Call Center Design for Lion Financial Services Case Study
Training programs
Andy has proposed the plan in which he has stressed over the significance of providing training of the agents. Training of the agents would lead towardsgreatercustomer satisfaction as agents would have an in-depth knowledge and understanding of the software and the ways of dealing with customers after going through a proper training session. The training of the agents follows the monitoring of the calls of agents. The feedback from the monitoring of the agents would be provided to the agents as a solid foundation for improvement efforts. The monitoring scores for the agents would help the management in taking compensation as well as promotion oriented decisions.
The performance of the agents would be improved via training sessions so the performance would be evaluated every month in order to assess the capacity level, also the company could also release the over-needed employees. The training would allow the employees to reduce the average handling time through quickly moving through the queue to the next waiting customer, hence not compromising on the quality of customer service.(Carucci, 2018).
Positive and negative aspects of the Andy’s proposal
The features of the proposal being presented by Andy has some positive and negative aspects, which are separatelydiscussed below:
Positive aspects
The training and monitoring of the agents would lead towards an increased productivity as well as an improved performance of call center as a whole. Additionally, the automation of the service would result in reduced waiting time for the customers. The reduction in the number of location to only one, would facilitate the reduction of infrastructure and operating cost; whereas the reduction of agent pool from 8 agents to only 3 agents would result in significant improvement in customer service and cost reduction.
Negative aspects
In contradiction to the positive aspects; the reduction of agents would result in negative perception about the company and its policy, whereas the chosen agents would get fearful about retaining their position in the company. Additionally the closure of the two location would signal the customersthat the company might lose its position in the market due to which they might hesitate in availing the services provided by the company. Furthermore, Andy has proposed massive changes, which would take considerableamount of time to be implemented in an effective manner or else it would lead to some negative implications.
Recommendation
After taking into consideration the qualitative and quantitative analysis of the current situation within the company;the company is recommended to minimize the number of pools within a parameters that would not negatively impact the delivery of the service and operational efficiencies. One of the most significant priority of the company should be the productive and efficient operations of the call center as it is critical to the bottom line. Additionally, the company is advised to eliminate the difference between the broker and customer non-Quickline pool as they tend to perform the similar task at the similar rate.
Along with this, the training of customer agents would result in greater and improved productivity levels, which ultimately increase the customer satisfaction and profit returns for the company. However, it would incur an additional incremental cost on the training of customer agents to the level of their broker counterparts, but the company would significantly save the huge amount of money generated by streamlining the system and increasing the utilization in the pool, which tends to outweigh the cost.
Furthermore, the company should reduce the wage rate of the Quickline agents as well as itsQuickline agents, but at the same time the company should put major emphasis on maintaining the similar quality for the non-Quickline line agents since their in-depth knowledge, understanding, experience as well as financial expertise is quite necessary for the quality customer service.Moreover, the effective implementation of the process development would lead towards an improved efficiency. After effectively implementing the proposed tactics; the company would be able to increase the productivity of its employees, customer satisfaction and overall financial as well as non-financial performance of the call center.
Conclusion
Lion Financial Service has been engaged in providing investment management services to around 350000 customers, who consist of individuals, institutions as well as corporations. The majority of the company’s transaction are carried out through its call center, due to which the productive as well as efficient operations ofLion Financial Service’s call center is one of the key priority for the company as it significantly contributes to the profit returns.
With regards to the proposal plan by Andy; the highly focused areas include:reduction of the complexity in the routing rules, reduction in the wage rate of the agent, provision of training programs to agent and monitoring score following the decision of compensation and promotion of the agents. The massive changes are recommended to save the cost of operations and infrastructure and make investment in the key improvement areas with core consideration over improving the productivity of the agents as well as the performance of the call center as a whole.
After analyzing and assessing the current situation of the company and the proposed changes on the basis of the cost and benefits; the company is advised to take a closer look over the key improvement areas and make significant changes accordingly. Furthermore, the company needs to critically analyze the long term consequences of the recommended strategies to avoid any negative situation in the near future...............................
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