In the latest episode of the "Future of Contact Centers" podcast, hosts Trevor Clark and Nate Nammour explore the innovative approach of GigCX to revolutionizing contact center operations. This episode focuses on how the application of GigCX's model can significantly reduce costs while enhancing efficiency and agent satisfaction.
Flexibility and Agent Satisfaction
GigCX emphasizes flexibility, which allows for perfect staffing at all times, reducing overhead and increasing response capabilities. The well-being and efficiency of agents are central to their model, which promises a more satisfied and stable workforce.
Dramatic Cost Savings
The highlight of the episode was a detailed breakdown of how GigCX achieves a 35% cost reduction compared to traditional contact center models. This saving is primarily attributed to their unique approach to handling shrinkage—the time for which agents are paid but are not productive due to breaks, training sessions, and other downtime.
The Four Pillars of Savings:
- Reduced Shrinkage: GigCX claims to completely eliminate costs associated with shrinkage, highlighting that agents are paid only for productive hours.
- Lower Attrition Rates: By improving work conditions and operational efficiencies, GigCX significantly lowers attrition rates, which traditionally can reach over 100% annually in some centers.
- Optimized Staffing: The use of precise 30-minute staffing intervals allows for optimal agent allocation, ensuring that staffing levels directly match customer demand without over or under staffing.
- Decreased Training Costs: Through more efficient training methods and better retention of well-trained staff, training costs are drastically reduced.
Real Numbers, Real Savings
Trevor and Nate walked through a model demonstrating potential savings in a 200-agent scenario. This included a comprehensive look at pay structures, productive vs. payroll hours, and the overall financial impact of traditional vs. GigCX models. The GigCX model not only reduces the hourly cost of operation but also alleviates the hidden expenses associated with high attrition and inefficiency.
The Bigger Picture
The discussion also touched upon how GigCX leverages technology to maintain cost-effectiveness and high service levels within the U.S., challenging the need for outsourcing abroad. Their model suggests that with the right technological tools and operational strategies, contact centers can remain competitive and cost-efficient without sacrificing quality or employee satisfaction.
This episode provides a clear view of how GigCX's model can transform the economic landscape of contact centers. If you'd like to calculate the ROI of GigCX for your contact center, try our ROI Calculator.