In every organization or business, communicating a clear message to people has always been a challenge. So how can you improve your external (customer) and Internal (employees) communication? What unique strategies can the organization implement to build relationships with your employees and customers ? What personal connection strategies are there to increase employee and customer retention rates?
Increasing Employee retention
Employees are your company’s biggest asset. They play a significant part in ensuring the organization’s success. In order to succeed, they require a healthy environment to perform. So, many factors at work can increase employee retention and maintain work ethics. This includes the economy, generational factors, corporate cultures, sweeping changes in the workplace, and much more.
This means that the company needs to stay transparent, improve their communication and personal connection with its employees. Similarly, it is important to recognize the employees’ hard work, effort and appreciate them accordingly. If this isn’t communicated effectively, employees may leave the organization and the turnover can impact the organization financial status negatively.
It’s estimated that a lost employee can cost at least 6 to 9 months of the employee’s salary on average. This is due to the cost of recruiting, hiring, and training a new employee. In addition, the overtime covered by the existing workers to fill the vacant position drives costs up.
In order to retain talented workers, you need effective communication and personal connection strategies to increase employee retention at your own company.
1) Keep the communication line open.
Good communication and personal connection within an organization is critical. Therefore, team members should be able to express themselves and contribute to the progress of the company. In addition, you, as the head of the team, should also be open to feedback. So, create a culture where staff members feel comfortable sharing their opinions.
2) Empower your team and give them room to grow.
Aim at empowering your team members as much as possible and help them feel like they are competent in their respective areas. Everyone should feel responsible for the company’s success. Therefore, empowering communication and personal connection will cause employees to bring their A-game every day. Providing educational opportunities and properly communicating this to your employees gives them the incentive to stay within the organization for a long time.
3) Conduct job analysis audits.
Conduct job analysis reviews with the following personal connection assessments test to identify each employee’s competency level:
- Hard skills assessments. It includes the ability to effectively measure job knowledge and skills giving your organization the right insights needed to hire, train, develop and promote employees. Some of the skills you should check are Computer literacy, IT, Clerical, Accounting, Sales, Phone communications and personal connection.
- Behavioral assessments. It includes the ability to interact, communicate and make personal connections with other team members. The assessment test provides a tool for increasing personal awareness and improving individual and group communications. Examples of skills tested are voice, pace, word formation and body language.
- Job simulations assessments. Candidates are presented with a task that is similar to work scenarios to perform. They are required to perform interventions or actions based on the situation presented. Examples are Call centers, Manufacturing, Sales and Marketing and Managerial simulations.
- Cognitive reasoning assessments. It evaluates a person’s ability to think and solve problems. Cognitive ability plays a crucial role in an employees job suitability and success score.
This helps with the general overview of the company’s strengths and weaknesses. That way, it’s easier to point out areas that need improvement and the departments that are performing well.
4) Introduce employee training and development programs.
As time goes by around the workplace, there is a risk that everyone, at some point, will run out of innovative ideas and techniques. With that, there’s possible employee turnover. In order to avoid that, you should provide workplace-training programs. People are your greatest asset and should challenge them to get out of their comfort zone. Let the whole team be involved, including the managerial team.
5) Provide equitable or a fair pay system.
Offering a competitive wage can help your employees feel like their work and time is valued. Fair pay does not always mean paying your employees as much or more than other companies, it means that employees are treated right and are paid for the value they produce for the company. Therefore, not every job is the best fit for everyone. So when an employee feels underpaid and a company is truly paying them what they are able to for the value they are providing, it may be best for that employee to leave.t
Increasing Customer retention
If you are looking to build a thriving business, you need to take care of your customers. Clients can make you successful or drive you out of business. The critical difference lies beneath how you treat them, communicate and make a personal connection with them. So focusing on acquiring new clients is great, but If you are careless with the existing ones, it will cost you in the long run.
You cannot afford to underestimate the power of a loyal customer. According to marketing metrics, 68% of the significant sales come from recurring customers, while only 5-12% comes to the new customer. In simpler terms, the difference between organizations that grow and those that don’t is customer retention.
Here are a few practical customer retention strategies you can use to help you keep your existing clients happy on a long-term basis and increase your profits.
1) Meet all the customers’ expectations.
Customers are people who need their problems solved. You can research your target market and learn what their expectations are. You should create products or services that give clients something exciting to expect. Then, pay attention to their feedback, inquiries, and complaints and improve for the best. In addition, you should always communicate with them on a personal level and set expectations you can meet. You are guaranteed an increase in customer retention.
2) Build trust with the customer by being honest and transparent.
Successful businesses are built on trust. Therefore, you need to initiate a relationship between you and your clients to give them room to trust you. In order to build trust and a personal connection with your clients, you need to communicate with honesty and transparency. So put all the details on the table and let the client understand what you have to offer. That includes payments and return policies to any cases during the transactions.
3) Personalize follow-up engagement with the customer.
Every time you onboard a new customer, ensure to keep their details (with their consent) to personalize future communication. The more information you have, you can easily create practical communication and personal connection follow-up strategies. Therefore, don’t underestimate the effects of personalization as it has been tested and verified as a relevant way that delivers a high impact on return on investment.
4) Reward your most loyal customers (VIP treatment).
It’s to your advantage to know who brings the most value to your business. This way, you can allocate your time and resources efficiently to personally connect with them. For instance, you can introduce attractive incentives to reward your loyal customers to increase their loyalty to the business. This is one of the best ways to ensure customer retention by communicating to them that they are special.
5) Be passionate and engaged in your business.
When it comes to your business, be fully invested in communication and personal connection. You should genuinely care about your clients and value their needs. In addition, do your due diligence to learn about new methods or technologies that might benefit your customers. Be responsive to their concerns and bring innovative solutions to their problems. So communicating and focusing on personal connecting with the client is the secret to customer retention in any business.