Loyalty360 Reads: July 25th, 2018

The latest news in the world of customer experience and customer loyalty.

Chord-Cutting Continues

Traditional cable continues to go away with each passing year. Online streaming is dominating the market, giving users access to specific shows/networks without being forced into paying for full packages. Cord-cutters -- defined as people who no longer have access to traditional pay TV services, have grown in number the last few years and are projected to continue their growth. The amount of cutters will climb to 33 million people this year, a 32.8% increase from 2017. Not only are streaming services providing convenience to consumers, but their original content is now also pulling traditional cable viewers away from the chord.

Nike Increases Wages All Around

On the employee engagement front, Nike has always been heavily involved with trying to provide great benefits to most of its workers. From a salary standpoint, the brand will do its part to help make the lives of its employees a bit easier. On Monday, the brand announced it would be increasing the salary of 7,000 employees, or 10% of its global workforce. Inclusion and empowerment are two of the key drivers that helped fuel the move by the brand. Nike also changed its bonus structure. Bonus determinations used to be based on a combination of company, team and individual performances. Now they'll be based solely on company-wide performance. After a few allegations by previous employees about the toxic nature of Nike’s work environment last year, the brand was not afraid to make the necessary changes needed in order to keep employees safe and engaged. Good on them for actively taking a stance against workplace toxicity.

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