If you’ve ever used the Net Promoter System (NPS), you can thank its creator, Fred Reichheld, for delivering this highly respected tool that measures employee satisfaction. It has been relied on and used by companies across the world – including eXp. And now, eXp World Holdings has the deep honor of adding Fred’s insight and expertise as a member of the eXp World Holdings Board of Directors, effective Sept. 7, 2023. (Read the press release here.)
“We are honored to welcome Fred Reichheld to our Board of Directors,” said Glenn Sanford, Founder, CEO and Chairman of eXp World Holdings. “For companies that value customer and employee satisfaction and loyalty, as we do, the holy grail is the Net Promoter System. Conducting regular NPS surveys with our agents and staff since 2016 is core to delivering on our agent-centric mission, and Fred shared his wisdom with our team at this year’s Shareholder Summit. I am thrilled to have him on our Board of Directors and look forward to working even more closely together.”
Fred is a Bain Fellow has been called the “high priest” of loyalty and is a sought-after speaker and best-selling author. He presented some of his wisdom during an insightful fireside chat with Glenn and Chief Operating Officer Patrick O’Neill during this year’s Shareholder Summit.
At one point during the conversation, Fred said:
“The highest paid and smartest minds at other companies are there to figure out how to take more out of our customers’ wallets. But Glenn’s use of NPS is what has allowed you at eXp to do what you’ve done,’’ adding that eXp’s stated purpose should simply be:
“We love our agents.”
Glenn seemed to agree, adding: “I want everyone to outearn me. I am thinking about creating a legacy and not what I put in my pocket … I get asked ‘When are you going to raise fees and raise caps.’ The answer is: Never. That’s not how you build a legacy company.’’
Perhaps this was the start of a mutually beneficial relationship that resulted in Fred’s appointment to eXp’s seven-member board, which currently consists of Dan Cahir, Jason Gesing, Sir Darren Jacklin, Peggie Pelosi, Monica Weakley, Randall Miles and Glenn Sanford. With Fred’s addition, Darren will step down, but he will continue to serve on the eXp Realty Canada Board of Directors.
eXp has relied heavily on the Net Promoter System to get direct feedback from agents and staff since 2016, as it has been core to delivering on its agent-centric mission.
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