Frost & Sullivan whitepaper discusses the link between culture, employee engagement, and top-line business impacts in the business process outsourcing industry
Understanding the importance of an organization's culture and the impact it has on customers and the business itself is critical in today's environment. New research from Frost & Sullivan demonstrates the difference between companies that utilize business process outsourcing solely for cost-cutting measures and those that emphasize the importance of cultural compatibility between themselves and their BPO partner(s).
Frost & Sullivan's recently published whitepaper, entitled The Culture Value Chain: Business Impacts Defined, explores the intersection of culture, the Customer Experience, and the contact center, as well as the correlation between employee engagement and revenue growth for organizations with great corporate cultures.
In today's race for profitability and sustainability, engaging great talent is more essential than ever. Choosing the right BPO partner is a fundamental component to avoid "cultural misalignment," a constant threat to successful BPO relationships.
"A shared vision and cultural fit between business process outsourcing vendor and client is vital to the long-term success of any BPO arrangement," said Frost & Sullivan Customer Contact Global Program Director Stephen Loynd. "Poorly defined requirements and a lack of understanding between business cultures can produce service delivery gaps that can be irreparable."
Links between employee engagement and business success for organizations and their internal contact centers seem to be reinforced year after year. The top 25 percent most highly engaged organizations continue to have significantly higher productivity, profitability, customer ratings, lower turnover and absenteeism, and fewer safety incidents than those in the bottom 25 percent (Source: Gallup, State of the American Workplace, 2013).
This whitepaper addresses how the strong links between employee engagement and top-line growth have already been established for culture-focused organizations and their internal contact centers. Frost & Sullivan notes that TELUS International, a global BPO provider, has drawn those same links in the BPO realm, through the development of their "Culture Value Chain," a framework that embodies how the team approaches its business. By fusing a culture that values and cares for employees with an emphasis on business process intelligence driven by Six Sigma principals, TELUS International asserts that it has successfully reduced voluntary agent attrition.
"A great culture cannot be easily developed, nor can it be easily replicated," said TELUS International President Jeffrey Puritt. "That's why the right culture - focused on what matters most to the organization and its people - can be a significant differentiator among companies providing similar products or services."