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JPMC Consulting

Predictive Analytics -- Future Insights
Wrong choices waste time, money, and opportunity

Use Predictive Analytics for
Marketing   |   Customer Engagement   |   Employee Engagement

Unlock the potential of your valuable time and resources by eliminating the frustration of unmet expectations. Say goodbye to aimless data and hello to a clear path forward with PMI's revolutionary Predictive Analytics solution.   Our tailored predictive analytics provide invaluable insights for optimizing marketing strategies, enhancing customer engagement, and boosting employee satisfaction. Harness the power of data-driven, predictive analyses to attract more customers to your business and lead your organization towards improved productivity, performance, and engagement. Let Predictive Analytics reshape your business by identifying the crucial factors that drive future results and crafting a winning strategy to elevate performance to new heights.

Predictive Analytics for Recruitment, Marketing, and Training

Interviewing, Recruitment and Hiring

When not utilized effectively, job boards can devolve into an uncontrolled experiment. Their capacity to elevate the caliber of job applicants remains constrained, often resulting in an influx of quantity rather than a discernible enhancement in quality.

As a result, the talent pool remains stagnant year after year, mirroring the persistently high rate of disengaged employees, currently standing at a staggering 80%. This unsettling scenario often results in detrimental consequences, where disengaged employees cater to dissatisfied customers while adhering to an ineffective strategy. In response to this challenge, we proudly introduce our groundbreaking solution: Predictive Analytics for Interviewing, Recruitment, and Hiring.

Marketing

Many commonly used marketing metrics have lost their effectiveness. Are you still relying on NPS or Satisfaction Scores? It's time to reconsider. The once-relevant 20/80 rule has evolved into the new standard: the 50/50 rule./p>

Under the 50/50 rule, it's important to recognize that both loyal and disloyal customers can generate equal revenue. In essence, half of your customer base may be loyal but not entirely satisfied, and this overlooks the genuine indicators of value and engagement—the emotional aspect of purchasing behavior. Consequently, the risk of defection to a competitor remains an ongoing concern.
The NPS is even more unstable. To achieve a Net Promoter Score (NPS) of 20, there are two potential scenarios: Scenario one involves having 20 percent promoters, 80 percent passives, and no detractors. Scenario two consists of having 60 percent promoters, 0 percent passives, and 40 percent detractors. It's crucial to understand that the current and future sales outcomes for a company with 20 percent promoters and no detractors are significantly different from those of a company with 60 percent promoters and 40 percent detractors. To address this discrepancy and make informed marketing decisions, J-PMC recommends leveraging Predictive Analytics for Marketing. This tool provides valuable insights to predict and effectively attract engaged customers.

Training

When employees, initially recruited for specific roles, fall short of expectations, merely providing additional training often falls short of delivering the desired improvements. This is because the effectiveness of learning hinges on whether it's tailored to align with each employee's individual perspective and understanding of the world. In essence, a uniform, one-size-fits-all training approach may prove inadequate in closing the performance gap.

Rather than fixating solely on 'weaknesses' or 'skill gaps' during a Performance Improvement Plan (PIP), an approach that often yields limited results, PMI adopts a distinctive strategy. We place a strong emphasis on recognizing and nurturing the innate strengths within the organization, extending this focus to every individual employee and customer. Our distinctive solution lies in harnessing the power of Predictive Analytics for Training, ushering in a new era of performance enhancement.

How are Disengagement, Sales, and Profits Linked?

Numerous companies justify turnover and customer disengagement as an unavoidable cost of operations. Some even undervalue front-line employees, despite the fact that they serve as the initial and concluding points of contact with customers. Nonetheless, the root causes behind customer and employee departures are straightforward, and their financial impacts can be readily quantified.
Extensive research has consistently demonstrated that turnover expenses can range from 90% to 200% of an employee's annual salary. Taking the median cost of 140%, the departure of a single employee with an annual package of $40,000 would result in a cost of $56,000. If this scenario were to repeat for 20 employees, the estimated annual cost would skyrocket to a staggering $1,120,000.

According to research conducted by the Gallup Organization, the primary reasons for employee turnover can be summarized as follows: Issues with Immediate Managers: Employees often leave their positions due to problems related to their immediate supervisors. This includes issues such as unclear job expectations or inadequate access to necessary equipment, materials, or resources. Poor Job Fit: Another significant factor contributing to turnover is a perceived poor fit for the job. Employees may feel that they are not given sufficient opportunities to utilize their strengths on a daily basis, which can lead to dissatisfaction and ultimately their decision to leave.

Based on estimates provided by the U.S. Bureau of Labor Statistics, the cost of replacing an employee can range from half to five times their annual salary. Assuming an average annual salary of $52,000 and an average employee turnover rate of 30%, a call center with 600 seats would incur an annual cost of over eleven million dollars due to employee turnover. This substantial cost underscores the importance of addressing turnover issues to improve the center's overall efficiency and financial performance.
PMI provides a data-driven system for benchmarking and hiring top-performing employees. Our tailored screening surveys are designed to forecast exceptional performance levels, setting us apart from our competitors. As an illustration of our capabilities, the chart below demonstrates our ability to predict not just average but superior performance.
We can accurately predict the likelihood of someone becoming an above-average employee with 70% to 96% accuracy. The difference in prediction itself is a profit center.

What's New

J-PMC Now Provides Service in Indonesian

Good Employee Index Developed

High Performance EQ Training Now Available

Spanish and Thai Version of the EQ-NP Validated