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Customer Service and Turnover

Assume:

  • A company has 100 employees.
  • Turnover is only 20% per year.
  • Cost of turnover is 3 months wages (very conservative).
  • Average wage is $8.00/hr. plus 20% benefits.

Existing yearly turnover cost = 100 employees X 20% turnover X $4,992 (three months wages including benefits) = $99,840 per year.

The Customer Service Perspective, very conservatively, can typically reduce turnover by 25%. The yearly savings is = $24,960.

The yearly investment of using the Customer Service Perspective (after the initial study) = $3,300 (assuming 3 assessments per hire and $55.00 per assessment).
Return On Investment (ROI) = $24,960 / $3,300 = 756% !!!

This analysis doesn’t even include the increase in productivity and reduction in training costs.

Furthermore, the benefit of satisfied customers is almost immeasurable!

This is why so many organizations are using The Customer Service Perspective!

 

 

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