Career Management

Company Industry – Financial Services

The Situation:

  • Large call center operation was facing tough competition for labor in a tight market with 3% unemployment 
  • Turnover was approximately 26% annually with the cost of turnover $24,000 per employee due to training & licensing requirements
  • Pay was escalating at unprecedented rates due to constant pressure to provide special pay increases on a case-by-case basis to retain talent 

What We Did:

  • Created a new career structure and recruiting strategy which funneled new hires into lower cost retail delivery channels for initial training
  • Specified career opportunities and outlined experiences and competencies required for success
    • Career paths offered many different opportunities based on employee interest, experience, and competencies developed employees could now see a career, not just a job
  • Codified a competency framework to support development of critical skills and guide promotional requirements an important foundation for the career structure
  • Integrated competencies into performance management process, which included a developmental component
  • Changed base salary structure to more appropriately reflect the marketplace needs

The Outcome:

  • Turnover dropped from 26% to 15% after the first six months, and to 11% after 10 months
  • Turnover reduction resulted in over $3 million in savings annually