Increasing customer profitability can be tricky. Many companies offer customers discounts or free services to win or retain business. But if they find that the cost of providing those services or discounts exceeds customer profitability, the company has to make a difficult decision between cutting costs or losing customers. Using...
The primary objectives of the study presented in this paper were to explore the reasons behind hourly employee turnover and to explore variables that would assist in predicting employee retention in the lodging industry. Data was collected from 230 hourly employees in 10 small and medium-size hotels located in the...
Retention is definitely the "Buzz" word for businesses today. Customer retention has business leader's attention and leaving most wondering how other businesses are approaching this seemingly complex business function. A web search of "customer retention" results in thousands of available web sites all with the real solutions for customer retention....
In this economy, people are forced to accept jobs that are not the best fit for them. Once the economy turns around, these people may quit and go elsewhere. What can companies do to keep good employees? Retention begins on the first day on the job. The key is to...
From the executive summary: ‘Employee retention begins with hiring right, and hiring right starts with the decision-making process. Most companies try to fix their turnover rate problem by pushing recruiters to come up with new methods of finding candidates in lieu of looking more closely at their decision-making process. However,...
From the executive summary: ‘Customer retention has gained popularity during the last few years. The concept’s simplicity, coupled with the promise of high financial returns, has made retention a high priority at many corporations. While marketers can positively affect customer retention in a number of different ways, improving retention is...
Recruitment is the initial identification of suitable candidates for a specific job vacancy. Retention is the process of creating and cultivating suitable conditions to ensure that the employees stay with the organization for a reasonable amount of time. An effective retention framework leads to low HR turnover. This facilitates the...
While customer retention and its goals haven't changed, the entire customer retention business is busy reinventing itself from what it was just a few short years ago. Whether new technologies drove new thinking or vice versa, it's hard to say. But one thing is for sure, what retention is –is...
Customer loyalty and retention is the key to survive in a dynamic and competitive world where the flow of information is just a click away. The key to achieve this goal is to satisfy customers need in most effective manner and to go further by providing h
Most companies in the corporate sector often worry about retention. Experts suggest that it is quite easy to recruit people, but it is much more difficult to retain them. Retention involves three basic elements viz. economics which includes the cost of retaining employees, supply chain, and finally, the workforce. Companies...
The concepts described in this study are applicable to every class of insurance and are not limited, for instance, to the casualty or property damage classes. The publication is based on Bruno de Finetti's work on the establishment of optimal proportional retentions which was published in a 1940 article entitled...
Today, companies are using high-tech analysis tools to reevaluate risk retention, wiping liabilities off their balance sheets by selling claims to underwriters or increasing risk retention and paying lower premiums. Risk management is graduating from the tactical to the strategic, from the craft of shrewd shopping for insurance coverage to...
"Selecting the ""right"" employees is becoming more challenging every day. What's an employer to do? The article discusses that it’s not only about hiring. Retention is what's critical. Today you have to build a culture within the organization, a culture of respect and fun, so you don't lose...
The new age economy, with its attendant paradigm shifts in relation to the human capital, in terms of its acquisition, utilization, development and retention, has placed a heavy demand on today's HR professional. Today HR is expected to comprehend, conceptualize, innovate, implement and sustain relevant strategies and contribute effectively towards...
Employee retention is one of the biggest challenges of managers today. Learn three techniques to help you retain your most valuable staff. If you have questions or suggestions for future video topics, Leila wants to hear from you.
Question-and-Answer Session Operator Operator instructions Your first question comes from the line of David Lewis with Raymond James. Please proceed, sir. David Lewis – Raymond James Thank you and good morning. Congratulations on a solid quarter. Couple of questions, first, Heritage appeared to have a very strong...
Question-and-Answer Session Operator Operator Instructions Our first question comes from Susan Spivak - Wachovia. Susan Spivak I just wanted to follow up on the trend of the increasing retentions. I kind of look at it as a good news-bad news scenario because it puts you further away...
(11min 59) Click on "Play" to hear the podcast or click "Get It" to download. How much resource you put behind training can have a significant impact on your staff turnover. This is particularly the case with IT, a sector where close to full employment makes staff...
[ILLUSTRATION OMITTED] THE BEST approach for corporations supporting executives on global assignments of all types is to address both the shift from one culture to another on long-term assignments and train everyone at a managerial level in an open-minded, culturally respectful mindset that values diversity. Executives...
