Retention and Customer Satisfaction

Abstract

Unifi Network, a subsidiary of Pricewaterhouse- Coopers, conducted a recent study that examines the impact of employee turnover on customer satisfaction within six different industries: banking, investment management, personal computing, property and casualty insurance, retail sales and telecommunications. Research results show a strong link between employee retention and quality of service as rated by the customer. Therefore, today’s employer need not only please his consumer but also the employees who provide the product or service. Research points to six critical employee needs that, when understood by employers, can be used to combat recruiting and retention challenges faced by many of today’s service organizations. Employers need to align the requirements of their business strategy with that of the more individually focused needs of their employees to sustain retention and increase customer satisfaction.