What can we measure to determine whether your service culture is improving?
Measuring profit, market share and top-line revenue are lagging indicators. And employee engagement, loyalty and satisfaction scores, aren’t captured every day. Customer feedback can be measured in real time. But it’s the number of new ideas and new actions that drive everything forward.
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Below is an Autogenerated Transcript
How would you know if your culture of excellence in service is getting stronger? What can we measure and track, that will let us know that the culture at ABC of getting better and better and better and better and better is actually working? How many of you saw Tom Cruise in the movie Jerry Maguire? Do you remember that famous scene when he’s holding the phone and he’s yelling into the phone “show me the money”?
Top line revenue, bottom line profit, share of market, share of wallet shareholder value, Sir. The problem with these measures is that they are lagging. They come AFTER all the service you provide. They’re valid but they come LATE. So what would be a leading indicator that will let us know we’re going to get the money? Well, that would be shown by our scores, satisfaction score, employee engagement score, loyalty index. If they’re all going up you’re going to make the money. But you don’t do that every day.
You don’t sit there and look at those reports all the time. So what would be a leading indicator that would let you know that right now, right now, right now, right now, we’re doing better?
Ah, that would be feedback, compliments, five star review, online attaboy, thumbs up. “Dear branch manager, I want to compliment”. “Dear CEO, your person took such good care of me”. If you’re getting a lot of compliments, that’s going to show up in your survey which will show up in your finances.
Now how do you get a compliment? ABC leadership, come on ABC Day-2017 Dubai, how do you get a compliment? You do not get a compliment if you only do what was “expected”. You’re not going to get a compliment by doing what you’re already supposed to do. Somebody has to come up with an idea that would serve someone else better create more value. And the idea is not enough. You’ve got to put the idea into action.