From the course: Consulting Foundations: Client Management and Relationships

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Introducing value

Introducing value

From the course: Consulting Foundations: Client Management and Relationships

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Introducing value

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- So, what's the point? Why should we hire you to do this? That is the driving question in your potential customer's head. Objectives are what you're hoping to accomplish. Metrics are how you know you were successful. And the value is why you're even bothering to do it in the first place. Here's how to find the value. Let's say you're working with a potential client and their objective is to reduce employee turnover. It's currently at 25%. And they'd like to get that down to 20. Between recruitment cost, lost productivity, retraining, and a hit to morale, it costs an organization about $30,000 to replace a mid-level employee. And that's a conservative estimate. This company has 1,000 employees. 25% of them, about 250, are quitting every year. Turnover is costing them $7.5 million a year. Now, let's say you're able to meet their objective and help them cut turnover by 5%. That means that only 200 employees would quit every year, saving the company $1.5 million every year. Achieving the…

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