Attrition Rates in Financial Services are on the Rise

High levels of employee churn have been standard in the financial services industry for years. Recently, those already high levels are on the rise. Why are employees leaving their roles at increasing rates? Here is an overview of what attrition looks like in the financial services industry and what companies can do to curb it.

Why Employee Attrition Spikes in January

Employee attrition rates tend to soar in January. Why are workers more likely to leave at the beginning of the year? We identify some of the common reasons that cause employees to resign and look at some measures to help reduce rates of attrition.

Predictive Analytics: Using Data to Save Money and Employees

It’s no secret that high rates of employee turnover result in financial losses for a company. Where does the money go? Every step of the employment process has hidden expenses, even steps like listing a job or hiring someone. However, in call centers, one cost stands out from the rest: training and onboarding new employees.

Two Common Call Center Practices That Hurt Business

Managers and executives know that call centers can be costly parts of business. Yet, many common call center practices thought to help reduce costs cause problems themselves. If your company wants to reduce costs funneling into contact centers, consider these two techniques and their pros and cons.

Data Modeling and Data Analytics: What’s the Difference?

Often used interchangeably, data modeling and data analytics evaluate separate components of data. Data modeling requires setting parameters on data to better understand it.On the other hand, data analysis considers the data itself, allowing you to make informed business decisions. Here are some distinguishing qualities between modeling and analytics.

Call Center Churn: Root Causes of Agent Attrition

Here are several common reasons that agents leave after the onboarding process, and how AnswerOn’s solution can help call centers know which agents are at-risk and, most importantly, the proactive action that can prevent them from leaving.

Data Mining Churn Solutions: From Raw Data to Predictable Data

With today’s technological capabilities, we have access to numerous sources of qualitative and quantitative data. However, an exhaustive amount of raw data fails to reveal patterns that describe churn rates. Moving from raw data to predictable data requires a data mining process.

The Lifetime of Research

Michael Mozer, Scientific Advisor at AnswerOn and Professor at the University of Colorado discusses AnswerOn’s early days of churn prediction.