CONTACT CENTRES AND THE COST OF LIVING CRISIS
- 19 October 2022
Waking up to the news every day alerting us to the latest data on the cost of living crisis surely affects the most resilient amongst us. Today’s headline is that inflation figures show the cost of living went up 10.1% in the 12 months to September. This means rising at their fastest rate for 40 years. And let’s remember this was calculated pre ‘mini budget’ (but we’re not venturing down a political alley, there’s plenty written about that elsewhere).
If you follow ReynoldsBusbyLee on social media you’ll already know we encourage people who find themselves in a financially vulnerable situation to turn to their energy suppliers (for example) and ask for help if they need it. However, we’re increasingly concerned by reports that 90% of vulnerable customers are struggling to access contact centres to seek that help. And, according to a survey carried out by MaxContact, 52% of vulnerable customers had to abandon solving a problem because it was too difficult, with 57% saying this had a negative impact on their mental or financial wellbeing. So, the act of reaching out for help actually made their already precarious situation worse.
If you’re of the mindset that it’s a very small minority who need additional support then you’d be wrong. A recent report exploring the financial resilience of working households across the UK carried out on behalf of Legal & General during June and July found almost 2 in 5 of us have had to cut back on food - 50% of those with no savings have had to cut back on heating and lighting. And, again, let’s remember this data was collated before our nation’s most recent financial fiasco.
It’s imperative that every business, organisation and charity is able to recognise and support their vulnerable customers and supporters. Ignore them at peril. The repercussions could be far greater than simply losing them to your competitors.
To find out how you can learn how to recognise your vulnerable customers, supporters and employees and make reasonable adjustments to support them CONTACT US today.
Amanda Harries
Photo: Elisa Ventur @Unsplash
