From Flailing to Prevailing
When Jim Mallozzi was appointed CEO of Prudential Real Estate and Relocation, the company was facing a loss of $70 million per year. The lack of profits, along with a lack of morale among employees and customers, inspired Jim to immediately begin applying principles of positive leadership throughout the company. The result? Contagious, sustainable energy that delivered — and continues to deliver — incredible results. Below are three POS tools Prudential implemented to achieve significant growth within a short amount of time:
"With the help of positive leadership strategies,
Prudential soared from a $70 million loss to a $20 million profit"
Ask for Help. Jim has seen firsthand that asking for help always pays off, and often it comes from completely unexpected places. For example, during Prudential's annual convention, he asked 2,500 participating real estate agents to text or email their very best business tips. Within 36 hours, he received more than 2,200 responses and 900 unique tips, which the company continues to put to excellent use.
Focus on the Fives. Prudential follows a typical client satisfaction survey model that designates a rank of 5 as "outstanding" and a rank of 1 as "very poor." Historically, employees focused on how not to get 1s and 2s. But when they ignored the 1s and 2s and only focused on what they were doing to achieve 4s and 5s, their scores skyrocketed.
Learn to Let Go. Prudential — like all companies — found themselves with clients who sucked up too much energy and were incredibly difficult to work with. Jim gave his team permission to fire these clients, saying, "We're going to stop merely counting clients, and instead have clients who count." This allowed them to focus on generating even more positive service for clients that truly valued them, rather than treading water with those who were perpetually dissatisfied.
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