Employee Attrition Continues to Plague Contact Center Industry: How We’re Changing That

For years, the call and contact center industry has been challenged by one of the highest employee attrition rates of any industry.  Various research studies have been commissioned on this topic and the consensus is that benchmark turnover rates fall between 30-45%, which is more than double the average of all industries. In some segments of the call center space, the rate exceeds 200%.

While the natural assumption is that low pay alone is the primary reason for such high attrition, these studies prove that nothing could be further from the truth.  Consider:

• Stress: According to Uniphore, 77% of call center employees say they are stressed out.
• Difficulty With Technology/Tools: According to Benchmark Portal, 51% of call center agents cite poor tools as their primary source of frustration.
• Lack of Recognition: A compelling study by Bersin & Associates revealed that companies with formal employee recognition programs in place experience 31% less attrition.
• Disengaged Employees: SQM’s agent engagement research shows that only 27% of agents are highly engaged, 10% are engaged, 57% are indifferent to working in the call center, and 5% are highly disengaged
• No Clear Career Path: High pay isn’t the only thing that motivates employees; they also want to master their skills and understand that they have a clear path to growth

There is one common thread with these reasons for turnover:  the lack of a robust employee development program.  Far too many companies in our industry implement new hire training program that is more of a one-time “check the box” exercise.  In our experience, sustained success will only be achieved through an ongoing commitment to employment development that goes far beyond initial training.

Xperisource has developed a world-class employee training and development program that includes:

• Robust New Hire Training:  Rather than a half-day orientation or 3-day training session that so common in our industry, Xperisource is committed to providing up to weeks of classroom training, which includes lectures, hands-on activities, and side-by-side training with someone on the floor.  New hires must obtain passing scores on quizzes, a test on the protecting consumer data, and a final exam as well as show the necessary skills.
• Gateway Training: Training does not stop after the initial classroom period.  Our gateway training program continues new hire training on the floor. Applying the wealth of information covered in the classroom, gateway training allows new hires to apply their learning under careful guidance  to ensure they are doing the job right.
• Ongoing Training: Our success is based on our ability to retain the best and brightest and provide a career, not just a job.  Every employee receives ongoing training and support to make this possible. This can include classroom training when systems or processes change, refresher compliance training or the implementation of company-wide initiatives.
• Formal Recognition Programs: From recognition programs like employee of the month to company wide emails showcasing the great work of individual employees, we make sure our team members know they are valued and appreciated.
• Career Path: Our CEO, Louis Ochoa, is well known for identifying and fostering talent.  He has made providing opportunities for advancement a key part of our corporate culture, so our employees are given the opportunity for true career development…not just a “job.”
• Leadership Training: Our leadership training program focuses on passing on the skills and experience of our core management team to our next generation of leaders. For example, we have a variety of management and leadership books that expose our leaders to relevant concepts focused on engaging with and developing employees. The concepts are discussed in a group setting led by the core management team. Additional training sessions focus on the skills and knowledge we expect all our leaders to have.

We are firm believers that high turnover has a direct negative impact on the customer experience. That why we have invested so heavily in programs that keep our agents engaged, satisfied, and loyal.

Ready to engage with a customer care and loan servicing partner that hires and retains the best of the best? Reach out to us at 888.722.0829 or louis.ochoa@xperisource.com