What’s the True Cost of Call Center Attrition?

How do you calculate the cost of call center agent attrition?

 
 

 I recently downloaded The US Contact Center Decision-Makers’ Guide (executive summary available here). This is a massive 250-page report on the current state of call centers, covering everything from headsets to social media. This information, while largely segmented by market (finance industry) or contact center size (small, medium, and large) has tons of useful information for call center managers or others involved in the space.

In my preparation for an upcoming event on attrition (learn more here if you’re interested), I pulled out some key stats from their research. The finance industry has an average attrition rate of 29%. Small and medium contact centers*, those perhaps more representative of credit union call centers, have average attrition rates of 23% and 31% respectively.

On average it costs $1,976 to recruit a new agent. But the report doesn’t go into details on additional training costs for new agents, lost revenue if the agent made outbound calls, or additional salary and benefits expenditure if an agent with a different background is hired. Has your credit union calculated the cost of attrition?

*Small contact centers (as defined by this report) have between 10 – 50 seats; medium contact centers 51 – 200 seats.