The importance of NPS for the staffing industryBy Lisa Groot on 01 Jun 2018
Candidate and client experience is of great importance in the staffing industry. Satisfied customers and clients are key to expanding business and maintaining relationships, which is necessary for your sales processes. Without sales, no business. The Net Promoter Score (NPS) helps getting insight in these relationships.
What is NPS?
NPS means Net Promoter Score. This score measures candidate, client, employee and/or supplier experience and predicts your business growth. Read more about NPS in this article.
Improve your service
Knowing if the people or companies you work with are satisfied and will work with you again is very valuable, because it shows whether you are on the right path or not. The higher your NPS, the more satisfied your customers, the bigger the chance they will work with you again.
You have to act to the data you receive. If your NPS is low, you know it's necessary to improve your service in order to make sure your clients and candidates keep using your services.
NPS as an indicator for growth
According to research of Bain & Company, Net Promoter Scores explained on average 20% to 60% of the variation in organic growth rates among competitors in most industries. If a customer is loyal to your organization, it does not only mean that they will keep using your services, it also means that they will recommend your services to others. That means expansion!
The higher your NPS, the bigger the chance that your business will expand.
The Compound Annual Growth Rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer than one year. The image shows the growth of a company with a high NPS, which is two times stronger than a company with an average NPS.
NPS in Ratecard
Ratecard offers the opportunity to calculate your NPS. Read here how you can question it correctly in a form.