As the phase of budget cuts and ‘having to do more with less’ continues for UK
businesses, companies need to find new, low cost and low risk methods of
maintaining and optimising profitability. More often than not, the means of
achieving this objective already exists within the business itself, and an
objective, pragmatic review of the operation or the company’s
service profit chain
serves to unlock opportunities to enhance performance in key areas so as to
increase profitability.
i360Experience's Service Profit Chain Review
i360Experience’s service profit chain review examines your entire operation
from your strategy and objectives, and internal processes, through to your
employee engagement and productivity, and your customer value, satisfaction and
retention. We identify areas of strength and limitation, we determine the
relationship and impact of key business variables, and we theoretically break
down departmental barriers to establish relationships between core business
functions and processes so as to provide you with a cohesive view of your
operation.
As part of the review, one of our consultants will meet with you to gain an
insight into your operation, and get to grips with your goals and objectives,
your company culture, your employee experience, your competitive landscape, your
customer value and retention, and your primary business challenges and
obstacles. As part of this assessment we may also explore any existing
operational data such as customer and/or employee satisfaction results, external
accreditation assessments, process maps, benchmarking and financial performance
data etc.
Following this meeting, which will last between one to two hours, our consultant
will prepare a custom Service Profit Chain Review report that will include
the findings from your company’s assessment together with a host of best
practice recommendations designed specifically to help you improve performance
in those areas identified as being problematic and deliver benefits throughout
the entire service profit chain so as to increase your profitability.
What is the service profit chain?
A company’s ‘service profit chain’ is essentially what links profitability to
customer loyalty, employee engagement, and productivity. Think of it as a set of
interdependent but related variables, when one variable is underperforming it
has the power to impact the other variables. For example: if employees are
dissatisfied with an element of their working environment, they can become
despondent, disengaged even; their attitude towards their work can change,
leading to a loss in productivity and/or the delivery of poor customer
experiences; poor customer experience can result in customer defection and lost
revenue opportunity.
When a company’s service profit chain is performing optimally, employees are
engaged and productive, which in turn drives customer value and loyalty, and
that customer loyalty and advocacy is the key determinant of sustainable
competitive advantage and profitability for the company.
