Test Cookie policy: All websites across the EU are now required to ask your permission to place cookies on your machine, and you can refuse to give it.

We have limited Spanish content available. View Spanish content.

Jakarta Post

Putting a Lid on Customer Call Volume

Putting a Lid on Customer Call Volume

Companies often overestimate the speed with which they can reduce call volumes

  • noviembre 05, 2015
  • min read

Article

Putting a Lid on Customer Call Volume

This article originally appeared in The Jakarta Post.

Customer service at retail banks often resembles an arcade game called Whac-A-Mole, in which players use a mallet to pound a plastic mole popping up from different holes. Banks launch initiatives to eliminate the 50 to 70 percent of call volumes that typically are bad or avoidable - those generated by errors or that should go to lower-cost or higher-service channels - only to find that the total call demand stubbornly remains high. Take out call demands here and watch new call demands pop up there.

Unlike the arcade game, this dynamic at banks is not fun. It creates a doom loop where an imbalance between workload and capacity triggers futile management interventions, degrades the customer experience and burns out frontline employees.

Swinging more mallets - by adding initiatives and project teams - can be expensive and usually doesn't work, because by the time the mallet comes down, the target has changed.

Leading banks have taken a more effective approach that has produced sustainable reductions of 20 percent to 40 percent of total demand within two years, worth US$20 million per year on a $100 million annual cost base. Effective demand management can be achieved through four actions.

Read the full article in The Jakarta Post.

Michael Woodbury is a partner based in Bain & Company's Melbourne office, and Edy Widjaja is a principal based in the firm's Jakarta office. Both are members of Bain's Financial Services Practice.

Tags

Want to continue the conversation

We help global leaders with their organization's most critical issues and opportunities. Together, we create enduring change and results