Many companies embrace the value of "commitment to continuous improvement."
What we measure, improves. The only way to gauge how your people, processes, and technology are delivering on your strategic and business objectives is to benchmark key performance indicators (KPIs), track them rigorously, make operational adjustments, and measure the results.
The challenge: Nearly 40 percent of contact center manages struggle to identify and measure the KPIs that could improve their ability to serve their customers, agents and bottom line.
To provide some best-practices recommendations, the International Customer Management Institute (ICMI) conducted extensive research into the metrics employed by leading contact centers.
The resulting report identifies seven essential KPI categories ranging from the tactical to the strategic, including 20 distinct metrics that can give you the business intelligence you need to pinpoint opportunities for improvement.
Here are seven KPI categories to consider:
1) Workload Forecasting
Nearly two out of three ICMI contact centers surveyed measure their forecast accuracy, but not consistently across all channels. Accurate workload predictions across channels make it easier to deliver more efficient, consistent service experiences.
2) Agent Accessibility
ICMI research shows that leading contact centers handle scheduling from the bottom up, not top down, in order to gain buy-in from their agents. With the team working together to optimize schedules based on agent skills, location, and preferences, you’re more likely to increase adherence to these schedules, which facilitates workload handling.
3) Resource Accessibility
When customers don’t reach the right place at the right time, the quality of customer service drops off precipitously. Setting and measuring service level and response time objectives can help you identify where issues occur most frequently so that you can make process changes or shift resources so agents are available when customers want via the channels they choose.
4) Resolution Quality
While ICMI found that 82% of centers measure the quality of their contacts, just over half monitor first contact resolution (FCR). It's critical to track all service channels to get a holistic picture of the customer experience. For example, customers who prefer to use email may not care that you’re surpassing phone objectives if their own experience with your contact center isn’t at a similar high level.
5) Employee Satisfaction
The high cost of training new hires makes it more cost-efficient to retain agents who are already knowledgeable about your products and processes, which is why this metric is critical to your overall measurement strategy.
6) Customer Satisfaction
Establishing a baseline for benchmarking over time gives you a tangible measure of the impact that meeting your business objectives is having on your customer base. ICMI research shows that contact centers are not consistently measuring their customer experience across multiple channels, which can leave them vulnerable in today’s omnichannel environments.
7) Strategic Value
Even contact centers that are primarily service bureaus should measure the overall value of the center's contribution to overall company goals. These metrics surface the role it plays in revenue generation, marketing initiatives, product innovation, and other primary business objectives and can be used to calculate contact center ROI, performance against budget, revenue and cost per contact.
Ready to get started measuring for success? View the full report.
Curious about whether your contact center provides the reporting you need to get started? Have questions about how to integrate your CRM and WFM apps to get actionable metrics from your contact center? Five9 can help - Give us a call today:1-800-553-8159
E-Book:7 Contact Center Metrics Every Enterprise Should Be Measuring. ICMI report delivers specific, actionable instructions to help you monitor 20 unique metrics within seven key categories.
Video: Real-Time Reporting and KPIs. Five9 Reporting provides over 100 standard report templates including multichannel reports and robust customization and graphical capabilities.
Brief: Five9 Monitor and Measure for Actionable Insights. The Five9 Virtual Contact Center includes a suite of real-time and historical reporting tools that have been designed based on the best practices from hundreds of contact centers.
In a survey of Five9 customers, nearly half (48%) reported reduced costs due to improved agent monitoring and increased productivity derived from Five9 reporting and supervisory tools. Some companies report saving between $100,000 and $250,000 per year with Five9. —TechValidate
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