How Do I Manage Shrinkage In BPO?

What is shrinkage and attrition formula?

Annual Attrition rate = (Total number of agent exits/average number of agents during the period) * (12/number of months in the period) Shrinkage rates are used to help determine the number of excess staff needed to ensure that the actual number of agents required to meet service level objectives are actually in place..

What is AHT formula?

Calculating AHT (Total talk time + total hold time + after call work time) / total number of calls. AHT can be assessed per agent, per department, or across the organization.

What is KPI in BPO?

Introduction to Key Performance Indicators (KPIs) Key performance indicators is the term for a type of performance metric used to evaluate how a company is progressing towards their business goals. It is one of the efforts businesses use to measure productivity using trackable numbers.

What is the shrinkage in BPO?

Call center shrinkage is the number of agents actively taking calls divided by the number of agents who are not available for any reason. Those reasons can include: External Shrinkage Factors: Holidays & vacations.

How do you calculate shrinkage in a call center?

Shrinkage is another way of expressing what used to be called Utilisation. Utilisation is simply the number of hours that employees are available to work on their primary task (measured hours), divided by the total paid hours. So a Shrinkage Figure of 30% equates to a Utilisation figure of 70%.

What is shrinkage factor?

The amount to which a reservoir barrel of oil shrinks when gases are removed at surface. Reciprocal of the formation volume factor.

How we can control shrinkage in our store?

Understanding how shrinkage happens in retail stores is the first step in reducing and preventing it.Shoplifting. … Employee Theft. … Administrative Errors. … Fraud. … Operational Loss. … Implement Checks and Balances. … Install Obvious Surveillance and Anti-Theft Signage. … Use Anti-Shoplifting Devices: Security Tags.More items…•

What is the formula of attrition in BPO?

In order to calculate the attrition rate, you just take the number of attritions (or employees who left the company), divided by the average number of employees, and then multiplied by 10. For example, if you had 47 agents leave in a year, with an average of 340 employees, your attrition rate would be 13.82%.

How can we reduce shrinkage in BPO?

The strategy must focus on implementing some of the commonly used best practices for reducing call center shrinkage.Measure Shrinkage Rate Continuously. … Track and Improve Schedule Adherence. … Keep in Mind Unproductive Time. … Monitor and Address Absenteeism. … Keep Agents Competitive. … Make Shrinkage Management an Ongoing Process.

How do you calculate shrinkage?

Divide the amount of shrinkage by the original size to find the shrinkage rate. In the example, divide 2 by 8 to get 0.25. Multiply the shrinkage rate by 100 to find the shrinkage as a percentage. In the example, multiply 0.25 by 100 to get 25 percent.