How likely (or not) your customers and employees are to recommend your business is a pretty simple but a concrete way to think about how well you’re doing in keeping people satisfied with your service. It’s also the backbone of the metric used by more than two thirds of Fortune 1000 companies around the globe, known as Net Promoter Score (NPS).
Put simply, NPS is derived from one key question that ultimately determines how likely a customer is to recommend your business to a friend or family member.
On a spectrum of 1-10, the ratings are grouped as 9-10 (‘promoters’), 0-6 (‘detractors’), with a neutral score for those rating 7-8 (‘passives’).
The score equates to the percentage of promoters less the percentage of detractors. NPS is regarded as a particularly strong measure of customer and employee loyalty.
EML uses NPS to understand how our customers perceive us and how we can refine our business model to improve the customer experience. In the same way, we use the tool internally, surveying our employees about work culture and their perception of working at EML (would they recommend it as a workplace to others?).
A healthy workplace culture feeds directly into external relationships. Engaged and satisfied staff interact more positively with customers, therefore improving both their experience and perception of EML.
A good culture with engaged employees will typically translate to satisfied and engaged customers.
That’s even more reason to keep score.
The Together magazine explores the latest trends, developments and research in the workers compensation landscape so that together we can all support people to get their lives back.
This article features in the latest version - download via the below link.
Or view earlier editions of Together Magazine via our Member Benefits page.