As the year draws to a close, I find myself reflecting on the year that’s wrapping up and the year ahead. One of my core values is “it’s all about the people”, so that leads me to think about all of the customers and employees that are impacted by my clients. Folks, if you take care of them your business will flourish. Make your plans to establish a culture of employee engagement and a culture of customer experience in 2020. These articles will give you the road maps to do just that!
I wish each of you a healthy and happy holiday season.
A few days ago I was meeting with some clients and our conversation turned towards growth and how to manage it. I’ve seen so many companies grow and maintain or even increase their profits proportionate with their revenue. This is ideal! However, too many business owners only concentrate on top line growth and don’t pay attention to the “quality” of their growth or bottom line.
In a conversation with a client the other day, we were talking about how impressed he was with his son’s school and their level of accountability for their students. The students have to earn the right to be in advanced classes and if they don’t, they are bumped back to regular classes. So I asked him if he applied this same practice in his business…any guess what his response was?
Have you ever thought about the impact of attrition on a business? Attrition comes from both clients and employees and both can have a tremendous impact on the bottom line…and not in a good way in most instances. In this month’s newsletter, we’ll hear from a FPC client who wrote an article on what losing clients cost his company, as well as an article that discusses the impact of employee attrition and a formula to calculate the actual costs associated with these types of losses. As you read both articles, I hope it will prompt you to think about your company and your own retention plans.