July
2004
Wachovia is doing great things for customers and shareholders, but this wasn't always the case. Just a few years ago, service hit a low point, and the company struggled to keep its customers. A crucial factor in Wachovia's turnaround, says CFO Bob Kelly, is "the bank's tremendous success in increasing the quality of service we provide our customers."
Many companies that use a balanced scorecard approach to managing performance aren't seeing the expected returns -- or worse, their organizations have become more bureaucratic. Gallup's research has found that four key elements are required to make the balanced scorecard work. This article, the first in a two-part series, highlights two of those elements.
For several years, respected industry leaders have been assailing both advertisers and their agencies for lack of performance. It's time for marketers to rethink not just what they're spending, but what they're focusing on and how they're monitoring their progress.
Research shows they are critical to increasing employee productivity and engagement, according to the authors of How Full Is Your Bucket? Positive Strategies for Work and Life. What's more, people who receive regular recognition and praise are more likely to stay with their organization, receive higher loyalty and satisfaction scores from customers, and have fewer accidents on the job.
The presidential campaigns are devoting much attention to hotly contested states, trying to discern voter attitudes, particularly toward the economy. President Bush and Senator John Kerry might want to note the mood of workers in one key battleground state, Ohio, where Gallup recently conducted an employee engagement survey.