Revenue, profit, turnover, market share, percentage growth, all numbers, amounts, and figures that are used to assess how well a business is performing. While these are obviously important, for us there is another key number that we avidly track and monitor. One that is included in all our company updates to staff and added to new business proposals and sales materials. NPS – which for those of you that do not know, stands for Net Promoter Score.
To put it simply, it is a score ranging from -100 to 100 that measures the willingness of customers to recommend a company’s products or services to others. So why do we hold this figure in such high esteem? For us, it is how we measure the quality of our outplacement services. If we aren’t offering a service that meets or exceeds people’s expectations, then that is a problem. That would ultimately have an impact on the future of our business.
Neilsen research found that 92% of people trust recommendations from friends and family over any other type of advertising. For us, happy and satisfied delegates equals happy and satisfied clients. We regularly receive new business enquires from people who have called us following a recommendation, we also have many past outplacement delegates that have gone on to become current clients. It is actions such as this that make customer satisfaction such an important part of our business.
So the big question I can hear you asking is, what is our NPS? Here at Chiumento, we were all very delighted to find out this week that our latest Net Promoter Score is +56. With, according to research from Bain and Company, the UK average being around +10 and only around 10% of organisations scoring more than +40, it is a score we are very proud of.
What makes our latest score more remarkable is that it is based on data gathered while we’ve been delivering all our services remotely due to Covid-19. If definitive evidence was needed that quality outplacement solutions can be delivered without offices or face-to-face meetings, then this is it. Over half of respondents giving us the maximum 10 out of 10 score.
This is a great achievement for our Head of Operations, Frances Foster, who has been driving the development of our customer journey. Congratulations to her and her team. However, continuous improvement is in our DNA, so while it is a fantastic score, we are not resting on our laurels. The aim for 2021 is to move closer to the scores of +70 achieved by some of the top UK brands.