Sharing Financials Helps Employees Make Smarter Decisions December 31, 2014Posted by TelUS Consulting Services in Social Media.
Frontline employees are responsible for keeping customers happy. But when people focus on delivering great customer service, they can forget that the business has to make money too.
Should I schedule yet another service visit? Should I forgive this bounced-check fee? Should I honor that expired warranty?
If you’re going to ask frontline workers to make these difficult decisions, teach them about key financial indicators so they’ll know the costs. Think about creating a daily or weekly dashboard showing relevant customer-feedback scores and comments, along with key financial numbers – variance to budget, cost per customer, etc. Employees will learn to track the short-term tradeoffs and will naturally try to keep costs under control. This can also help in the long term. If they schedule extra service visits, for example, or regularly honor those expired warrantees, the costs of service may rise. But there will be a payoff in greater customer loyalty.