Recognition Solutions - Recognition Gifts and Incentives for Customer and Employee Loyalty

Why Awards?

Over the next decade, thousands of businesses will come to realize that their most important assets are their human assets - customers, employees, and investors. Building winning strategies will require that businesses find ways to attract and develop the right human assets and gain their loyalty. Here are some statistics you should know about:

Most U.S. Companies lose half their customers in 5 years.
Most U.S. Companies lose half their employees in 4 years.
New customers cost 5 times more to obtain than servicing existing customers.
Replacing Employees can cost you 150% of the current salary & benefits.
Higher Customer Retention & Loyalty = Higher Profits & Faster Growth

Consistently high retention can create tremendous competitive advantage, boost employee morale, produce unexpected bonuses in productivity and growth, even reduce the cost of capital. It is impossible to maintain a loyal customer base without loyal employees. The best employees prefer to work for companies that deliver the kind of superior value that builds customer loyalty.

Customers are defecting from today's companies at the rate of 10 to 30% per year, and employee turnover is between 15 and 25%. Business is conducted among strangers. Trust is low and energy dissipates rapidly. Raising customer retention rates by five percentage points could increase customer value by 25% or more.

"If you can't please your current customers, you don't deserve any new ones."

Peter Drucker says: All organizations now say routinely, "People are our greatest asset." Yet few practice what they preach, let alone truly believe it. Most still believe, though perhaps not consciously, what nineteenth-century employers believed: People need us more than we need them. But, in fact, organizations have to market membership as much as they market products and services - perhaps more. They have to attract people, hold people, recognize and reward people, motivate people, and serve and satisfy people.

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