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Did you know that it costs an average of $6,625 to replace a single customer care agent? If you have 100 agents with 50% annual attrition, you are spending nearly $350,000/year to simply stay staffed. .
Now consider the cost of productivity loss. An average agent often takes 4-6 months to become fully proficient, therefore, that same 100-seat contact center team with 50% annual attrition now needs to hire 125 agents to perform the same workload. Chalk up another $1 million in labor costs.
But it gets worse. The real threat is not the direct costs as described above. The biggest impact is the overall customer experience. Contact centers with greater than 50% attrition levels typically struggle to keep up with the CX of their competitors.
Bottom line, any company seeking to win the CX battle within their industry should solve attrition first.
There are other factors that leadership needs to consider: Runaway attrition affects the company reputation, strains HR resources, damages future recruiting efforts, and dampens company morale.
In some cases, the most damaging (and silent) effects of attrition is watching your company trade secrets and knowledge walk out the door (often to a competitor).
THE SOLUTION: Leverage the global talent pool! It’s 2023 and the days of battling over local talent are over. Technology has made it both easy and safe.
Find a reputable US-based BPO partner with offshore centers that can prove they have low attrition. (Hint: Acceptable rates offshore are between 10-30% annual attrition.)
Buwelo BPO leads the industry in providing low attrition CX teams. Many of the world’s most respected brands trust Buwelo to help them build high-performing teams that last.