 PMC Stars
This section of the PMC Newsletter is dedicated to showcasing the achievements and contributions of our PMCs in the field of management consultancy. For this edition, our PMC Star is Noel Capel of Tiptop Consultants.
PROJECT BACKGROUND
Cash Converters is a unique business that offers people an opportunity to be environmentally friendly and earn money at the same time. They now have 7 outlets, strategically located in the heartlands to cater to customers who would like to buy or sell in a quick, convenient and professional way.
Living up to its tagline "A better way to sell, a great place to shop" Cash Converters started with a Mystery Shopper Programme as far back as 2004 to gauge the service performance of their Retail and Buy Sections. This passion for service excellence further extended to their support for the Customer-Centric Initiative by Spring Singapore in 2006 to further enhance the knowledge, skills and professionalism of their staff and service offerings.
CONSULTING ACTIVITY
Noel worked together with Cash Converters Managing Director Mr. Jeremy Taylor and his management team to develop the Vision, Mission, and Values.
In line with the requirements under the Business Excellence Niche Standards (Service) and Tiptop's Total Service Management approach, he identified Cash Converters' "Service Impression Moments" and developed service standards, training modules and service metrics to drive and reinforce the service culture.
A series of modules was customised and attended by the management team. The hands-on approach and commitment of the management team was instrumental in facilitating the journey towards service excellence. Staff also attended a module to align themselves to the Vision, Mission and Values as well as their role in the chain of service to customers.
 To ensure the transfer of knowledge and skills from the classroom to the shop floor, Noel coached Cash Converters' Master Coaches to champion, cascade and audit the service performance of all their outlets. In addition, benchmarks were established from the Mystery Shopper Survey results and KPIs set by individual outlets to close the gaps.
Store Managers were coached to conduct daily briefings that focused on business and service goals and follow up with service reviews with individual staff, including part-timers, to build and reinforce the service standards and culture.
The journey was not without its challenges which included getting staff buy-in as well as ensuring the Store Managers reinforced the service standards. To this end, the Human Resource Manager, Operations Manager and Area Managers were instrumental in facilitating the change.
OUTCOMES
Staff at Cash Converters felt recognized by their management and this resulted in increased self confidence leading to better performance on the job. This was reflected in the recent Staff Climate Survey where 88.2% agreed that they had training which enabled them to do the job well and 85.1% felt the managers encouraged and supported their development.
Other success indicators include progressive improvements in the Mystery Shopper Survey results to 72%, customer compliments to complaints ratio to 6:1, and an overall improvement in sales and buys.
Cash Converters has also embarked on reviewing and enhancing processes and services for a holistic, comprehensive and strategic approach to serve their customers better.
The success of Phase 1 of the Customer-Centric Initiative has spurred them to continue with Phase 2, which includes embarking on the S-Class.
A POSITIVE PARTNERSHIP
The practical and results-oriented approach taken as well as the great amount of trust and collaboration between Noel and Cash Converters contributed to the success of the project for both parties.
 The high level of involvement, openness and passion to make a difference by Mr. Taylor and his team was critical in the drive towards service excellence. In an environment where there is often difficulty in recruiting staff, let alone delivering basic service standards, staff turnover at Cash Converters is at 2.4%, much lower than the industry average of 5%. This is a strong indication of staff loyalty, dedication to the job and recognition for their professional development through the various service initiatives embarked on thus far.
The journey towards service excellence and building a strong service culture is not a 'one-off' event. It is an on-going process, where companies are continuously striving and looking for opportunities to raise the bar for service and business excellence. For Cash Converters, the journey never ends.
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