By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Wealth Beat NewsWealth Beat News
  • Home
  • News
  • Finance
  • Investing
  • Banks
  • Mortgage
  • Loans
  • Credit Cards
  • Small Business
  • Dept Management
Notification Show More
Aa
Wealth Beat NewsWealth Beat News
Aa
  • News
  • Finance
  • Investing
  • Banks
  • Mortgage
  • Loans
  • Credit Cards
  • Small Business
  • Dept Management
Follow US
Wealth Beat News > Small Business > How To Improve Contact Center Agent Retention
Small Business

How To Improve Contact Center Agent Retention

News
Last updated: 2023/11/22 at 3:21 AM
By News
Share
7 Min Read
SHARE

Brian Tuite is cofounder & CEO of Zenarate, a leader in developing top-performing customer-facing teams through AI Conversation Simulation.

Contents
Why Agent Retention MattersThe Cost Of High Agent TurnoverBest Practices For Boosting Retention1. Foster a supportive work environment.2. Embrace continuous learning and make it accessible and engaging.3. Encourage career advancement.4. Sweeten the pot.

Having spent the majority of my career in the customer care industry, I’ve had the opportunity to watch the continuous advancement of new and smarter technologies that improve contact center performance. While this growth in tech has been highly impactful, there’s one constant we can all appreciate: Humans are still the heartbeat of any contact center and vital to delivering outstanding customer care.

Without skilled, dedicated and confident agents, the customer experience suffers, and poor retention can greatly impact a company’s bottom line.

Why Agent Retention Matters

The challenge of retaining top talent in a contact center environment is no small feat. Today’s customer care organizations continue to experience higher attrition rates than many other industries. According to a 2022 report from Cresta, turnover rates for care/support roles in contact centers were reported as high as 87.6% since the start of Covid-19.

Contributing causes often include high stress levels, inadequate training, lack of advancement opportunities and a more competitive job market. Add the shift to remote work environments, and we’re experiencing an unprecedented turnover that causes too many sleepless nights.

But here’s the good news: It doesn’t have to be this way. Over my years of experience and now in my role as CEO of a company that provides simulation training, I’m seeing more focus and effective approaches to help lower retention rates.

The first step to address the agent retention issue is understanding the drivers and impact of high agent attrition.

The Cost Of High Agent Turnover

It’s no mystery that high agent turnover comes with significant financial and operational costs. Replacing an agent can cost between $10,000 and $15,000. Beyond the direct financial implications, there are other hidden costs to consider.

When contact center representatives leave, it takes time to fill vacant positions. With fewer agents to handle increasing call volumes, productivity decreases and customer care suffers.

In addition, newly hired agents need time to be trained to reach required performance and best-practices standards. This lag in associated preparedness can diminish the quality of service your customers receive. There’s also the issue of how high turnover rates affect team morale when agents continue to see colleagues leave.

Best Practices For Boosting Retention

Optimizing agent retention requires a strategic approach. Here are some best practices I see working with global brands.

1. Foster a supportive work environment.

Customer care agents want to feel valued and respected and like they are part of a team. A positive work environment encourages open communication, collaboration and better performance.

To keep your representative feeling supported, it’s vital to understand their strengths and weaknesses and to help them grow personally and professionally. A supportive work environment—even when remote—can help improve job satisfaction, reduce stress and lower turnover rates. Provide honest feedback and continuous training and recognition for excellence.

2. Embrace continuous learning and make it accessible and engaging.

Continuous learning is crucial to professional growth, no matter the field. For contact centers, regular training and development programs ensure your agents have attainable goals for growth and help them feel they are on the leading edge of industry knowledge and customer care best practices. It can enhance performance and keep agents fully engaged and highly motivated.

Ensure your online training is accessible and simple to use; this way, agents can acquire new skills and knowledge, regardless of technical skills and location, while having a convenient time that works for them. In addition, immersive learning and training can help contact center agents grow and succeed. AI-based training, from virtual reality (VR) and augmented reality (AR) to simulation training, lets agents learn in a highly interactive and engaging environment.

Make sure you also address the need to learn more nuanced soft skills, like problem-solving, empathy and quick decision making.

3. Encourage career advancement.

Career advancement is a key factor in job satisfaction and retention. Agents who see a clear path to advance through your organization will likely stay with it. In addition to customer engagement training, look to provide leadership training and offer mentoring programs that lead to career advancement.

Making career advancement a front-and-center cornerstone of your organization’s culture will help lower retention rates while helping to attract new hires.

4. Sweeten the pot.

With increasing demands and competition in customer care, competitive salaries and benefits packages are essential for retaining top talent. Beyond wage compensation, benefits like health insurance, paid time off and retirement plans are perks that employees love. I also see more organizations offering unique benefits like wellness programs or tuition reimbursement—things that were almost unheard of just a few years ago.

A comprehensive compensation package shows agents their contributions are valued, making happy associates more likely to stay with your organization.

Running a successful contact center is increasingly complex and challenging. The employees working at the intersection of brand and customer are at the heart of great customer care and great business outcomes. The strategies I’ve shared can help you create a happier and more productive workforce vested in your organization and inspired to stay with the company for the long run.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News November 22, 2023 November 22, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Fast Four Quiz: Precision Medicine in Cancer

How much do you know about precision medicine in cancer? Test your knowledge with this quick quiz.
Get Started
Excelerate Energy: Nearby Best Energy-Source Cap-Gain Prospect (NYSE:EE)

The primary focus of this article is Excelerate Energy, Inc. (NYSE:EE). Investment…

Penske Is Steady, But The Road Ahead May Be Bumpy (NYSE:PAG)

Investing Thesis On Wednesday, Penske Automotive Group (NYSE:PAG) released a superficially encouraging…

Top Financial – No, Stop It, This Is Silly (NASDAQ:TOP)

TOP Financial Moves, yes, but why? TOP Financial (NASDAQ:TOP) was quite the…

You Might Also Like

Small Business

Marketing Versus PR: What’s Really Different?

By News
Small Business

Fundraising Strategies For Businesses Scaling Beyond $100 Million

By News
Small Business

The Power Of Personalization In Marketing And Website Design

By News
Small Business

Brilliant Or Lucky? 4 Key Insights For Ventures & Angels

By News
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Contact US
More Info
  • Newsletter
  • Finance
  • Investing
  • Small Business
  • Dept Management

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions

Join Community

2025 © wealthbeatnews.com. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc.

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?