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NPS-focused companies are more value-driven

At the end of May, the third generation of the Manifesto report, which deals with culture and values, will be released. Behind the study is the attitude and values agency Wildfire.

The study has been conducted on 600 companies globally and provides interesting answers about how different organizations in different regions prioritize and work with culture and values to attract both talent and customers and perform as an organization. The main focus of the study is the Nordic countries, Great Britain and the USA, but at the same time it responds to an overall plan of how values are prioritized as a steering instrument in other regions and countries.

Our former colleague, Sebastian Wettermark, now CEO of Wildfire, presented the report at the Saga cinema in Stockholm on May 18.

The study shows that we in the Nordic countries are the ones in the world who are most fond of values and it is definitely a high-priority issue in Sweden. Could it be that value words are more important to employees who are more self-determined? The Nordics are also the best in the world at recruiting based on attitude. Nevertheless, there are still few companies that succeed in making the values permeate the entire organization, from top management to the employees on the floor.

The study points out that value-driven companies are more profitable than others.

In Wildfire's study, they looked at, among other things Net Promoter Score®, NPS® which is an ever-growing concept that more and more organizations are beginning to see as a key figure to measure as naturally as other financial figures. The study shows that culture-driven companies that measure NPS® to a greater extent make the culture permeate the business.

With NPS, you measure the recommendation willingness of customers and employees by asking the question "How likely is it that you would recommend company x to a friend or colleague?" using a 10-point scale. Those who answer 9-10 are ambassadors and account for the highest turnover, those who answer 1-6 are called critics and through word of mouth can get others to opt out of you, which can be very costly. Those who answer 7-8 are passive and may not be dissatisfied but might as well go to the competitor. With NPS, you can compare yourself to others and be given the opportunity to act on feedback to save relationships. It's not just about having as few unhappy customers as possible - it's also about wowing the ambassadors and turning them into your best marketers and salespeople.

Invited guests on the panel were Sanna Westerberg from the consulting company Whyes Development, Fredrik Ahlengärd from OKQ8 and Kristina Andreasson who is the communications manager at Veidekke. Together, they had to answer questions about company cultures and values. There were also interesting discussions about the companies' "Why", i.e. higher purpose. For example, what is the higher purpose of a sawmill? And how do you get it into every employee's everyday life?

A strong customer focus goes hand in hand with culture and attracts talent. Do you want to know more about how you can start working customer-focused with NPS or create employee engagement? Contact Us then we book a meeting!

 

Want to read the full report? Download it HERE

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