COLORADO SPRINGS, Colo., Oct. 6 /PRNewswire/ -- Calculating customer service representative (CSR) attrition is challenging for all organizations. Today, the International Customer Management Institute (ICMI) announced that it has created a revolutionary predictive modeling calculator that forecasts CSR attrition in relation to wages.
Employers already recognize that better engaged employees are more willing to stay in their position, are more productive, and provide better service. This new compensation calculator now allows employers the ability to give appropriate compensation levels to employees, avoiding spikes in attrition.
"Agent attrition has been one of the most common and costly matters a contact center has to face on a consistent basis," said Macklin Martin, Director of Consulting of ICMI. "Losing an agent is costly to any organization. Today, many organizations have seen their attrition numbers go down due to the current economic climate. Job openings are not as plentiful, so people are staying in positions waiting for the opportunity to leave. The calculator we have created will help organizations see how compensation is directly correlated to employee retention."
ICMI recently worked with a large international organization that was experiencing high levels of attrition, especially in skill areas where the organization could not afford to lose representatives. ICMI engaged Dr. Jeffrey S. Kane, PhD, a consultant in industrial organizational psychology and a former professor, to assist with the creation of the calculator. Utilizing Kane's expertise in planned behavior ICMI crafted a survey specific to the company and created a predictive model that estimates how likely the CSR would leave versus the normal curve. ICMI was able to determine a precise correlation, as well as accurately predict the organization's level of attrition prior to obtaining current attrition data from the organization.
Kane said, "The calculator involves the value of the measurement in the marketplace. This is the first type of modeling that has ever been produced that shows the relationship of change in compensation in any valued aspect of the work situation and its effect on turnover intentions."
The International Customer Management Institute (ICMI), celebrating its 25th anniversary in 2010, is the leading global provider of comprehensive resources for customer management professionals - from frontline agents to executives - who wish to improve contact center operations, empower contact center employees, and enhance customer loyalty. ICMI's experienced and dedicated team of industry insiders, analysts, and consultants are committed to providing uncompromised objectivity and results-oriented vision through the organization's respected lineup of professional services including: Training and Certification, Consulting, Events, and Informational Resources. Founded in 1985, ICMI continues to serve as one of the most established and respected organizations in the call center industry. ICMI is a part of UBM Live which provides leading integrated media solutions and professional services across 20 different markets. Operating across the globe, its events, training, publications, award programs, and websites offer professionals in Interiors, Security, Venues, Customer Management, Safety & Health and Facilities the ultimate experience in learning, networking, and business development. For more information, visit www.icmi.com.
SOURCE International Customer Management Institute (ICMI)/UBM Live