October 28, 2004
How To Keep Your Employees Happy
Genencor International, a US-based biotech company, has an ingeniuous way to keep its thousands of employees happy and productive: by allowing them to design their own headquarters. Fast Company reports:
Genencor International's headquarters in Palo Alto are the physical manifestation of what happens when you effectively transform employees into designers of their own work environment. The 1,260-employee, $380 million company, which focuses on health-care products and enzymes, such as those used in Tide laundry detergent, has generated remarkable worker loyalty and greater productivity. Its turnover rate was less than 4% in 2003. The national industry average is 18.5% and the Bay Area's is 17.8%, according to the Radford Surveys. This isn't a one-year blip either. When the economy was roaring in the late 1990s, Genencor's turnover rate hovered around the same level.Better than stock options, eh?
By @ 12:26 PM | Trends & Insights | Comments (0) | Article Link
Lay aside any concerns of which wine to choose and purchase. With Tuscany Market & Vineyard's automated wine dispensing system, you can now experience state-of-the-art wine tasting! This system is the first of its kind in the United States. You no longer have to take chances with your wine selection - now you can enjoy a taste before you buy a bottle.
With the advent of technology, it is not surprising that a timeless and poetic experience of wine-drinking is improved upon by the simple concept of allowing customers to sample the wine first and ensuring that they like the wine before purchasing the whole bottle. As Tuscany's co-owner Mike Sattler puts it, "This creates the ability for people to taste wine, experience it, learn, and go."
And don't forget the customer service. Umpqua employees train under Ritz-Carlton's elite customer service program. One business reviewer describes the whole shebang as "more like the love child of a W Hotel and a Sephora boutique than a financial institution". Umpqua is striving to be the friendly neighborhood financial institution.
Although Umpqua is not the only bank with a boutique-style and cushy service, the idea is a cool one. It emphasizes the importance of customers' welfare and gives a better aesthetic appeal. Comfort and style is also incorporated to enhance their customers' banking experience/process. This will definitely appeal to customers and help draw more customers with the appeal and also to maintain your current pool of customers. Also, by combining community access, it is also reaching out to a broader base of customers. Umpqua goes a step further beyond selling. It knows how to deliver on that - and that's no small change.
and with Target Corp.'s brainchild, they might just revolutionize the way we shop online! Target Corp. is trying to mass customize its product. On one hand, it will not lose its competitive edge when it comes to prices as mass production lowers costs. On the other hand, it attracts and maintains loyalty among its customers as it can provide a more personal and more customized service that other e-shops might lack. Thus, it is a good idea that we keep in mind the fact that consumers want convenience, efficiency while still maintaining that personal touch in their shopping experience!
