employee retention has a significant value line affects the margins, profits and shareholder value. The impact of loyalty is expressed through the value chain that are in the delivery of the value proposition. Although storage is a factor of liquid in today's economic climate remains loyalty is a critical success factor in many parts of the value chain.
The Value Chain is a concept popularized by Michael Porter in his 1985 book "Competitive Advantage:Creating and sustaining superior performance "(The Free Press). In short, the model of the value chain is the host of sequential and parallel activities that are exchanged within an organization for the production of competitive products and services on market value of the process.
A member of the value chain provides logistical support for the creation and distribution at the value proposition to its customers. A value proposition is the promise of goods or services of a company isto their customers in exchange for a fee. For example, Southwest Airlines found the value proposition on the Southwest Airlines Web site reads:
"When you get your passengers to their destination when they arrive there on time, at rates as low as possible, and make damn sure that they have a good time to want to do, people will fly the airline."
Southwest Airlines analogy gives us a clear example of a very successful business modelwith an optimal value chain, a clear value proposition and employee retention violent.
The impact of employee retention is either strengthen or erode the value of the components of the value chain. Imagine your customer disappointment when you learn a new sales representative for the third time in several years due to revenue associated with it. Inbound Customer Contact Center supports the battle of the service levels of the staff meeting in front of the traditionally lowLoyalty. The downside risk of this activity is a loss of customers, sales, market share and ultimately profits due to errors in the human aspects of the supply chain.
Unlike lower employee retention, increased loyalty representing a growth of intellectual capital, enduring levels of quality and service. Management expert Peter Drucker Fritz Machlup popular concept of "knowledge workers. The knowledge worker term generally refers to a person who worksproduce more with the brain muscles. This "gold chain" to represent workers with intellectual capital, the legend and tradition that define the physical mind, heart and soul of a society. Their value increases with collective employee retention and loyalty.
How to improve the fidelity of your organization and minimize the risks to the supply chain?
1.Hire for targeting. Assess internal and external candidates, with an emphasis in mind. For external candidates, will begin thiswith making sure the values are usually candidate aligned with the values of society. Follow the narrow value orientation in the correct orientation of the person for the job. This is the enrichment, the chances of success and employee satisfaction.
2.Focus on the growth of employee development. Knowledge workers generally want to expand their knowledge and skills and evaluate internal training, tuition reimbursement to attend seminars and read trade magazines. This activity positionsEmployees at several positions of responsibility within an organization that provides a sound succession management program and philosophy.
3.Compensate competitive. Compensation will be in many forms, and - like beauty - is in the eye of the beholder. financial compensation must be competitive to attract and retain talent. The same can be said for the pension plans, and both require constant attention to your business practices and offers.
4.Build reports.This is the easiest, the cheapest and most overlooked tool in maintaining a loyal employee. Employees are more likely to remain in jobs where they have built a strong relationship with their immediate supervisor. I personally affect them in my own supervisory tasks witnessed first-hand knowledge and can demonstrate that the function of performance. Earn and maintain respect for those who lead, the value of these relationships, and start adhering to the true value in your value chain.
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