The Economy is Choking on Cost Containment
By Kevin M
The other day, my wife called our prospective health insurance carrier, trying to get our plan initiated. She was greeted by voice mail and immediately placed on hold. Once she did get a live voice, she was placed on hold two more times, only to find that our paperwork was “still tied up” somewhere in oblivion. The first two representatives she spoke with were clueless about our case, the third promised to follow up and get back with us. We’re still waiting.
Here’s a curious point: until this paperwork issue is resolved not only do we have no coverage, but the insurance company has no revenue stream from us.
Stop and let that sink in. You’re a business owner or manager, and your company has problems. Costs are rising and need to be contained. Staffing, perhaps your biggest single expense, needs to be pared in order to improve the bottom line. Technology is brought in to eliminate payroll. Your customer is now “greeted” by voice mail instead of another human being, then routed through a telephone labyrinth of numeric multiple choices in the hope of finding the right person, the one who can help with their problem. Often, as in our situation above, that person is never found.
Question: what is that inconvenient arrangement doing to that other crucial component of your bottom line–your customers and the revenue they bring to your business?
