The Curse of Short-Termism 469 Filed under - Archived Content We focus on the immediate future: The stock market obsesses about interim returns Politicians like to see instant results Managers must hit quarterly targets We rarely look beyond the next 6 months. It is easy to hit a short-term target It doesn’t take too much talent or imagination: If you have to cut costs — sack some employees If you want to improve profits — skimp on the after sales service If you must increase sales — slash prices for new prospects Just don’t worry too much about the long-term implications. But short-term targets mortgage the future They destroy your customer’s trust: If the employees have been sacked then there is no one to help them If the service is poor they will vote with their feet They get most upset when they see that their neighbour has bought the same product for half the price Customers who don’t trust you become short-term customers Which in turn leads to short-term revenues. This is a problem — unless you believe finding another customer is as easy as setting a short-term sales target. Any jerk can have short-term earnings. You squeeze, squeeze, squeeze, and the company sinks five years later ~ Jack Welch Author: Jonty Pearce Published On: 28th Oct 2015 - Last modified: 13th Nov 2018 Read more about - Archived Content Contact Centre Reports, Surveys and White Papers Get the latest exciting call centre reports, specialist whitepapers and interesting case-studies. Choose the content that you want to receive. Contact Centre Reports, Surveys and White Papers Invites to exclusive Webinars & Events Weekly Newsletter