The Call Center Industry's Next Big Opportunity
The call center industry is a booming business. With the rise in popularity of both on-demand services and customer service, there has been an increase in demand for call centers that are equipped to handle these needs. We will discuss how this industry's next big opportunity lies with artificial intelligence but also mentions how some people may not be ready to adopt AI just yet. These changes will have an impact on more than just the companies providing IT support calls. It will also affect organizations that depend on their online presence for revenue generation through web traffic, such as e-commerce sites businesses.
The Call Center Industry's Next Big Opportunity Businesses depend on the telephone network to provide them with essential services that help maintain their everyday functions. On one hand, there are customer service support organizations that directly interface with consumers either for billing inquiries or technical support issues. On the other hand, there are automatic call distributors (ACD) which route calls to agents depending on their skills, availability, or location.
What is a Call Center and What Do They Do
The term call center refers to a facility that consolidates and manages phone calls, faxes, e-mails, and other forms of customer communications for companies. They offer services such as contact centers, help desks, service desks, complaint service lines, telemarketing, and order processing facilities. Operations focus on serving either one or multiple businesses under the same roof.
An ACD routes incoming calls to agents who are available or can best handle the call. Agents are equipped with communication tools, including smartphones, computer telephony systems, voice recording equipment, and headsets.
ACD's have started to offer other services besides customer communication management. They are now capable of processing payment transactions, providing sales leads, sales tracking, and customer service.
The ACD industry is poised to grow by leaps and bounds. The global contact center market alone will be worth $13 billion in 2014 according to "Contact Center World" magazine. This figure is expected to rise to about $17 billion in 2017.
Market demand for outsourced customer service has been increasing due to the desire of many companies to cut costs. This is especially true for outsourced customer service providers (OCSP) that cross-sell other products on behalf of their clients.
The ACD industry will continue to thrive as computers and smartphones proliferate. A crucial development for this market is the increased use of cloud computing technology on the part of ACD providers.
Industry Conditions and Trends
The call center industry is a popular workplace choice because it offers a wide range of employment opportunities for people from all educational backgrounds, business experience, and work experience. It has been reported that there are over 2.5 million positions currently available in the call center industry, according to the American Express OPEN's 2009 State of the Call Center Report. In fact, as a result of this boom in employment opportunities, the US Bureau of Labor Statistics expects the call center services industry to be one of the fastest-growing industries over the next five years.
The call center industry is also popular with employers and employees alike because it provides a good salary and benefits, as well as the opportunity to advance within the company. According to American Express OPEN's 2009 State of the Call Center Report, the average annual income for full-time agents in the US is about $35K; however, some top-earners make up to $60K annually and this figure does not include incentives or bonuses that some agents receive on top of their salary.
The lack of available call center employees is also an issue for employers because it makes it difficult to fill open positions. The demand for CSRs continues to outstrip supply according to industry analysts, and the problem is projected to get worse in the near term.
Despite this challenge, there are plenty of reasons why employers should consider hiring for call centers. Yes, they can be a lot of work for relatively low pay when compared to many other industries. But at the same time agents have it good when compared to others in the work-for-pay equation.
The agent's job is fast-paced and high stress, but it is also rife with potential for growth, advancement, and recognition. Moreover, there are plenty of CSR jobs available despite increased staffing challenges in this industry segment.
The Benefits of Having a Call Center in Your Company
The benefits of having a call center in your company are many, but some concerns must be addressed before making this employment commitment. So let's take a closer look at the benefits of staffing a call center for an organization.
Lower Cost of Labor
Call centers are reliant upon the lower-skill segment of the labor market, and there is a high supply of workers seeking entry-level positions within them. That means you can hire an experienced team for less than what it would cost to staff a more traditional customer service-type job.
Ability To Respond Quickly
Because call centers rely on lower-cost labor, they can respond quickly and efficiently to changes in the business environment. This is an advantage that will be difficult for your top-line managers or company leadership to match with any other means of staffing.
Strong Performance Metrics
Call centers have strong performance metrics, which makes managers committed to achieving the numbers necessary for their business objectives. This is highly prized in businesses that need to maximize revenue while controlling costs.
Proven Hiring Methodology
If you've ever hired someone then spent weeks or months training them only to have them either fail or leave right away, then you know how frustrating this process can be. In a call center representative position, the hiring methodology is already well-established and proven by employers around the world.
Trained Management Structure
Call centers use a very specific management structure that has been shown to work better than other management styles. This type of structure when implemented properly yields a high-performance, highly motivated workforce with unparalleled accountability and job satisfaction.
Conclusion
The call center industry is a booming business. There are many growth opportunities, and it's time to jump on board if you're considering this as an option in your career. If you have any questions about the benefits of working in customer service or what qualifications will be needed, we can help! We offer training programs that prepare people with no prior experience through those with college degrees and years of work experience. Contact us today for more information and don't forget to follow our blog so that we can keep you updated on new developments within the industry!
