This year more than 20 states will be required by law to raise their minimum wage. From Florida to Alaska, Massachusetts to Arizona, call centers that hire entry-level agents at a minimum wage will have to pay anywhere from ten cents to two dollars more per hour, every day.
While agents will certainly be delighted with the raise, call center managers will need to budget for these payroll hikes.
One way to do so is with a switch to workforce management software.
Several Monet WFM clients have been able to reduce the number of agents required per shift, without sacrificing customer service. The achievement of more accurate forecasting and scheduling allowed one insurance call center to go from 119 agents to 87 agents. A financial services call center reduced agent headcount fro 550 to 510, while also reducing costly overtime by 25%. That equates to an annual savings of more than $350,000.
Yes, workforce management does require an additional investment. But with WFM Live, Workforce Management in the Cloud, there is no need to buy servers or other IT equipment, or IT resources required to set up and operate the system. There is also no large upfront cost for the software – call centers pay an affordable per user license.
And in addition to cost savings, WFM delivers more accurate skill-based scheduling, the ability to track adherence in real time, and improve agent productivity.
So if minimum wage is not as minimum as it used to be in your state, workforce management provides a way to reduce escalating labor costs – and improve service at the same time.
Find out more about Monet WFM Live