Moneyball transformed the baseball world in 2002 when Billy Beane used predictive performance analytics to create a contender with his Oakland A's. In what was arguably one of the first practical applications of predictive analytics, he correlated key business outcomes (in his case, wins and losses) against individual player performance statistics to create his contending team.
Many of the same concepts can be applied to building a winning team of high-performing contact center agents. This presentation describes HireIQ's predictive performance analytics approach to helping companies attract, select and retain the right kind of employees.
4. Moneyball – The Baseball Analogy
× Pioneered by Oakland A’s in 2002
× Born of necessity – how to be competitive
with minimal payroll
× Based on multiple, observed, measured
performance factors as leading indicators
of success – wins and losses
× Seismic shift from “gut-feel” player
selection to analytics-driven decisioning
× Defied conventional wisdom of how to
build a winning team
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5. Moneyball – A Contact Center View
× Outsourcers are early adopters – driven
largely by high attrition and client
performance demands
× Employs correlation of pre-hire attributes
with post-hire, observed, measured
performance achievement
× Analytics-driven approach to predict agent
success
× Defies conventional wisdom about how to
attract, select and retain a high-performing
contact center team
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8. Cost of Turnover
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Agents 2,000
Annual Turnover 25%
New Hires/Year 500
Average New Hire Cost (1) $6,500
Cost of Replacement Hiring $3,250,000
(1) Industry cost to recruit, screen, hire and onboard.
Does not include training.
Consider collateral effects of attrition:
• Lowered morale
• Reduced customer satisfaction/retention
• Reduced sales conversion
• Increased AHT
• Lowered FCR
9. No. Reason
1 Just the wrong type of person for the job
2 Excessive pressure or stress
3 Lack of promotion or development opportunity
4 Repetitive work
5 Competition from other contact centers
6 Low pay
7 High numbers of temporary or seasonal staff
8 Abusive or unpleasant calls
9 Poor working environment and conditions
Reasons for Agent Attrition
Source: ContactBabel 2014 US Contact Center
Decision Makers’ Guide
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10. Inductive Reasoning
Deductive Reasoning
Written Comprehension
Written Expression
Problem Sensitivity
Near Vision
Speech Recognition
Speech Clarity
Oral Expression
Oral Comprehension
Source: O*Net OnLine
Top 10 CSR KSAs
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11. What: A systematic, performance analytics-based strategy for selecting new hires
based on their demonstrated performance and engagement potential.
How: Compare pre-hire assessment data against observed post-hire tenure,
engagement and performance measures to create predictive performance models to aid
in the selection of exceptional performers.
Moneyball for Exceptional Performance
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12. Moneyball: A How-to Guide
Pre-hire Interviews and Assessments
• Identify key attributes
• Collect actionable data
Performance Feedback
• Collect observed performance
• Report quality-of-hire
Predictive Analytics
• Model excellent performers
• Recommend candidates for hire
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19. Case Study: Improved Performance
FCR
67%43%
Before
Moneyball
56%
Improvement
33%
CSAT
85% 28%62%
Before
Moneyball
37%
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20. Action Imperatives
× Identify the pre-hire tools that are forward-
looking indicators of tenure and performance
– Moneyball
× Measure post-hire performance and
continuously validate tool use
× Look to the long-term
× Emphasize talent retention over talent
acquisition
× Create shared goals
× Identify key employee engagement drivers
and include in pre-hire assessment toolkit
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21. HireIQ
Solutions,
Inc.
Headquarters
1101C Cambridge Square
Alpharetta, GA 30009 USA
Tel: +1.678.279.2830
@hireiqinc
HireIQ
Solutions
www.hireiqinc.com
info@hireiqinc.com