Increasing productivity improves cost efficiency. The more productive your people are, and the more repeatable the processes underpinning that productivity, the more costs stay under control while revenue rises. This is because ‘productivity’ is greater than the sum of its parts – those parts being broadly categorized into ‘people’ and ‘performance’.
Maintaining client relationships and preventing churn is a never-ending battle for most companies, B2B and B2C alike. Based on our users’ experience, we’ve identified that client churn is most commonly linked to low work output, lack of innovation, and employee engagement. Preventing client churn is not only a key profitability driver, but it can also contribute to expansion and acquisition through referrals and relevant case studies.
As businesses across the globe evaluate post-pandemic work models, many CEOs are considering novel strategies to motivate employees to return to the office. One notable approach that is gaining traction involves offering tangible rewards for consistent office attendance.
Three years ago, the world was hit by a curveball called Covid-19. Companies had to scramble without a game plan, and leaders joined forces to protect their teams. Work From Home (WFH) became the knight in shining armor, even for tech giants who were WFH skeptics. Many shouted, “Farewell, traditional offices!” As the pandemic eased, remote work took over. Folks worked from different zip codes – cities, countries, even their hometowns.
Tata Consultancy Services (TCS), one of the world’s largest IT services companies, recently changed its policies. Starting on October 1, TCS mandated that its employees work from the office five days a week. As a result of this new policy, employees who fail to comply may face disciplinary action from the company. Employees and employers have expressed a variety of perspectives and considerations regarding this decision.
Workforce analytics is the process of gathering employee time and activity data and reviewing it to find ways of increasing productivity and improving engagement. That means it’s crucial for analyzing performance, spotting trends, and making data-driven improvements. It’s also essential for effective human capital management (HCM).
The COVID-19 pandemic accelerated a shift to hybrid and remote work that many business leaders saw as inevitable. There’s a lot of data about the uptake and effectiveness of ‘going remote’, and the message is overwhelmingly positive. But we’re focused on reducing costs. So let’s zero in on the costs and benefits of remote work.
Retaining good employees should be a key effort for all organizations. Replacing employees is costly. Searching for new talent requires significant internal time, not to mention the cost of placing job ads, paying job board fees and engaging recruiters. Then there are the costs associated with onboarding and training. Organizations battling employee churn also suffer from a loss of institutional knowledge, lower team morale and reduced productivity.
Starting a virtual call center requires both upfront costs that you pay once and recurring fees you pay each month. First, let’s detail each of the initial and ongoing costs. Initial setup costs run between $1,850 and $12,750. Increase these estimates if you’re purchasing hardware for more than one agent. Ongoing costs run between $1,200 and $7,600 per month. Increase these estimates for larger teams since the price of many of these software fees is per user.
The lasting impact of the COVID-19 pandemic has reshaped how businesses and their leaders think about the workplace. As we look to the horizon, the year 2026 has become a focal point for many executives, marking a time when they anticipate a definitive stance on office-based working. Based on a recent report from The Times, the forecasted workplace model seems to lean towards a full return to the office.
