The cost of hiring and onboarding new employees in customer contact centres with a high agent turnover can be significant. Inconsistencies in service and lack of continuity can result in customer frustration, negative experiences, and potential loss of business.  

The 2024 Australian Contact Centre Industry Best Practice Report, produced by SMAART Recruitment identified that the average agent attrition rate for contact centres in Australia was 27% (a decrease of 5% from 2023). Contact centre attrition is significantly higher in larger contact centres: 

62% of agents who change role leave compared to 38% who move to internal roles. There has been a small shift of 3% towards more internal roles. 

There are a range of reasons why agents leave a contact centre with the leading causes being: 

While costs associated with turnover, such as recruitment and training, are well-understood, there are hidden costs that can be equally detrimental to a business's success, for example: 

• Reduced productivity: New agents require time to get up to speed, impacting overall team speed and efficiency. 

• Damaged customer satisfaction: A variable level of service from new agents can impact customer loyalty. 

• Loss of institutional knowledge: Experienced agents take valuable knowledge with them when they leave. 

• Negative impact on morale: High turnover can create a stressful environment for remaining employees. 

• Brand damage: A reputation for high turnover can deter potential employees from applying to work at that company. 

Reduce agent turnover with a KnowledgeIQ Knowledge Management System  

A Knowledge Management System [KMS] like KnowledgeIQ within a contact centre, can reduce the agent attrition rate and the organisational impact of staff turnover by: 

1. Ensuring agents have access to the right information 

• Providing agents with easy access to a centralised knowledge system allows them to quickly find answers to customer questions, reducing frustration and increasing job satisfaction. 

• Ensuring that all agents have access to the same, up-to-date information helps to maintain consistency in customer service and reduces confusion. KnowledgeIQ customers have experienced a 30% reduction in call transfers and average handling time. 

2. Improving training and onboarding 

• A KMS can be used to create structured training materials, such as quizzes, ensuring that new agents are onboarded successfully for their roles and have a clear understanding of the company's products and services. KnowledgeIQ customers have experienced a 50% reduction in staff onboarding and training time. 

• By providing access to the KMS, agents can continue to learn and develop their skills throughout their employment, reducing the feeling of stagnation. 

3. Enhancing collaboration and knowledge sharing 

• KMS tools can facilitate collaboration between agents, allowing them to share best practices, tips, and problem-solving techniques. By encouraging agents to contribute to the KMS content through feedback, businesses can capture valuable insights and expertise, benefiting both current and future employees. 

4. Increasing Customer Satisfaction 

• By providing agents with the systems and tools they need to quickly find answers to customer questions, KM can help improve customer satisfaction and reduce customer churn. 

• A well-maintained KMS will help to ensure that customers receive consistent, high-quality service, regardless of the agent they speak to. 

Retaining your top agents is crucial for contact centre success. By deploying a knowledge management system that integrates training and process optimisation, organisations can reduce agent turnover. To discover more about how KnowledgeIQ can help reduce attrition in your contact centre…