ICMI Introduces Revolutionary Predictive Modeling Calculator; Forecasts Customer Service Representative Attrition In Relation to Wages
Ground-Breaking Customizable Calculator Helps Avoid Spikes in Attrition
Colorado Springs, CO, October 6, 2010 - 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.”
To learn more about the ICMI Predictive Modeling Calculator, contact Robert Mills, National Sales Director of ICMI at [email protected] or (914) 217-7788.