Shrinkage

What it's for

Raw interaction cost only accounts for time spent actively handling interactions. It doesn't reflect the non-productive time that's a normal part of running a contact center - breaks, training, absenteeism and so on. Shrinkage lets you layer a percentage on top of your cost metrics so they reflect that fully loaded cost, which is useful for reporting real operating cost to stakeholders or building a business case.

How to use it

1. Hover over the Total Interaction Cost or Workload metric card - a shrinkage icon appears.
2. Click the icon to open the shrinkage panel.
3. Toggle Shrinkage on.
4. Enter your % value. Check with your workforce planning team for the current figure.
5. Click Apply.

Good to know

• Setting a % value updates the Total Interaction Cost and Workload metric cards to reflect the fully loaded cost.
• Average Interaction Cost and the chart bar values are not affected - they continue to show the pre-shrinkage figures.
• Once activated, everyone who logs into OI will see the shrinkage symbol on the affected metric cards. Hovering over it shows the % currently applied.
• To turn shrinkage off, toggle it off in the same panel and click Apply - costs revert to their unloaded figures.

Use cases

Building a fully loaded cost view to share with stakeholders

You want to send workforce planning stakeholders a cost breakdown of your current pain points, with shrinkage factored in.

1. From your dashboard, click Opportunities, then drill into Pain Point to focus on the inquiries worth addressing.
2. Adjust your metric cards down to just what you need - for example Volume, Handle Time, Total Interaction Cost, Workload, and Average Interaction Cost - and click Apply for a cleaner view.
3. Hover over the Total Interaction Cost or Workload metric card and click the shrinkage icon.
4. Toggle Shrinkage on, enter the % your workforce planning team has given you (for example 30%), and click Apply. Total Interaction Cost and Workload now reflect the fully loaded figure.
5. Go to Widgets and click Export. The CSV includes every Root Cause, Inquiry and Sub-Inquiry, with total volume, handle time, total interaction cost, workload and average interaction cost for your selected time period. Total Interaction Cost and Workload reflect the shrinkage-adjusted figure; Average Interaction Cost stays at its pre-shrinkage value.
6. Send the CSV to your stakeholders.

Want to see more? 

See the Insights #15 OI University Module.