In the Race to Solve the “Engagement Capability Gap,” Organizations Are Leaning into Customer Service Technology for Digitally-Focused Engagement and Empathy
Navigating a constant state of change, fueling sustainable workforce strategies and protecting employee well-being top the list of priorities in the second year of post-pandemic operations
MELVILLE, NY, March 22, 2022–(BUSINESS WIRE)–Two years into the global pandemic, organizations are racing to address the engagement capacity gap™relying on customer service technology to support digital engagement and more empathetic relationships with customers, and struggling to deal with a litany of other trials and tribulations.
Last year, Verint® (NASDAQ: VRNT), the customer engagement company™presented his fundamental research on the Engagement Capacity Gap™ brought on by new workforce dynamics, ever-expanding customer engagement channels, and an exponential number of consumer interactions – all of which must be managed with limited budget and resources.
This year, Verint’s research – based on a survey of more than 2,700 global business leaders – shows that new pressures are impacting the engagement capability gap, creating new challenges for brands, and 76% of respondents believe these challenges will increase in 2022.
Respondents cited their top technology-driven customer engagement initiatives that support improved agent experience and well-being (60%), digital-driven customer engagement (59%), and support tips from agents for expressing empathy (58%).
Still reeling from the dramatic effects of the pandemic, businesses are facing new challenges, including supply chain issues and staff shortages. Fifty-two percent struggle to retain customers due to supply chain issues, while 71 percent find retaining talented workers moderately or very difficult. While last year’s survey showed that many organizations had scaled back their hiring plans, this year’s survey shows a marked change: 60% plan to increase staff levels to support engagement customers in 2022 (up 9% from last year).
“Two years into the pandemic, organizations see a future of constant change and continued challenges – especially when faced with significant staffing issues amid the ‘Great Resignation’ and widespread disruptions to global supply chain – problems that seemingly have no resolution in sight,” said Celia Fleischaker of Verint, chief marketing officer. “While brands have weathered the initial shock and disruption of the pandemic, they are now operating in a state of ‘disruption as usual’, having to respond to the rapid changes underway.”
Fleischaker continues, “Brands are moving beyond reorienting operations for remote working; in 2022, the focus is on improving performance and leading with empathy to improve the long-term customer and employee experience. term.”
Focus on critical needs and capabilities
In 2021, organizations increased budgets for digital-focused initiatives/channels; 41% increase in budgets for voice of the customer and experience management, 40% for chatbots and intelligent virtual assistants (IVA), 39% for social messaging for customer service and 35% for communities .
Going forward, 35% plan to increase their budgets for chatbots and IVAs to help beleaguered agents improve their efficiency and decision-making, and 37% plan to increase investment in knowledge management, as “the ability to quickly find information to better serve customers” was noted as a major workforce goal in 2022.
Quality and performance solutions were the most implemented and expanded solutions last year, and respondents say they will continue to be one of the top budget spenders in 2022. Other priority areas in 2021 were workforce management and compliance, security and fraud.
Understanding and acting on consumer behaviors and building lasting relationships with customers were the top two challenges identified in last year’s research and remain the top two challenges for the coming year. Nearly half (47%) considered obtaining a unified view of customer experience a major challenge, while much of their customer interaction data resides in multiple data silos.
Respondents are embracing ways to support kinder, gentler, more human-centric engagement — and companies are devising tech-infused strategies to protect both employee wellbeing and the delivery of customer engagement empathetic. Ninety-one percent have adopted technologies and strategies to support greater empathy in their customer engagement efforts for 2022.
Register for the webinar, New Dynamics Influencing the Engagement Capacity Gap, at 11 a.m. ET on March 23, 2022. Register for The State of Workforce Dynamics, a fireside chat with Maribel Lopez of Lopez Research, April 6, 2022 , at 11 a.m. ET. Click on the link to download the full study on the engagement capacity gap.
About the survey methodology
An independent research firm collected the data between December 2 and December 23, 2021, via a personalized online survey. The survey panel was comprised of 2,742 individuals who are decision makers/recommenders/influencers for customer engagement and experience solutions for their organizations operating in 13 different countries and regions around the world.
Verint® (Nasdaq: VRNT) helps the world’s most iconic brands, including more than 85 of the Fortune 100 companies, build lasting relationships with their customers by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio is built on the latest advancements in artificial intelligence and analytics, an open cloud architecture, and the science of customer engagement™ to help customers bridge the engagement capability gap™.
Verint. The Customer Engagement Company™. Learn more at Verint.com.
This press release contains “forward-looking statements,” including statements regarding expectations, forecasts, beliefs, opportunities, plans, strategies, beliefs, and statements of similar effect regarding Verint Systems Inc. These statements forward-looking statements are not guarantees of future performance. and they are based on management’s expectations which involve a number of risks, uncertainties and assumptions, each of which could cause actual results to differ materially from those expressed or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2021 and other documents we file with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint undertakes no obligation to update or revise them or to provide reasons for which actual results may differ.
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