In a perfect world, you’d hire great workers, grow them into exceptional employees, and keep them… while also magically attracting (and of course, affording) new brilliant minds. But in the real world, an attrition management strategy is a very real necessity for every company, be it a call center with a high turnover rate or an organization rooted in knowledge-based roles.
In the case of call centers, you want to maintain a set attrition rate, not drastically decrease it (an unrealistic goal for a role that implies a certain amount of turnover). But if your business relies most heavily on strategic roles, naturally you want to get your attrition rate low. The latter calls for a new approach to attrition management — namely, employee engagement.
NPS for employees
Smart marketers know that the Net Promoter System (which uses Net Promoter Scores (NPS)) is an integral part of the Customer Experience. By surveying your customers at the right times and with the right questions, NPS informs improvements to the existing Customer Experience. It works somewhat similarly with employee NPS (ENPS) — “somewhat” being the operative word here.
The Forrester Research report, How To Track Your Company’s Progression Toward Customer Obsession, details the success fast food chain Popeyes had with ENPS. Popeyes has 6 culture principles (e.g., “Passionate about what we do,” “Personally accountable”) that are included in all managers’ performance reviews. To track whether that was having an impact, Popeyes tracked employee engagement scores. And evidently, beloved fried chicken purveyor Popeyes has higher-than-average employee engagement scores for its industry, with its top 25 percent of leaders having engagement scores of 89 percent (20 percentage points above the industry norm). Engagement scores were 11 percentage points higher among team members who worked for managers in the top quartile of performance evaluations.
Aside from reminding us that Popeyes has the best chicken (and alerting us to the level of their employees’ engagement), this tells us that ENPS is an important metric. With ENPS as a cornerstone of your employee surveys, you’ll gain greater insights into the people who make up your organization — what makes them tick, what keeps them around, and what causes them to up and leave.
Empower and engage employees at every level
Your company is only as good as its people — the workhorse in the call center, the consultant in the field… the person diligently delivering interoffice mail. The key to reducing attrition isn’t (just) treating your great employees better; it’s giving every worker the tools, technology, training, and opportunities for fun they need to feel motivated, validated, and satisfied at work. Employee feedback — both the means of gathering it and the importance of it — has evolved, and companies need a better option than the dreaded year-end performance review.
The Medallia platform uses frequent, anonymous “pulse checks” to give HR and management a better understanding of team dynamics and areas that employees believe need improvement. Issues are prioritized based on business measures and outcomes, and all employee feedback is directly linked to revenue and profitability. Perhaps best of all, Medallia collects and links employee and customer feedback, allowing companies to focus on building a customer-centric culture while also engaging employees the way they want to be engaged.
Investing in employee engagement leads to 3 great things: a better Customer Experience, an upswing in productivity, and (here’s the kicker) a reduced turnover rate.