- Published on 14 August 2014
- Written by Victor Martinelli (Hispanic Guru)
- Hits: 4698
Attrition is one of the most suffered sicknesses that call centers have. Companies loose thousands of dollars/pesos/euros/rupees due to the attrition levels growing month after month. This is a real nightmare for Call Center CEO’s where in average their annual turnover ratio ranges between 25 to 60% per year.
Let’s put an example to get into perspective & visualize a little the money lost in attrition:
- Call Center: 200 Full Time Employees
- Average Yearly Attrition Ratio: 30%
- Cost Involved for each attrite replaced by a new hire: USD 3, 000.00 Dollars (Estimated)
- Recruitment Cost
- Training Cost
- Performance Learning Curve Cost
- Lost Employees: 60 per year.
- Annual Investment on Rehire Process: USD180,000.00 Dollars per year
In this example, a small 200 FT employee Call Center invests USD 180,000.00 Dollars per year on churn. There are several strategies that a company can implement to reduce churn here are the 10 strategies to reduce attrition:
1. Employee Recognition Program: These types of programs are strategic to improve the agent’s morale as well as promote competition among coworkers. Something very important is to set a strategic place to publicly recognize the top performing agents, the leadership talent, innovators as well as employee of the month. Some successful Call Centers make Performance Evaluations every month and average the scorecards throughout the year to recognize on an Annual Special Dinner Event for the Employees of the year in different categories.
2. Career Path for Growth Opportunities (Invest on Development)
3. Communication & Constant Feedback
4. Focus on the Person not on the Number
5. Employee Wellness & Work Balance Program
6. Employee Integration Activities
7. Employee Temperature Meter (Voice of the Employee)
8. Collaborative Innovation Program
9. Employee Mission, Vision, & Values Alignment
10. Outsource a Volume of Your Call Center (Transfer the cost & risk to an expert)