Innovative Ideas to Move Your Staffing Business Forward, Part 4
This is the last segment in our four-part innovative-ideas series. If you missed our earlier posts and are looking for more inventive ways to move your staffing business forward, check them out here: Part 1, Part 2, and Part 3!
Idea #12 – Reach out to Net Promoter Score survey respondents.
The Net Promotor Score (NPS) is an index that measures the willingness of customers to recommend an organization’s products or services to others. Therefore, when clients and candidates take the time to provide you with invaluable feedback about your business, it’s important to take the time to promptly respond.
Regardless of how positive or negative the feedback you received is, there’s something that can be learned from every scenario. Here are a few different ways to navigate feedback from your detractors, passives, and promoters:
- Detractors: any client or candidate that ranks you as a 6 or lower can be considered a “detractor,” meaning they are likely vocally negative about you. Reach out to thank them for their feedback and ask them how you can improve. It’s important to respond with appreciation, not defensiveness, by simply thanking them for taking the time to invest in you and making your company better.
- Passives: any client or candidate that rates you as a 7 or 8 can be considered a “passive,” or those mostly satisfied, but vulnerable to competitive threats. Approach them with a similar process and dialogue that you used for detractors—reach out, thank them for their time and feedback, and ask what it would take to be a 9 or 10 in their opinion. Any feedback they give can provide you with the opportunity to make adjustments and reach customer excellence.
- Promotors: any client or candidate that rates you a 9 or 10 is considered a “promoter,” and will speak favorably of you to others. When reaching out, thank them for their loyalty, time, and business, and ask if they can name a friend or colleague who could use your services. Given 84% of deals today start with referrals, seeking out your loyal customers and asking for referrals is a solid starting point.
Idea #13 – Make cross-selling of additional service lines a top priority.
Did you know it’s six-to-seven-times more expensive to acquire a new customer than it is to cross-sell to an existing one? Quarterly business reviews (QBRs), which serve to demonstrate the current value you bring to your clients, can also help you identify your best cross-selling opportunities!
Within QBRs, highlight any products or services customers are buying from others that your organization could provide them with instead. By proposing areas they can consolidate resources to work more cost effectively, and identifying how those shifts would benefit their business, you ultimately add more value to your relationship and serve as a strategic partner. Try putting together a worksheet similar to this:
Idea #14 – Consistently train internal staff across your organization.
Training is a fundamental element of the new-hire process. Whether it be a one-day, one-week, or 13-week onboarding program, your training methodology establishes the standards all of your employees will experience when joining your organization. However, the challenge most companies face comes from developing ongoing training—determining what happens when the first phase of training is complete and what mid-level training can be offered.
To ensure your staff is trained in a consistent manner than promotes growth to individuals and your company, examine your processes and training surrounding development. For example—given the staffing industry’s struggle to get a mid-level manager to progress to the executive level, does your organization’s training provide ways to develop these managers to get them to the next stage (e.g. mentor programs, reverse mentor programs, etc.)? Ultimately, creating a culture that fosters the exchange of ideas and shared knowledge will serve to strengthen your employees’ confidence and abilities, and reflexively, your business.
Regardless of industry, the importance of innovation in business cannot be understated. Whether you already utilize some of these innovative practices or plan to now implement a few, we hope you’ve found this series informative and encourage you to continue to find other ways to seek feedback and deliver more value across your organization!
Source: “28 Rapid-Fire Ideas to Rock Your Staffing Business,” 2018 SIA Executive Forum North America. Ideas presented by panelists: Mike Jacoutot, Founder & Managing Partner, Butler Street; Eric Jaquith, Director of Talent Acquisition, CDI Corp.; Chris Martin, SVP, Randstad Technologies.