GetLean

The Customers that HATE you bring in the most valuable insights

 When utilizing the Voice of the Customer to glean insights don’t just target the customers that love you. When you take the time to really listen to the customers that hate you and turn their pains into solutions that is when you actually drive growth for your company.

Why target customers that hate you, you may ask? They have valuable insights on how your product or service can improve and can inspire you to create solutions that are currently not offered in the industry (first to market opportunities).

cust-service1Companies that are customer focused stay on top of customer pains and actually listen to them. They take more meetings with customers and work to turn client requirements into products, services or solutions.

The questions are:

Why do you hate us and what can we do to change that?

What are we doing wrong?

What are your pains?

When you acquire the answers to these questions then you can brainstorm ideas for products, services or solutions that will solve these pains. As a customer focused company you can’t be afraid to ask the hard questions. By turning customers who hate you into customers that love you will not only increase your client base and revenue but also make your competitors run for their money.

Simple Procurement Hacks to realize Savings

To elaborate further on previous article,  “Price focused Sourcing is bad for Business”, I have created a list of procurement hacks for realizing savings. saving-clipart-yTkeraBAc

1) Audit invoices and purchase orders to identify unapproved vendor charges, price discrepancies, and unapproved purchases.

2) Audit vendor database to ensure accurate data, remove duplicate information and ensure vendor has proper approval.

3) Share sales demand and budget data with procurement team.

4) Share inventory data with suppliers and have them do the same.

5) Develop a quality plan.

6) Focus on total cost instead of price.

7) Build strong supplier relationships by working with vendors to improve quality, delivery and logistics; and encourage the use on long-term contracts with quality stipulations and year by year locked in prices.

Are your procurement expenses deteriorating your bottom line? Could your sourcing process use a re-design? Contact me now http://bit.ly/2prHowW

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Talent Management: The Evergreen Learning Culture

 Great employees want to be challenged and learn new things. To increase employee retention and overall workplace satisfaction rates Human Resources must stay abreast of individual skills, learning capabilities, and industry skill trends. training

They should also encourage Managers/Supervisors to offer opportunities​ that allow employees to further enhance their skills, learn valuable new skills, or pursue interests. In house educational programs and ability to attend related conferences and workshops are a great way to build employee confidence and skills. Human Resources should also check in quarterly with employees to see how they are doing and gain insights into their goals, concerns, workplace bottlenecks, et cetera. This information can be used to match critical variables with other employee data for the purpose of optimizing your Talent Management processes.

By utilizing the Voice of the Employee, Human Resources and Managers should collaborate in surveying and sharing employee information for the purpose of creating in-house educational programs that will enhance employee skills.

Employers that encourage an evergreen learning culture reap the following benefits:

  • Increased overall employee satisfaction
  • See improved productivity
  • Reduced process cycle times
  • Improved client satisfaction
  • Greater profits

By actively integrating learning opportunities at the workplace employers will not only enhance employee productivity but also yield greater profits. It pays to invest in your employees!

 

Client Retention as part of the Collections Process

 Departmental collaboration is greatly important in the Collections/Billing department. Customer_LoyaltyThis team must have access to project /product status, project/product delivery and results; this will allow the Lead person handling the over-due account to develop an understanding of the situation, survey the client to ensure requirements were met and if they were not met deliver this information to the production team. In other words, the Collections Team can be an extension to the sales, marketing, production teams by acquiring additional Voice of the Customer data.

For example, it may be that the Project Manager is not effectively translation the client’s requirements into product/service specifications. This will prompt the need to test and implement process controls that ensure product/service specifications meet client requirements.

By utilizing payment plans, longer payment terms (Net 30-90), broader payment options (checks, credit cards, debit cards, PayPal, et cetera), engaging in daily communication and understanding of the client’s needs and situation can ensure an enduring relationship and stronger cash flow.

 

M&A: The Process, Software and Tool Abyss

M&A: The Process, Software and Tool Abyss

Big-fish-eating-fish1   Here comes a merge! Essentially with a merge comes the dilemma of choosing the most effective process, software and tools used for daily business departmental functions. For example, it may be that the two companies use different accounting software, in turn, an assessment now has to be made whether to use one or the other or acquire another software that can handle the current business requirements. To streamline this process a team has to be assembled consisting of atleast 4 per department from each company (that is well versed in the processes and controls of the department). They can then create process maps (visual representations of a process that help identify non-value added activities) and share them with the merging team. With a merge follows new operational and strategic goals, therefore, by collaborating and sharing departmental process information decisions about which process, software or tool becomes much easier.

How to Create a Benefits Strategy to optimize talent management

3D Successful business group

 

Employees don’t want to be handed books of paper about the benefits available to them through your company. They need guidance on which medical, dental, and retirement plan to choose. Therefore, to increase overall employee satisfaction and improve your benefits administration process I suggest the following:

1. Utilize the Voice of Your Employee by conducting surveys, such as, how often they want benefits related information to be provided to them, what communication channels do they prefer to receive the information (videos, PPT, mobile, intranet, email, et cetera).

2. Create personalized material to fit critical variables based on survey data and employee goals.

3. When you identify how often employees are willing to see benefits information make sure to create a calendar of when this information will be distributed and actively survey employees on what topics they want to learn more about (make sure the content is not too long, gets to the point, and is easy to understand but also fun too)

4. Utilize or create a single platform that offers all benefits information because this reduces the need for multiple passwords/websites.

5. Set time every quarter to discuss benefits and explain to employees why premiums increase every year. Also have your broker be part of the meeting so they can offer advice to employees on which plan is best for them or answer any questions they may have.

6. Comparison shop every year to see if you are able to find a more cost-effective plan by using the total-cost method (e.g taking into consideration the overall cost of the plan includes broker fees/commission, admin fees, et cetera) See this entrepreneur article for more information.

7. Continue to survey employees every Quarter because many things can change in their lives in just 3 months. You have to stay abreast to those changes so that relative guidance, content and information can be readily available to them so they can make smart decisions.