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The Relationship Between Customer Relationship Management, Employee Retention, and Revenue Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2020 The Relationship Between Customer Relationship Management, Employee Retention, and Revenue Bui Thanh Van Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Finance and Financial Management Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral study by Bui Thanh Van has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. James Glenn, Committee Chairperson, Doctor of Business Administration Faculty Dr. Lisa Cave, Committee Member, Doctor of Business Administration Faculty Dr. Kenneth Gossett, University Reviewer, Doctor of Business Administration Faculty Chief Academic Officer and Provost Sue Subocz, Ph.D. Walden University 2020 Abstract The Relationship Between Customer Relationship Management, Employee Retention, and Revenue by Bui Thanh Van MS, University of Applied Sciences and Arts Northwestern, 2009 BS, University of Tasmania, 2000 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University Nov 2020 Abstract Downsizing campaigns and employee layoffs can result in poor customer service leading to service revenue losses. Understanding lost service revenue predictors is critical for leaders and managers to maintain and increase organizational growth and financial performance. Grounded in the service-profit chain theory, the purpose of this quantitative correlational study was to examine the relationship between customer relationship management (CRM), employee retention, and service revenue. Data were analyzed for 80 leaders and managers working in Vietnam’s industrial service field. The results of the multiple regression analysis indicated the full model, containing the 2 predictor variables (CRM and employee retention), was able to predict service revenue significantly, F(2, 72) = 7.608, p = .001, R2 = .174. Only employee retention made a statistically significant contribution to the model (β = .416, p < .001). A key recommendation is for leaders and managers of industrial firms to prudently implement service diversification and human resource management strategies to maintain employee retention for increasing growth and financial performance to improve CRM. The implications for social change include the potential to raise service levels for customers, empower employees, and increase the tax base to improve the quality of life for all stakeholders in the community. The Relationship Between Customer Relationship Management, Employee Retention, and Revenue by Bui Thanh Van MS, University of Applied Sciences and Arts Northwestern, 2009 BS, University of Tasmania, 2000 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University Nov 2020 Table of Contents List of Tables ............................................................................................................................................. v List of Figures ........................................................................................................................................... vi Section 1: Foundation of the Study ..................................................................................................... 1 Background of the Problem ............................................................................................................ 1 Problem Statement ............................................................................................................................ 2 Purpose Statement ............................................................................................................................. 3 Nature of the Study ........................................................................................................................... 3 Research Question and Hypotheses ............................................................................................. 5 Theoretical Framework .................................................................................................................... 5 Operational Definitions ................................................................................................................... 7 Assumptions, Limitations, and Delimitations ........................................................................... 8 Significance of the Study ................................................................................................................ 9 Contributions to Business Practice ........................................................................................ 9 Implications for Social Change ........................................................................................... 10 A Review of the Professional and Academic Literature ......................................................11 The Service-Profit Chain Theory ........................................................................................ 14 Customer Relationship Management ................................................................................. 21 Customer Lifetime Value ...................................................................................................... 28 Customer Satisfaction ............................................................................................................ 29 Customer Retention ................................................................................................................ 30 Service Quality ......................................................................................................................... 32 i Customer – Employee Interaction ...................................................................................... 35 Employee Retention ............................................................................................................... 37 Employee Satisfaction ........................................................................................................... 42 Revenue Performance ............................................................................................................ 43 Measurement of Research Variables ................................................................................. 47 Transition ...........................................................................................................................................50 Section 2: The Project ...........................................................................................................................51 Purpose Statement ...........................................................................................................................51 Role of the Researcher ...................................................................................................................52 Participants ........................................................................................................................................53 Eligibility Criteria ................................................................................................................... 53 Strategies for Accessing and Establishing Relationships With Participants .......... 54 Alignment of Participants’ Characteristics and Research Question ......................... 54 Research Method and Design ......................................................................................................55 Research Method ..................................................................................................................... 55 Research Design ...................................................................................................................... 57 Population and Sampling ..............................................................................................................58 Population Characteristics and Research Question Alignment .................................. 59 Ethical Research ..............................................................................................................................62 Informed Consent Process and Incentives for Participating ....................................... 63 Ethical Protection of Participants ....................................................................................... 63 Confidentiality, Data Storage, and Agreement Documents ........................................ 65 ii Data Collection Instruments .........................................................................................................65 Customer Relationship Management ................................................................................. 66 Employee Retention ............................................................................................................... 66 Service Revenue .....................................................................................................................
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