How To Increase Revenue By Improving Agent Satisfaction
- 17 Jun 2022
How to Increase Revenue by Improving Agent Satisfaction.
Businesses are so often focused on satisfying the customer that they chip away agent satisfaction in the process. It’s no secret that customer satisfaction and employee satisfaction are very much connected, but what does this actually mean?
Glassdoor’s 2020 Economic Research report revealed that companies with highly satisfied employees are more likely to have high customer satisfaction scores, a stat that holds especially true in industries with higher levels of customer contact.
Taking the necessary steps to improve your contact center agents’ satisfaction levels within your company will increase their loyalty to the team, leading to more dedicated and successful agents and customers.
What is agent satisfaction?
Agent satisfaction is the measure of how satisfied or dissatisfied employees in an organization are. Businesses that actively measure employee job satisfaction are able to track employee motivation, productivity, and loyalty to their organization.
So why is agent satisfaction so important to understand, and what does this mean for modern B2C teams?
Importance of agent satisfaction in modern business
It’s often said that the customer is king, and rightfully so—prioritizing the needs of your customers is a surefire strategy to increase revenue. Which is exactly why agent satisfaction is important.
Agents that are not satisfied with their employer contribute to high agent absenteeism and turnover, and are unlikely to provide the same quality support to customers that a satisfied agent would.
Businesses that emphasize agent satisfaction by prioritizing the needs of their employees can drive positive improvements in customer satisfaction, while reducing agent turnover and agent absenteeism.
Taking into consideration the correlation between customer satisfaction and contact center agent job satisfaction, you can begin to see why agent satisfaction is important and how it can grow revenue for your business.
How to measure agent satisfaction
There are several ways to measure your team’s happiness in their work, but the easiest method is to use the Employee Satisfaction Index (ESI). This index is determined by assigning a numerical value (1-10) to three simple survey questions:
- How satisfied are you with your current workplace?
- How well does your current workplace meet your expectations?
- How close is your current workplace to the ideal?
Once you have the answers to these questions, you can calculate your ESI with the following formula:
- ESI= [((question mean value ÷ 3) – 1) ÷9]*100
The higher the number, the more satisfied your agents are in the workplace.
Surveying employees allows you to understand how your agents really feel about their job, and gives you the opportunity to meet them where they are.
Agent satisfaction isn’t a static metric, and is sure to change over time—it’s important that your organization keeps a consistent pulse on employee engagement and takes active measures to improve upon this engagement, as this will inevitably grow revenue.
Impact of agent satisfaction on revenue and profitability
Let’s take a look at a few statistics showing the impact of agent satisfaction on revenue, and how highly-satisfied agents can contribute to your business’ profitability:
- A happy agent is a dedicated agent—business units made up of highly engaged employees are more present and provide a better experience to the customer. 94% of consumers who have a good support experience are “very likely” to repurchase from a company.
- As we mentioned earlier, happy agents make for happy customers, and increasing customer retention rates by 5% canincrease profitability by up to 95%.
- Prioritizing your contact center employee’s job satisfaction will reduce agent absenteeism and agent turnover. In 2020, the cost of replacing an agent (screening, recruiting, interviewing, and training) exceeded $12,000.
- In 2019, Harvard Business Review calculated that a one-star improvement in Glassdoor employer ratings yielded anywhere between a 7-18% increase in long-term market valuation.
How to improve agent satisfaction
With the understanding of why agent satisfaction is important and how happier agents result in increased revenue, we next need to look at how your business can measure and improve upon your agent’s satisfaction.
Here we’ve outlined a few of the methods you can use to measure and improve your contact center team’s happiness:
A place to hang your hat (Agent retention)
- Making an agent feel welcome isn’t something that should only be reserved for their first day on the job. Creating a continuous program to build a team that feels like a family will build agent loyalty and increase agent retention.
How can we help you? (Agent surveys)
- Surveys aren’t only meant for customers! Surveying your agents on an annual or semi-annual basis can build an open and recurring feedback loop with management and identify friction points before they become a problem.
Walk before you run (Comprehensive training)
- Another key driver in keeping contact center agents satisfied is the number of training and coaching hours that they receive. Equip your agents with all of the necessary tools to excel, and you’ll see a marked improvement in morale.
Reap the rewards of great service (Reward your agents for excellent performance)
- Communicating with customers isn’t always easy—be sure to reward your agents that go above and beyond in customer communications with prizes, an extra vacation day, promotions, or some other incentive for a job well done.
Make yourself at home (Let your agents work from home)
- Many working professionals have grown accustomed to working from home since COVID-19 reshaped the way businesses operated back in 2020, and contact center agents are no exception. A Pipkins research report showed that agents who work from home have a retention rate that is 55% higher than those working from an office.
Improve agent satisfaction and increase revenue with Contacto
Contacto is cloud contact center software for B2C teams built with agent satisfaction in mind. With Contacto, agent teams are supported by helpful automations, a unified desktop, and an omnichannel experience to exceed consumer needs and create happy customers and agents alike.
If you’re looking to keep up with the demands of the new era of support operations, we’re here to help.
Book a demo with our sales team, and we’ll help you find the right solution for your team’s needs.