Did you know that companies don’t “break even” on the costs of recruiting, hiring, onboarding, and training a new customer service rep until 12-18 months into that rep’s tenure? If a rep leaves before that point, the company loses out on at least some of the money (almost $12,500) they spent on that rep (see the graphic below for our estimated break-even point in a rep’s tenure). In the customer contact world, we’ve become used to high rep turnover within our organizations. But should we just accept that? Shouldn’t we be looking for ways to keep our reps, and especially our high-performing reps, around?
In this year’s research on “The Portrait of the New High Performer” we discuss ways to find, hire, and retain a new profile of rep: the Controller. This type of rep is best at consistently providing low-effort service. And if we’re focusing on finding and hiring a new profile of rep, retention becomes especially important. Because if we’re spending all this time and effort (and money) to find and hire new reps, we want to make sure we’re holding on to them as well.
In the study, we identified two main retention drivers that set Controllers apart: they want miscellaneous perks and organizational responsiveness. Miscellaneous perks are non-monetary rewards or incentives for high performance. Organizational responsiveness reflects a commitment on the part of your company to soliciting rep feedback and using that feedback for continuous improvement. We have several great cases on organizational responsiveness within the “New High Performer” research study but we wanted to highlight the other way companies can drive engagement and performance for their Controllers: using non-monetary rewards and incentives.
We compiled a research brief in which we profile three member organizations and the rewards and incentives tactics that they’ve found successful. An incentives/rewards program can drive three major outcomes: 1) engaging employees and driving retention, 2) encouraging specific behaviors, and 3) driving desired business.
Within the brief we identify 6 specific tactics used successfully by three of our members, but there are certainly more than 6!
The 6 tactics we identified are:
- Recognition
- Extra Time Off
- Flexible Work Schedules
- Sponsored Social Events
- Flexible Dress Codes
- Development Opportunities
When determining which non-monetary incentives/rewards to use, you should think about your organization’s climate and culture and identify which tactics that would work for you and which would not. If you’re interested in learning more about the specific tactics mentioned, how companies implemented their programs, and the impact of the programs check out the research brief (linked below) for more information!
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