The Nationwide has won an accolade at the inaugural Marketing Research Awards 2003 for its work to prove the link between customer and employee satisfaction and business results.
Nationwide and research consultancy ORC International jointly collected the award for first place in the financial category of Marketing magazine's first ever research awards.
Nationwide and ORC International have developed a mathematical analysis tool that reveals the link between employee commitment, customer satisfaction and business performance. They have calculated that a 1% increase in staff satisfaction equates to a 2.3% increase in sales of personal loans.
Working alongside the building society's planning and development team, ORC International uncovered strong links between people management and its product sales, after analysing data from a mix of human resourcesindicators, a staff attitude survey, sales figures and extensive customer research.
ORC International managing director Nigel Maxfield says: “One of the factors that drives positive customer perception and buying intention is the impact of the behaviour of customer-facing employees which is, in turn, driven by their commitment and pride in their employer.
“Given that the Nationwide is now using the results of our research to inform their business strategies and HR policies, we are all proud that our contribution has been recognised.”