Renew Financial announces loyalty and satisfaction significantly higher than the benchmark
OAKLAND, Calif., Aug. 23, 2022 /PRNewswire/ -- Renew Financial (Renew), the nation's most experienced and one of the leading Residential Property Assessed Clean Energy (R-PACE) financing companies, is proud to report a Net Promoter Score (NPS) of 77 compared to the financial services average of 34, outshining the competition.
An NPS of 77 positions Renew Financial as a best-in-class R-PACE company in the nation and ties it with one of the top five FinTech companies, Funding Circle, and only 13 points away from the highest rated FinTech company, SoFi.
The NPS is a measure of customer satisfaction calculated based on responses to a single question: How likely is it that you would recommend our company to a friend or colleague?
NPS can be as low as −100 (all detractors) or as high as +100 (all promoters). The calculation is simple: the percentage of promoters minus the percentage of the detractors as determined by the survey. Scores of +50 and higher are typically considered "best in class."
Renew Financial regularly measures its NPS by surveying its customers and contractors. This ranking marks the 7th consecutive year Renew Financial has maintained a score above 50, reflecting the company's sustained effort to provide a positive, respectful and beneficial experience to homeowners in California and Florida.
Pam Rodriguez, Head of Marketing at Renew Financial, said, "This year's survey response was overwhelmingly positive, and in fact, the score we received is the highest in the company's history. We've been calculating our NPS since July 2016, which is a valuable benchmark for assessing the overall quality of our customer service by constantly gathering data and insights and reacting promptly if we notice any changes in our score. This year's NPS score is a true testament to the people behind the scenes who work daily to make each PACE financing transaction happen."
Additionally, Renew Financial was recertified last month by the Great Place to Work® for the 2nd year in a row. The prestigious award is based entirely on what current employees say about their experience working at Renew Financial. 87% of employees said it's a great place to work this year – 30 points higher than the average U.S. company.
Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation.
"Great Place to Work Certification™ isn't something that comes easily – it takes ongoing dedication to the employee experience," said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work. "It's the only official recognition determined by employees' real-time reports of their company culture. Earning this designation means that Renew Financial is one of the country's best companies to work for."
Commenting on the results, CEO of Renew Financial, Mark Floyd, said, "Customer and employee satisfaction are two of our most important objectives. The high satisfaction levels among our customers and employees, as confirmed by the NPS survey and the Great Place to Work recertification, are therefore very gratifying. With Renew's culture of constant improvement, we will continue sharpening our offering to increase customer and employee satisfaction and loyalty even further. We owe our continued success to our dedicated employees at Renew Financial. We celebrate and thank them for all they do to earn such incredible achievements."
Renew Financial Group LLC (Renew Financial) is one of the nation's leading financing providers for sustainable building improvement projects with a bold vision to create financial access to a safe, healthy, and sustainable world. Renew Financial administers the Residential Property Assessed Clean Energy (R-PACE) program in California and Florida to strengthen communities by making homes and businesses safer, more energy-efficient, and more valuable. Renew Financial has funded more than $1.1B in PACE projects that have led to greenhouse gas reductions (GHGs) of nearly 1.5 million metric tons, equivalent to removing over 300,000 cars from the road, contributed to the creation of over 15,000 local jobs, and savings of over 2 billion gallons of water. Renew Financial is a trademark of Renew Financial Holdings, Inc.
Great Place to Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™.