How to Estimate the Qualitative Loss From Staff Turnover

 

What is an employee worth to you?

Not just their ability to generate sales or produce a measurable outcome, but also in terms of the experience they provide, and the emotional impact they make?

How can we calculate the degree of value an employee brings to a company, and what we lose when they quit?

Previously, I discussed ways to increase Risk Intelligence after staff turnover, and how to calculate the financial impact.

In this third segment, I explain hidden values employees provide, the 9 things we lose when an employee leaves, and simple ways to calculate the cost of quality.

Continue reading “How to Estimate the Qualitative Loss From Staff Turnover”

What is Transaction Avoidance Syndrome? Part 1 of 3

Part 1 | Part 2 | Part 3

Profitability is a huge problem that keeps many small businesses from growing. In an ideal sales process, here’s what happens:

  1. The customer becomes aware of a need.
  2. The customer determines what options exist by asking around, doing online searches, or walking into a store.
  3. The customer decides (perhaps with the help of a friendly sales rep) to invest in a particular service.
  4. The seller explains the investment that is needed for the service.
  5. The customer provides payment.
  6. The seller completes the service and makes sure the customer is satisfied.

Some companies wait until after the service is completed before they request payment.

Either way, a good transaction is based on trust: a strong belief that your initial problem will be fixed, and that the value you receive will exceed the cost you’re paying.

But sometimes, this process doesn’t go the way it should.

Continue reading “What is Transaction Avoidance Syndrome? Part 1 of 3”