What Really Drives Client Relationships?
We’ve seen the power of quality and client relationships. In chapter 5, we asked, “But what drives quality and client relationships?” We now have some answers. Two factors have a direct causal effect on quality and client relationships. These are high standards and employee satisfaction. For the record, here are the component questions of the employee satisfaction factor. — I am highly satisfied with my job. — I get a great sense of accomplishment from my work. — The overwhelming majority of the work I’m given is challenging rather than repetitive. — I am committed to this firm as a career opportunity. Raising employee satisfaction (i.e., these four questions) by 1 point on our 6-point scale (again we’ll use the example of from “somewhat agree” to “agree”) would improve the score on quality and client relationships by 0.4 (which is about a 10% to 15% improvement in most cases). This, in turn, would raise the financial performance index by (0.404 times 104.12) or 42.06. Let’s say th
