T HE S UPERIOR E NGINE How to use a Superior Standard of Care
to Drive Business Success D ALBAR, Inc. | 600 Atlantic Avenue |
Federal Reserve Plaza | Boston, MA 02210 | 617.723.6400 |
www.dalbar.com
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2 A Superior Standard of Care drives success only when Deployed
in any or all of three ways Properly connected to the business
Pulling in the right direction A N E NGINE TO P ROPEL B USINESS S
UCCESS D ALBAR 2015 D ALBAR A Superior Standard of Care
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T HREE W AYS TO T AKE A DVANTAGE D ALBAR 2015 3 D ALBAR A
Superior Standard of Care Clients have a better reason to select
and remain with you through market differentiation Less confusion
and complexity reduces needs and frequency of service Regulators
and clients have less reason to challenge and lower chance of
prevailing
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4 D ALBAR 2015 D ALBAR A Superior Standard of Care Example A S
TRATEGY TO E NHANCE R EVENUE Compelling Sales Message: Three
reasons to do business with us: We talk to you in plain English We
listen to you Our standard of customer care is independently
certified first tier
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5 D ALBAR A Superior Standard of Care D ALBAR 2015 Example O
UTCOMES T HAT L OWER E XPENSES Phone Center Volume: Results:
Complete 95% of requests on the first call Answer 95% of calls with
no hold time Delight 75% of callers who start out angry Have 27%
lower call volume than comparable firms
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6 D ALBAR A Superior Standard of Care D ALBAR 2015 Example H OW
L IABILITY IS L IMITED Complaint Experience: Informal Complaint
Volume: Annual volume of arbitration filings down by 40% 50% lower
than previous market decline Paid settlements down by 75% Third
party due diligence process qualifies for 20% reduction in premium
Charges/Filings Resolutions Insurance Premiums
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The Connection with the Business 7 D ALBAR A Superior Standard
of Care D ALBAR 2015 T IE TO P ERSONAL R EWARDS M EASURE W HAT M
ATTERS D EMONSTRATE C APABILITIES Incentive for achieving measured
goals Group and individual recognition Link to corporate goals
Identified improvement Desirable outcomes Controllable factors
Monitor for consistency Communicate success Support claims of
achievement Use in public relations, sales and marketing
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S KILLS M ANAGEMENT C OMPLIANCE T OOLS R EWARDS B UDGET 8 Align
Direction of All Forces D ALBAR A Superior Standard of Care D ALBAR
2015
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9 How to Apply a Superior Standard of Care D ALBAR A Superior
Standard of Care D ALBAR 2015 S TEPS : Define desired
improvementsIdentify motivation for making improvementsDefine the
span of control to make changesSpecify favorable outcomes and
timeframesAssess the current plan/progress
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10 D ALBAR R OLES : Supporting a Superior Standard of Care D
ALBAR A Superior Standard of Care D ALBAR 2015 Providing:
Assessment of your current course Measurements of what matters to
you Certification of your accomplishments
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11 D ALBAR A Superior Standard of Care D ALBAR 2015 Interested
in learning more about how your firm can achieve and maintain a
Superior Standard of Care? Contactustoday Contact us today!
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