Self-Reported Intentions vs Actual Behaviors: Comparing Two Employee Turnover Metrics
Reducing employee turnover is an important way to improve how a company performs. It is estimated that employee turnover costs companies 16% of the annual salary (< $35K) of lower paying jobs and up to 75% of annual salary (> $75K) of higher paying jobs. These costs comes in many different forms, including the cost due to […]
![target[1]](https://businessoverbroadway.com/wp-content/uploads/2014/07/target1-100x74.jpg "The Hidden Bias in Customer Metrics")
The Hidden Bias in Customer Metrics
Business leaders understand how their business is performing by monitoring different metrics. Metrics are essentially a summary all the data (yes, even Big Data) into a score. Metrics include new customer growth rate, number of sales and employee satisfaction, to name a few. Your hope is that these scores tell you something useful. There are a few ways to […]
The What and Where of Big Data: A Data Definition Framework
I recently read a good article on the difference between structured and unstructured data. The author defines structured data as data that can be easily organized. As a result these type of data are easily analyzable. Unstructured data refers to information that either does not have a pre-defined data model and/or is not organized in a […]
O Canada… Anti-Spam Law! Are You Ready?
The Canada Anti-Spam Law (CASL) goes into effect this next Tuesday (July, 1). Hat tip to my my good friend and neighboring Canadian, Stephen King, for alerting me to this law yesterday in his post and its implications. In this post yesterday, he notes that violation of this law can result in a $10M fine. He points out […]
Improving Employee Empowerment Begins with Measurement
I read an article last week on employee empowerment by Annette Franz. She reflected on the merits of employee empowerment and also provided excellent examples of how employers can improve the customer experience by empowering their employees; she sites examples from the likes of Ritz-Carlton, Hyatt and Diamond Resorts, to name a few. Before employers […]
Your Product, Future and Employees: Three Customer Experience Pillars of Growth
Customer experience touch points are not created equal. Findings from a study of six B2B technology companies highlight the top customer experience touch points that drive different kinds of business growth. What helps businesses acquire new customers is not the same as what helps them keep customers or improve their share of wallet. Businesses are looking to the […]
Got Empathy?
My best friend went on a family vacation and, upon his return home, retold his vacation horror story to me. He was so upset about his treatment by a major airline that he wrote a 4-page letter to them, detailing his displeasure about his experience. The bottom line is that he missed a connecting flight […]
Customer Loyalty is Alive and Well
I read an article last week on Forbes, Customer Loyalty Is Dead. Long Live Engagement, by Curtis Bingham. He argues that companies need to use customer engagement metrics instead of using customer loyalty metrics. He, however, confuses the meaning of customer loyalty with the measurement of customer loyalty. While he correctly claims that most companies measure customer […]
Beyond the Ultimate Question
Measuring Customer Satisfaction and Loyalty (3rd Ed.)