Is recruiting and retaining quality student employees important to your business?
How big of an impact would be made on your operations if you
consistently retained part time employees for 5 to 7 years?
Through the College Bound Program, we’ll help you to leverage the
power of Loyalty Economics to have a dramatic and lasting impact
on your employee base and business operations.
Stop wasting money on turnover and start building loyalty!
Take a look at the 20 year retention study from the Department of Labor's
Bureau of Labor Statistics and see just how long the average 16 to 24
year old employee stays with your company on average.
Click the link below:
DOL Study - Full Report
The incredible performance record of Chick-fil-A
Take a look at this chart from the QSR Magazine’s top 50 Fast Food Restaurant brands. The first chart is sorted by average sales per unit, the second by total sales and the third by total number of US locations. What’s wrong with this picture??
The thing that is wrong with this picture is that you may not be asking yourself that question. How does a brand like Chick-fil-A outsell everybody else in the industry by a country mile when they are closed on one of the busier days of the week in the QSR industry?
How is it that a single brand can outsell its closest competitor on a per location basis by 49%? How can a chain that is closed on Sundays, not just last Sunday or next Sunday but every Sunday, outsell the balance of the Top 10 brands by an average of 75% and yet have 14% less floor time each week to do it? How is it that they can outsell their direct competitors - Bojangles’ – Popeyes - KFC – Church’s Chicken – by an average of 258%?
One of the main reasons is so simple that you will likely shrug it off. Chick-fil-A discovered long ago the value of what we call Loyalty Economics. Or, if you prefer, what the Harvard Business School calls The Service/Profit Chain. When you hire and keep only the best people longer than your competitors, you develop a distinct and profitable competitive advantage. Do the research; Chick-fil-A is an employee centric company with programs and benefits that most QSR’s would never consider. The value they place on employee loyalty leads to tighter operations, better customer service, cleaner stores, transaction accuracy, transaction efficiency, bigger smiles and repeat customers which leads to ever increasing sales and profits; The Service/Profit Chain.
We have the perfect example of this right here in Minnesota. Why is it that, year after year, for over a decade, the Woodbury Dairy Queen and the Apple Valley Dairy Queen have outsold every other Dairy Queen in the state? (In many cases, by a country mile!) Could it be that, because their average employee stays 230% longer than the industry average that they have gained a competitive sales advantage?
We can help you gain that competitive advantage by driving employee loyalty through The College Bound Program. Or, you can continue to do the same thing over and over and expect different results.