A significant advantage
Renato Mota, an executive at IOOF, spoke at our recent event about how IOOF have gone beyond NPS, eNPS, and the normal transformation approaches that fail – and how in doing so they have achieved results beyond anything that conventionally might have been thought achievable in any usual plan. He calls the process completely transformational, both personally for individuals and for the organisation.
Beyond NPS
We’ve been able to simplify how we think about our business, and we have greater confidence that it aligns to our customers, and we can measure that in a far more meaningful way. These are the things that now manage our business. We now get a very rich picture of what matters to a customer – what matters isn’t an account balance – it’s their life, family, their goals – that’s what matters.
Beyond eNPS
This has done more for staff satisfaction than anything else we have done in our organisation. Giving people a sense of purpose and giving them an ability to deliver value will do more for your people than anything else you will do. We’ve got better customer satisfaction, and more empowered and knowledgeable frontline staff, who are making quicker decisions and are delivering value more quickly.
Beyond what we thought possible
We’ve transformed our entire organisational strategy. Our strategy is linked to our purpose; our purpose has come through the demands from our customers, which has come through this whole process. This engagement with Vanguard, and the learning and rethinking experience has led to a transformation in our strategy. The redesign of our system is giving us a significant advantage in our ability to deliver value.