Tag: Benefit

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If your business is looking to improve the caller experience then call recording software should be your first port of call; without a recording system in place how can you be entirely sure that your staff are managing their expectations?

For businesses who keep customers at the heart of their business, call recording is a necessity not a luxury. BT, Virgin Media, HMRC and most of the health care sector are all beginning to increase their call handling abilities, recognizing this need during economic downturn to care for, and keep the customer.

Call centers have often bared the brunt of bad press and angry customers but by implementing the right solutions we can turn this around. In the age of real time messaging and social media, no company can afford to frustrate their customers.

What is Call recording?

Call recording solutions come in many different forms to suit all the different call center technologies on the market. You can expect to find hardware, software, hosted and VoIP recording to ensure that all businesses are catered for regardless of their current communications strategies.

You can select from inbound or outbound recording or both depending on the nature of your business. As soon as a call is made to or from your organization the hardware or software is activated, you are then able to listen to your recordings via a simple web interface.

Call Center Standards

Did you know that there are many standards call centers are expected to abide by – although not compulsory? Some of these are listed below.

• SLA for speed of answer is 80% of calls to be answered within 20 seconds, 90% of calls to be answered in 10 seconds
• Average handle time of the call is typically between 4.5 and 6 minutes
• The typical call center SLA for answered calls is 95% or more of all offered calls
• Some agents are allowed 10 seconds wrap time before becoming available again as a breathing space between calls

Call recording can make sure that you are maintaining a satisfactory level of customer responsiveness and satisfaction in line with the SLAs above.

Benefits of Call Recording

There are many benefits of call recording, each to cater to any type of business. You may realise your organization could benefit greatly from one, or all, dependent upon your needs and the nature of your business.

Train and monitor staff. Focussing on staff performance will increase customer satisfaction and allow your agents to improve and excel in their role. By listening to calls you are able to see where staff are falling short or misguiding customers, allowing you to quickly nip this in the bud.

Improve customer satisfaction. By making sure your staff are well trained and attentive to customers you are able to benefit from improved levels of customer service and satisfaction, which is the gateway to increasing revenue and profit.

Implement quality processes and stricter controls. Implement strategies and procedures that you are able to assess, such as effective complaints handling.

Identify areas for improvement. Can offer invaluable reporting and statistics to enable you to identify areas where processes can be slicker or where more technology may need to be implemented. For example, are your customers ringing into the wrong department and having to be transferred elsewhere? This would signify a problem with your IVR or a need for IVR services.

Bring a bit of fun to your business. Can bring employees together when seen in a positive light – create fun tactics for feedback meetings instead of having agents fear their reviews. By implementing fun weekly programs, coffee mornings or making scoring games during playback can raise morale and increase staff confidence. Don't forget to praise agents when they have executed a great call – a recording system isn't just an excuse for criticism.

Helps protect the reputation of your business. Call recordings are much more reliable than written notes; they are an irrefutable form of evidence. Should you find yourself amidst customer or legal disputes you can quickly put these to rest.

Hosted Call Recording

A hosted call recording solution works in the same way as any …

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A recent mortality study conducted by the non-profit Society of Actuaries indicates that life expectancies for both women and men have increased by roughly two years since 2000. To be precise, the study showed that the average 65-year-old woman in the U.S. is expected to live 88.8 years, up from 86.4 in 2000. Life expectancy for the average U.S. man age 65 is now 86.6 years, up from 84.6 in 2000.

While this may be good news for retirees and their families, it’s not necessarily good news for their retiree medical benefits. Also known as “post-retirement health insurance,” these benefits are typically employer-sponsored benefit plans for retired workers 55 and older.

Many baby boomers covered by retiree medical plans are relying on future employer-paid medical benefits, but are likely to be disappointed to learn that these benefit plans can be changed or terminated. ERISA-governed benefits plans typically contain a “reservation of rights” provision allowing the plan sponsor to change or terminate all or parts of the plan.

Escalating health care costs and increased risk concerns have forced many employers to reduce or eliminate retiree medical benefits. In a recent survey titled “2015 Survey on Retiree Health Care Strategies,” Towers Watson uncovered additional factors influencing employers to reconsider their approach to retiree medical benefits, including:

— Increased financial reporting requirements for benefit-related balance sheet liabilities

— Ongoing administrative expenses

— ERISA obligations, such as reporting, disclosure, and fiduciary responsibilities

— Lack of an efficient funding vehicle

Traditionally, employers have been able to control expenses and risk by such cost-cutting measures as, for example, shifting costs to retirees, limiting or ending benefits for new hires, capping the company subsidy, and changing retiree eligibility requirements. Employers are finding, however, that these conventional actions are still falling short of the amount of cost and risk control needed.

Passage of the Patient Protection and Affordable Care Act has created new ways for employers to meet the retiree medical needs, while still controlling cost and minimizing risk. For Medicare-eligible retirees, for example, nearly 80% of employers are either using or considering using the services of a private Medicare exchange to aid retirees with their individual coverage.

Additionally, new insurance products now allow employers to “de-risk” heir balance sheet by transferring the retiree medical benefit liability to an insurance company through the purchase of a group annuity. The annuity then allows retirees to receive tax-free funding for life, which they then can use for their medical benefits.

For pre-Medicare retirees, many employers have determined that the individual plan market and public health insurance exchanges will provide a functional alternative to employer-sponsored coverage. Towers Watson reports the following as part of their survey results:

— Eight percent of retiree medical plan sponsors are confident in the public exchanges as a viable alternative for 2015, with the confidence level rising to 35% by 2017.

— Fifty-three percent of employers surveyed said they will reassess their current approach to providing pre-Medicare health benefits by 2017 to take into account public insurance exchanges and federal subsidies.

— Seventeen percent of employers said they would consider ending coverage for pre-Medicare retirees altogether. When doing so, they would provide access via a private exchange which would then act as a coordinator to the public exchanges.

With public and private exchanges simplifying access to, and easing the process of buying individual plans, many employers will evaluate alternative retiree medical benefit strategies that will controls costs while still meeting retiree medical needs.

April, 2015

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Source by Mark Johnson, Ph.D., J.D.

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