Metrics that matter: employee retention
How to meet your KPIs with the metric that matters the most
Voice of the customer. Sales Conversions. Average handling time. First-call resolution. These are just some of the key performance indicators (KPIs) by which we measure the success of contact centers today. But if your contact center struggles with one critical metric, you might as well forget about hitting AHT, FCR and VOC targets. And that’s employee retention.
So it should be no wonder that “high attrition” regularly tops the BPO industry’s top three challenges, year after year, according to surveys. And it’s one of the many reasons that VXI Global Solutions has been named Best Contact Center and BPO Company of the Year – for the third consecutive year, in addition to Most Innovative Company and Employer of the Year for 2018, at the 2019 ICT Awards Philippines. In an industry challenged to hire and retain good employees – and where average retention rates range from 20% to 50%, depending on who you ask – VXI is proud to have a voluntary attrition rate of just 1.2% per month.
VXI makes investments in its employees that pay off for our client-partners, with customer loyalty, increased share of customer, and better efficiencies in the BPO space. Let’s take a look at how we do it.
Passion for the people
With the competition for talent being so fierce, our “Passion for the People” isn’t just a slogan. It’s about an everyday focus on constantly working to help our employees succeed. It means investing in developing authentic and caring leaders who will build VXI’s great culture.
We’ve invested heavily in our leadership development programs. And it shows in our internal promotion rate, which now stands at 91%. In fact, 75% of VXI’s management staff have been promoted from the agent level – which means they possess a working knowledge of their subordinate’s job function, and are highly skilled and empathetic leaders, coaches and mentors.
VXI has an award-winning, in-house technology arm with over 2,000 developers and programmers called Symbio. This technology unit has a two-fold focus: First, delivering exceptional business results for our client-partners by meeting the shifting needs of their customers. Second, helping our agents to grow and succeed in their roles by providing them with a suite of enabling technology that is highly sophisticated and intuitive.
Our award winning tools include Training Simulator, a training platform that immerses customer engagement associates in virtual environments that re-create real-life call scenarios to expedite knowledge absorption. Our training platform tremendously shorten learning curve and develops skilled, tested confidence workforce that delivers 20-40% greater results in Sales, VOC/NPS while reducing AHT and total training duration. This is further complimented by Performance Pro 360, a coaching and development platform designed by contact center experts to meet the challenges that those of us in contact centers face every day. Together, they not only improve performance, but improves over all employee satisfaction and retention in the process.
Making a difference in our community
Employee pride is a big part of the VXI story. Proud employees make satisfied employees, and proud, satisfied employees stay with our company and tell others about it – which has a compound effect on our recruiting efforts. One point of pride is that we are a certified Minority-Owned Business (MBE).
Also significant is that we are passionate about providing the community with hope for a better future. We believe that happy, healthy and financially responsible employees can actively contribute to community and nation building. Here are a few ways we’ve done this:
A leader in the ‘BPO capital of the world’
We are proud of the achievements of our entire Philippines team, who have worked hard to build the industry’s best sales and customer service capabilities. As the “BPO Capital of the World,” the Philippines remains one of the first places organizations look to get an edge on customer service delivery. VXI’s 13,500-plus employees in the Philippines alone complements our strategic global footprint, reinforcing our close cultural affinity with the U.S. and the rest of the Western world.
To learn more about our consistent success within this competitive market, brought about by ongoing investment in technology and an unwavering passion for our people, please contact me.