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Luiz Zorzella shares an article that identifies key insights for improving a service team’s performance and results.

If your firm is organized around service teams, you may find that understanding and managing their contribution is difficult.

It is not easy because it depends on several logic leaps that sound intuitive but are opaque.

For example, you may set goals and even reward them for keeping the clients in their portfolio happy. You may achieve this through a combination of client satisfaction surveys (e.g. “how happy are you with our services?”) and management assessments (“I think clients are happy with Sam”).

However, are you sure you measure the right things? And are you sure the weight of these factors is commensurate with their real importance to your business and your clients?

Intuitively, service teams should make their clients happy (and I am not saying otherwise). 

However, how does happiness compare with cross-sales?

To answer these questions, you should take a closer look at the contribution of your service teams.

There are three crucial ways service teams produce financial results to your company:

They provide services to their clients efficiently.  

Clients pay for services.  

The income produced by these clients for services by the end of a year minus their variable costs is the contribution of that service team to the company.

 They also reduce attrition and risk.

Points covered in this article include:

• Setting goals and defining priorities 
• Defining the starting point of the pool for incentives
• Understanding and managing KPIs

Read the full article, How To Have Value Indicators For Your Service Team, on Amquant.com