Advisor: Doron York
The Engagement: Senior Executive Team Coaching
THE CHALLENGE
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The company have above industry average high turnover of high talent employees (36% in two years)
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Experience difficulties keeping consistent dedicated staff on client projects
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Client rating dropped by 3.6 points to low of 5.2 within the last 18 month
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Client retention decreased by 18% to 67%
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Customer service cost jumped by 29.6% in the last year
THE BREAKTHROUGH TARGET
The objective of the coaching was to cause a breakthrough in the following:
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Reduce the employee’s turnover by half to at least 18% of less.
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Increase customer rating above 8.0 on the scale of 10
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To increase client retention by 10%
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To reduce customer service cost to 18% or less
WHAT MADE THE DIFFERENCE?
In the course of the engagement the company’s management team was coached to make the following changes and improvements:
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Move their office to a new larger, updated and much-accommodating facility with lower cost
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Work with the three partners and other senior managers to move from “Hands off” to more “Hands-On” management style.
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Create a new compensation and profit-sharing plan that is above industry standard
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Establish a customer feedback loop as part of the client engagement process
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Have the senior management team take accountability for customer relationship management with a clear define process
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Create a state of the art 24×7 help desk with quality talent
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Establish a real-time management “Dashboard”
THE RESULTS
After eight months of coaching we produced some remarkable breakthroughs towards the company’s future:
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Employees turnover drooped an all-time low of 5%
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Client rating 6 months into the engagement was at 7.9
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Client renewals were at 89% within 6-month
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One client increases the contact size by 50%
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The customer service cost was down by 9%
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Company revenue was up by 27.6% – Completely unexpected!
WHAT THE CLIENT SAY?
“I can’t say that the process was easy or enjoyable at times, yet it was necessary. Doron York’s coaching approach was spot on. His straight forward no-nonsense style had us looking at the mirror and sees the harsh truth about our operation. It was confronting, discomforting and challenging, yet it was the best investment we have made in our company, it is money well sped, to say the least.” – Company’s Founder & CEO
After 12 months into the engagement, the company merged with a complementary development firm increasing the overall company market value in excess of 240%. The personal equity of each partner increased over their initial investment in excess of 800%.
According to the management team, the coaching generated
8 times R.O.I.