup releases its State of the American Workplace annual report on trends in the U.S. working population. The report places a particular emphasis on employee engagement and it highlights that in order to have engaged customers, companies first must engage their employees. According to Gallup, this is proving to be extremely challenging in businesses of all sizes across America…On that note, we’d love to see a more recent version of this report that accounts for the fact that so many employees now work from the comfort of their home due to the ongoing COVID-19 pandemic.
Key findings from Gallup reveal:
- Employee disengagement costs American businesses between $483 to $605 billion per year.
- Nearly 70% of the American workforce is considered to be disengaged (in other words, only 3 out of your 10 employees are fully engaged at their jobs – YIKES!)
- Disconnected, underperforming firms in the bottom quartile of employee engagement severely lag their more actively engaged top quartile peers as they experience:
- 22% lower profitability
- 21% lower productivity
- 10% lower customer satisfaction
- 41% higher defects
- 25% higher employee turnover
Say it ain’t so! Such apathetic employees negatively influence co-workers and damage client relationships to destroy company performance.
Whatever happened to the days of maximum collaboration, frequent communication, and tight camaraderie at the company foosball or ping-pong table? If you’ve ever grinded at a start-up, you know what I’m talking about!
So the question becomes, how can you as a business owner or executive overcome employee disengagement and improve financial and business results?
Well, the business growth advisory and customer experience strategy consulting practice and research team of RevSherpas finds that industry leaders are choosing to equip their staff with superior Customer Relationship Management (CRM) technology and simplify, standardize, and streamline their core business development, sales conversion, client onboarding, ongoing marketing communication outreach, customer service, and client retention processes.
Serving as the centralized data hub, knowledge repository, and business intelligence tool of the organization, CRM provides a clear, comprehensive picture of client, prospect, and partner relationships for all employees, regardless of their role in the front, middle, or back office.
Compared to the 1990s and even 2010s, you’ll be amazed at how many high-quality, low-cost, and easy to implement CRM solutions there now are that are exclusively built for small to mid-sized businesses.
Furthermore, CRM empowers all employees to harness the necessary insights to foster more efficient information sharing and more effective decision making in order to exceed client expectations and deliver optimal levels of service. With CRM, administrative search time and costs are reduced, as employees know where to go to get answers. Plus, no one wants to be known as the individual whose missing key client interaction notation resulted in the sales team being unprepared in route to botching a huge deal. Therefore, employees develop a greater sense of ownership, pride, and accountability in updating CRM and leveraging it as a productivity and performance enhancer.
As employees become more engaged with CRM, customers will certainly begin to notice the elevation in client service levels. In particular, customers will notice how the employees they interact with are much more focused, committed, and responsive compared to the competition. In a nutshell, a more engaged workforce at all customer touchpoints leads to a more engaged, loyal client base that is more likely to make repeat purchases, promote the firm’s brand in the marketplace, and actively send referrals to significantly grow revenues.
“RevSherpas…Client Focused. Elevated Results.”
Yes, that’s our motto, but the secret to customer-driven growth and delivering a world-class, differentiated customer experience that many firms repeatedly ignore is that your employees need to be locked in, fully engaged, and fired up to go to work and serve your client base every day. The reality is that without efficient business processes in place, your employee engagement will stagnate, and thus your deals won and customer service will suffer as well.
After all, happy, motivated employees = happy customers!
If you’re a small business owner struggling with increases in employee disengagement or staff turnover, let’s talk and devise a gameplan before your client service levels and market share erode even further!
*** Let’s commit to one another ASAP that our respective firms will not be one of the companies going forward where only 30% of our staff is focused and engaged at work! That is absolutely unacceptable and not what our increasingly demanding clients, partners, and investors deserve! ***
Please leave a comment below if you concur.