Quick Answer: How Can We Prevent Shrinkage In BPO?

How is AHT calculated?

To calculate average handle time, add total talk time with total hold time, then add ACW.

Lastly, divide that by the total number of calls to get the AHT.

AHT can be assessed per agent, per department, or across the organization..

How is occupancy calculated in BPO?

The most obvious call center occupancy formula would be to divide the time an agent spends on calls by all of their available working time. For instance, if an agent spent 54 minutes on calls during one hour (aka 60 minutes) of work, they would have an occupancy rate of 90 percent (54/60 = 90%).

What is shrink or shrinkage?

In accounting, inventory shrinkage (sometimes shortened to shrinkage or shrink) occurs when a retailer has fewer items in stock than in the inventory list due to clerical error, goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale.

What is Excel shrinkage?

In retail terms, shrinkage refers to a company’s percent loss resulting from damage, product expiration and theft of unsold products. … You can calculate retail shrinkage in Excel by dividing the value of goods lost to shrinkage by the total value of goods that are supposed to be in the inventory.

What is a shrink?

Psychologist, psychiatrist, psychotherapist, shrink. To-may-to, to-mah-to? … Psychotherapists help people deal with psychological problems using talk therapy. They can be psychiatrists or psychologists or just trained in those specific type of talk therapy. “Shrink” is a name for any of the above.

How do you control shrinkage?

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…•

How is shrinkage percentage calculated?

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.

What is shrinkage rate?

Shrinkage is the loss of inventory that can be attributed to factors such as employee theft, shoplifting, administrative error, vendor fraud, damage, and cashier error. Shrinkage is the difference between recorded inventory on a company’s balance sheet and its actual inventory.

What is SLA in BPO?

A well-written service level agreement (SLA) stands as a critical component of the relationship between a client and a BPO (Business Process Outsourcing) provider.

What is a good shrink percentage?

The average shrink rate – your shrink amount defined as a percentage of your sales – was 1.44 percent nationally, but almost one in four retailers reported a shrink of 2 percent or higher.

What causes hair shrinkage?

Shrinkage, the godforsaken extra tight coiling of the hair, normally happens after wash day, but can also occur when the weather is humid, or when a twist-out goes bad. … No matter the reason, it’s always a huge eye opener when the hair transforms from its shrunken state to a more stretched pattern.

What is shrink prevention?

Retail loss prevention is a set of practices employed by retail companies to preserve profit. … A preventable loss is any business cost caused by deliberate or inadvertent human actions, colloquially known as “shrinkage”.

What is shrinkage method?

In statistics, shrinkage is the reduction in the effects of sampling variation. In regression analysis, a fitted relationship appears to perform less well on a new data set than on the data set used for fitting. In particular the value of the coefficient of determination ‘shrinks’.

What is included in call center shrinkage?

What is Call Center Shrinkage? Call center shrinkage denotes the difference between the time customer service agents are paid for answering calls and to serve their customers, and the amount of time they actually spend doing their job and making/receiving calls. The difference in the two duration is known as shrinkage.

What are the 3 types of shrink?

There are three main sources of inventory shrinkage in retail:Shoplifting. The number one source of shrinkage for a retail business is, perhaps unsurprisingly theft by consumers themselves. … Internal/employee theft. … Paperwork errors.

What is the biggest cause of shrink?

Shoplifting. Shoplifting is the number one cause of inventory shrinkage in retail. According to the National Retail Federation, it accounts for about 36 percent of annual losses in the U.S.

How is daily shrinkage calculated?

Shrinkage calculation for hoursShrinkage% = (1- (Total staffed hours/Total scheduled hours))Total Staffed hours = (Total answered calls*AHT) + Avail time + productive aux.Total scheduled hours = Total agent hours rostered for the day/week/month.

What is BPO shrinkage?

Shrinkage can be defined as the time for which people are paid during which they are not available to handle calls. There are many reasons that can cause shrinkage – and it has to be taken into account when scheduling the required number of agents to meet call volumes.

How do you calculate Office shrinkage?

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 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 occupancy in BPO?

Occupancy is the percentage time that advisors take on call-related activity compared to the logged-in time. ‘Call-related activity’ covers talk time, hold and after-call work (ACW).