Company leaders focus on the strength of internal and external relationship-building
LOS ANGELES, March 17, 2008 — While CEOs ante up to the challenges of today's competitive pressures and the current economic conditions, they're recognizing the power of people. Whether better managing their company's clients, employees or both, today's CEOs are strengthening business by building stronger relationships with these individuals, according to the 2009 Management Action Programs Inc. (MAP) Quarterly CEO Survey conducted by Vantage Research. Surprisingly, these CEOs aren't as concerned with lowering product prices to steer their companies through the recession right now. Instead, over 50 percent are now turning their attention to stabilizing or growing revenues through customer/client retention, using softer tactics, like beefing up services, interactions and communications, the survey indicates. As well, nearly 70 percent of these company leaders are motivating staff with simple yet effective non-financial rewards, such as verbal and written recognition.
"The results from MAP's latest survey demonstrate that in the face of today's economic crisis, CEOs are going back to basics," says Lee Froschheiser, president/CEO of MAP (http://www.mapconsulting.com), a veteran business-consulting firm that has accelerated sustained growth for over 13,000 companies and 160,000 executives since 1960. "There is renewed focus on treating both employees and customers right, which is a key driver in maintaining a sustainable business. If CEOs can rise to the challenge, they create a win-win situation: They retain their best employees and their best customers."
CEOs are also implementing other non-financial methods to acknowledge top performers and inspire workers, according to the survey. Organization leaders are using employee awards and recognition events to bolster company loyalty and boost company morale.
When it comes to customer relationships, the survey also reveals a growing effort to improve client and customer relations. This compares favorably with anecdotal evidence suggesting that more and more companies are sharpening service efforts to compete.
"It comes as no surprise that there has been a noticeable increase in the friendliness and proactive service by some stores' personnel – smart businesses are focusing on service," says Allan Hauptfeld, principal of Vantage Research & Consulting (http://www.vantage-research.com) of Valencia, Calif. "The survey findings mirror that behavior, which is indicative of a culture that cares about people, as in the company's clients and customers."
In addition, the survey uncovered other newsworthy topics, including:
- CEOs are cutting internal waste, improving internal processes and developing new revenue streams to address the economic downturn.
- CEOs predict an economic recovery in the second half of 2010, a later date than previously forecast.
- Employee headcounts won't change much, and CEOs don't have onboarding plans, suggesting a lingering hiring freeze.
For more information, visit http://www.mapconsulting.com/.
About MAP
Management Action Programs Inc. (MAP) offers business leadership training and consulting services to organizations nationwide through its Western U.S. offices. MAP has an active alumni network, providing its supporters online seminars and value-added communications.
Email, 888-834-3040; http://www.mapconsulting.com
Contact:
John Manning
Phone: 949.608.0339
Email
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