Behavioral Economics that Drive Growth and Profitability

This emerging management discipline, based on principles of behavioral economics, can help business leaders and executives make sense of the economic behavior of real people and serve as a platform for effective management solutions.

Employee engagement does have a direct and measurable relationship to, and impact on, customer engagement. But the ways in which employee and customer engagement interact to enhance an organization’s financial vigor are more complex than a simple linear chain of factors. This is because the combined impact of engaging an organization’s employees and customers simultaneously is substantially greater than the effects of engaging employees or customers separately. Employee engagement and customer engagement interact to drive even higher levels of financial performance.

In fact, “optimized” teams within an organization, those that are in the top 50% of teams on both employee and customer engagement, generate a 240% boost in financial performance compared with teams that fail to engage their employees and their customers.

Contrary to popular wisdom, our emotional traits are in fact quite predictable, and it is this long-ignored aspect of employee-customer relations that holds the key to superior performance and long-term growth.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s