How Fair Trade Outsourcing Increases Productivity and Effectiveness at Work
According to the Yerkes-Dodson theory on stress and productivity, employees who don’t find any challenge or stimulation at work become lethargic and unreliable. Thus, they perform badly and tend to make wrong decisions.
In comparison, employees who experience a healthy level of stress (eustress), such as the pressure to meet deadlines and expectations, tend to perform well. The body produces adrenaline which creates a surge of energy, improves concentration, and acts as an antidote to boredom, malaise, and stagnation. However, the opposite happens when people experience chronic stress.
When managers put too much pressure on agents every day, it causes chronic stress which produces abnormal levels of cortisol in the body. Cortisol can reduce cognitive functions, such as memory and concentration. Eventually, the agent experiences rust out or burnout, falls ill or becomes depressed, frequently misses work, and eventually resigns from the job.
But, it’s not a problem for a company that follows the fair trade outsourcing model.
Fair Trade Outsourcing creates a work environment that empowers agents and enables them to perform at their peak. They are highly engaged at work because they’re not overwhelmed by the number and complexity of their tasks.
One of FTO’s data enrichment teams has managed to produce double the number of outputs despite its small size. Similarly, a customer service team for an online retailer was able to reduce the number of calls from irate customers by 80% in 8 months.
Relationships are built on trust and leaders do everything they can to help agents reach their full potential. Agents’ basic needs, which include healthcare, living wages, and transportation, are addressed. Also, the health and safety of the agent’s family are taken into account.
As a result, the agent functions well in a fast-paced, innovative work environment. Goal setting is easy to track, and coaching becomes an effective tool in improving work performance. Most importantly, agents want to be there working at Fair Trade Outsourcing based on the monthly attrition rates.
In 2019, the overall attrition rate reached 3.9% – a significantly lower figure when you realize that the rest of the industry deals with more than 10% attrition in their respective companies. This figure is computed monthly because employees often don’t last 12 months in their jobs.
If your are one of those companies dealing with a horrendous monthly attrition rate, then turning your center into a Fair Trade BPO is your best option. Learn more about fair trade outsourcing and how you can apply it to your own organization by filling out the form on our Contact Us page or you can call us at 888-599-6516.