Increasing Retention Through Close Collaboration
Using Market Research to Stay Competitive & Improving Training Programs to Boost Morale
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Challenge:
An award-winning financial services company with a presence in over eight states turned to Parker over a decade ago to support their contact center staffing. Over the years, they navigated continuous changes in the market, as well as new contact center best practices. When they began experiencing higher turnover and other retention challenges, they knew they needed to make changes, but required more insight and external perspectives.
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Solution:
Parker conducted a market analysis to provide critical insight about the competitive landscape our client was operating in. We also developed custom reporting to show historical trends and surface key issues. We also went to the client sites to observe the onboarding and training experience. We then partnered with our client’s line-of-business leaders to develop a comprehensive presentation of our findings and recommendations to help them build a business case for executive leadership.
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Results:
With Parker’s help, our client’s line-of-business leaders secured a significant compensation increase for their staff—a change that radiated throughout the ranks and ultimately helped increase morale. Based on our feedback, they also made changes in their training approach to help increase retention.