Discover Engagement

HEADNOTE

WHAT IS ENGAGEMENT, AND WHY IS IT ONE OF THE MOST POWERFUL EMERGING BUSINESS CONCEPTS OF THE 21ST CENTURY?

For many years, companies have been focused on building customer satisfaction, trust and loyalty While important to the organization, satisfaction

is fluid, meaning a customer can be satisfied today, but as a result of one bad experience, be dissatisfied with the company tomorrow. Developing deeper levels of trust and loyalty among employees and customers remains an elusive and perplexing process. That is because firms frequently neglect the most important ingredient, the "heart" or "emotional bond" of an organization's most important assets; its employees and customers. This bond is called Engagement.

For those businesses that value and manage engagement and loyalty, it is proven that they enjoy (1) higher levels of employee and customer loyalty, (2) positive word of mouth, (3) reduced turnover and training costs, (4) receive higher price premiums for their services and products, and (5) greater share of wallet and cross selling, all of which leads to higher company profits and faster growth than those that don't. That is why engagement is one of the most powerful, emerging business concepts of the 21st century.

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AUTHOR_AFFILIATION

BY DR. GARY RHOADS & DR. DAVID WHITLARK

LOYALTY & ENGAGEMENT EXPERTS