THE CHASE: Focusing on retaining your employees and clients can increase revenue 400% (Forbes), increase profits up to 125% (Fundera), respectfully.

Did you know that Richard Branson is the founder of over 600 Virgin Companies; and he is famous for saying, “Train your people well enough so they can leave, but treat them well enough so that they will stay.”

The Employee (your heartbeat)

According to a LinkedIn study, 94% of employees surveyed would stay at their position if they had some sort of education and planning. Why?

It sends a powerful message in many ways:

• First of all, you are building a personal connection. You’re sending a message that ‘you are important, your life is important, your family is important’. Because people are at work not for you, but themselves and their lives, as well as the people in them. Remember people spend over 70% of their lives between sleep and work related activities. That leaves little time for themselves or family
• Second, they begin to see the organization or the company as something beyond a place to receive a paycheck. Barriers begin to breakdown, and preconceived notices begin to shift. They see you as a human being and allow you to make a more personal connection.
• Third, you give them hope. Hope is a powerful thing. There’s more to this job then me doing the work, there’s a future, there’s information I may learn more and produce more for themselves, and the people that they love. And by the way, they really seem to care about me.

And it when they see you care, that is when you have a different level of happy employees. And that happiness generates loyalty.

The Client (your lifeblood)

Let’s face it, most companies don’t do a good job after the sale. The focus is on revenue, revenue, revenue and after they get it, they spend a fraction of the time engaging clients like was done prior to the sale. Sadly, this is like many relationships, which is why so many relationships fail. And in the failed relationships, there’s loss of revenue, brand and profit. But it doesn’t have to be that way.

According to a study by Rosetta Consulting, engaged clients buy 90% more often, and spend up to 60% more per transaction. Take these numbers and use them against your Lifetime Client Value and see what that turns out to be. I bet it will be staggering and shock you.

THE NET: Investing in your employees and engaging your clients can accelerate revenue and profit growth.

So I want to encourage you to think about how to implement this critical yet highly overlooked need for your company. If in your thinking you’d like to chat about it, click here