Stuart Levine of Stuart Levine and Associates recently penned a fantastic article in the Credit Union Times highlighting the connection between satisfied employees and member retention. In this article Stuart points out that “… satisfied employees create loyal customers who in turn become apostles for your business. These apostles are your best customers. They create new customers, and they drive profit and growth. Customer loyalty is a direct result of customer satisfaction. Satisfaction results from the knowledge that the company is delivering value to them. Value is directly tied to employee productivity, which is the result of employee loyalty and engagement. Satisfied, loyal and productive employees create value for customers.”
Mr. Levine’s article brought two prominent thoughts to mind, straight away.
Reflecting on a Decade –
2013 is a big year for Passageways because it marks our 10th year in business. Moreover, it marks our 10th year of growth and profitability. Why is it that we have been able to continually grow and be successful each year, you ask? There is a simple answer to that question and Mr. Levine said it himself in his article in the passage above. We believe in our employees, here at Passageways. We strive to empower them to make their own choices and provide them the tools and guidance to make those choices well. We also believe in having fun at work and making sure our employees are happy. As a direct result of this, our employees are among our biggest fans and in return they work hard to make other fans out of our customers as well. Our growth could easily be tied to the value our people create for our company and we think that is something to be proud of. Our employees, the Pathfinders, go the extra mile to help our customers. Working late, taking calls after hours, making sure that when you sign on with Passageways and give us a timeline, we do everything in our power to make your project as successful as it can be. People create value, and we have great people.
Facilitating Engagement – Encouraging Efficiency
Mr. Levine went on to posit in his article that “Employee engagement is related to their satisfaction…” The beauty of our products is that typically they have the benefit of touching the entire organization. From the tellers, to the account managers, to the CEO, and your Board of Directors our products offer the perfect vehicle for your employee engagement efforts. Integrated ever-so-subtly into our software are the tools you need to carry out your mission to engage your employees. Our focus is on information sharing and organization as well as communication, but the social tools within our software exist for a higher purpose. As Mr. Levine says, “Employee productivity drives value. Productivity can be measured by employee time or labor cost to produce a product or service. But employees are much more than units of cost. The employees facing the customers are the front line of service. They can be listening posts of the organization, feeding back to management important information to be used for continuous improvement in customer service and satisfaction.”
Important Social Tools That Support Productivity
- Status feeds allow users to share their work and work related thoughts with their co-workers. Sometimes without extra strokes of the keyboard as new content is created is posted to these feeds so the productivity is visible to all.
- The ability to “Like” resources and work taps into a familiar instinct for users while providing validation of those resources at the same time.
- Conversations in easily moderated forums allow your employees to discuss important issues, relate to goals and missions, and keep abreast of organizational initiatives.
- Celebrate the success of your employees by sending them customized recognition pieces that can include your branding. Use the portal to let everyone know who is going the extra mile.
The true beauty of these tools is that they aren’t the focus of this software. Everyone is telling you how important social tools are, but the fact is, you aren’t going to go buy your organization Facebook. You can’t afford to have your employees tweeting all day. Your social tools shouldn’t be the focus, but instead a support to your organizations attempts to improve productivity and efficiency. Social tools are merely the vehicles with which you can deliver your message and engage your employees. Partnering social tools alongside critical operational tools aimed at helping disseminate important information only makes those tools more desirable, used, and therefore effective for your organization. As a leader these tools offer a chance to not only engage your employees, but also to monitor the general pulse of the organization. The value becomes self evident in the work being done around you through employee engagement and process efficiency, which translates to improved member service. Improved member service means improved member satisfaction which in-turn means member loyalty. As Stuart says, loyal, satisfied members quickly become another line of promoters, driving business to your organization. Invest in your employees and they will pay dividends.