 | ||
Spend Time Keeping Your Greatest Asset,Not Replacing Them |
 |
|
ROI CASE STUDY #4 - EMPLOYEE RETENTIONA premier brokerage firm's goal is to maintain 5,000 brokers across the country. Over the past five years, the firm saw 800 brokers per year leave. In order to keep the total number of broker's at 5,000, they were spending $4 million per year ($5,000 per broker) training new brokers to replace those who had left. The firm implemented a travel incentive program in an effort to increase broker retention. If brokers reached certain levels of sales, they were awarded a trip. The firm's tracking showed that brokers qualifying for trips were 84% more likely to remain with the firm than those who did not. The return on investment in this case was driven from the cost to train new brokers. The promotional products distributor uncovered an awareness issue as it related to the incentive program. New brokers were not well trained on how to qualify and many brokers never understood basic components for the program, so were not motivated to participate. Brokers spend much of their day at a desk. The focus, then, was to build awareness at this touch point. A coffee tumbler was sent to every broker to kick off the annual incentive program. Information on the tumbler included thresholds for various trips and destinations. The tumbler even had a tip card inserted which covered all other FAQs. Results – following the promotion, turnover rate dropped from 800 to 700 in the first year. ROI - $450,000 |
||
SJM Promotional Marketing Agency |
||
| ©2006 SJM PROMOTIONAL AGENCY. All rights reserved. Website design and logo design by Logoworks |
||