Nesco Resource Just Won Best of Staffing for Five Years in a Row.
But Why Is That Really Important?
Every industry has its awards and accolades. We use ratings and rankings to buy cars, pick schools, and even pick doctors. But an award only means something if its criteria mean something. In other words, if an award is just a pretty symbol based on some vague industry standards, it is nothing more than eye candy.
Nesco Resource has always been proud of it Best of Staffing award in both Client and Talent categories presented by Inavero. This year, we are especially proud because we have earned a Diamond award for winning both categories five years in a row.
But we are proud of this award because we know the criteria that go into say something truly valuable about the service we provide to our clients and the talented people we place in jobs. The Inavero Best of Staffing award is based on a specific set of standards reflect what is important and valued in our industry.
Net Promoter Score
Net Promoter Score (NPS) is really based on a single question: How likely is it that you would recommend our company/service to a friend or colleague? Scoring for the answer is typically based on a scale of 0 to 10. The tool was introduced widely in 2003 in a Harvard Business Review article titled The One Number You Need to Grow. People who give a score of a 9 or 10 are considered Promoters. 7 or 8 scores are considered passives and anything of 6 or less is considered a detractor. Detractors are subtracted from Promoters and that number is divided by the total number of surveys. The end of that division gives you an NPS score. A score of 50 or higher is considered excellent.
By substituting a single question for the complex black box of the typical customer satisfaction survey, companies can actually put consumer survey results to use and focus employees on the task of stimulating growth.Frederick F. Reichheld
This is a very simple, but telling scoring system. Asking a customer “Are You Satisfied?” is entirely different than “Would You Recommend Us to a Friend or Colleague?” The threshold for a positive response is much higher. The first question indicates that a very high score would still only reflect the bare minimum of service. Being satisfied with service is much different than a recommendation to a colleague or a friend.
So while NPS might seem deceptively simply, it is a number that tells us volumes in terms of what is driving customer loyalty, and where the true growth opportunity lies. The fact that Inavero basis its award on NPS is a simple, revealing, and useful measure for how well a Staffing agency is performing. And its third-party surveys leave little room to question validity. Client and Talent are impartially surveyed and the scores stand where they stand.
NPS and Staffing
Another part of the reason why NPS is so important is where the Staffing Industry is today on average. The numbers are not good. While Nesco Resource NPS for clients is at 61%, the industry average is -3%. There are all kinds of reason behind that. One theory is that the demand for staffing agencies has increased because of an overall employment trend shift at the same time that unemployment rates are low. The result has meant that more staffing agencies are competing for a shrinking pool of workers. It’s a viable theory, but it sounds more like an excuse.
- Industry Average Client NPS -3%
- Nesco Resource Client NPS 61%
What’s more likely is that staffing is sometimes treated as a transactional business. Customers have a need and a staffing agency fulfills that need. But a transactional approach ignores all of the subtle variables that go into providing a service. Working with customers to ensure safety compliance and reduce workplace injuries for example, is an area where Nesco helps its customers maintain their compliance ratings and improve their bottom line. Creating programs that increase employee retention through assignment changes, and clearer communication of what jobs may entail is another.
In order to excel in the field, Nesco Resource has to work every day with its clients in a true partnership role to solve problems and proactively enact changes to service for the best possible results. Yes, the high NPS score is the outcome, but the true reward is in customer loyalty and in referral business. It’s a long term approach to this business that, as the average numbers show, is not typical.
Leaders of growing companies are more committed than ever to staying flexible in this stable yet volatile market, making staffing firms the most viable employment partnership,”Eric Gregg
Talent Experience Counts
One part of the Best of Staffing Award that is extremely valuable is its Talent portion. People who are finding work through an agency are the lifeblood of this industry. It essential for a staffing firm to have a high NPS score with this group as well as with its clients.
- Industry Average Talent NPS 24%
- Nesco Resource Talent NPS 52%
But why is this important to the overall service rating of a staffing agency? Because Talent Experience is an often overlooked aspect of any company whether they are using an agency or not. Companies are just beginning to understand the importance of employee satisfaction, but they often ignore the people who are hired temporarily or who are not hired at all. These are crucial touchpoints for a brand and are opportunities or pitfalls for building a positive experience with a company.
Also, Talent Satisfaction is telling for the performance of workers hired through a staffing agency. From turnover to efficiency to qualification of basic skills, a high Talent Satisfaction score means that people employed through that agency is being set up to succeed.
It is impossible to separate out Talent and Client satisfaction scores. While it may seem like there’s a choice between the two, the reality is that in order to excel in one area, a staffing firm must excel in both areas.
Summary: Beyond the Award
Winning recognition for a job well done always feels great. Even knowing the details of the criteria like NPS scores is gratifying for the whole team at Nesco Resource. But, in the end, these scores are only a method to measure service we provide. NPS scores help identify your biggest fans and double down on their support. Not only is this a great way to grow as a company, it helps us learn why we work so well with these companies or individuals. We also can look at passive scores and find out what is keeping them from becoming supporters. Often there are a few small changes to our service that can make a world of difference to our customers and talent. And, of course, there are the detractors. Sometimes things don’t go well and we have to figure out how to make it right. Detractors help us because they are an opportunity to grow, identify problems, and identify better ways to handle problems.
In the end, providing not just great service, but smart service helps our company grow, but it also helps our customers grow and the people who find work grow. It’s that positive dynamic that makes staffing a great industry to work in every day.