Transforming Dispute Resolution: Tim’s COE Journey - Quality Business ServicesQuality Business Services

Transforming Dispute Resolution: Tim’s COE Journey

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As the manager of an internal dispute resolution team in the financial services sector, Tim was a passionate advocate for his organisation’s customers. Any complaints that weren’t resolved within the various business lines became the responsibility of his team.  If his team are unable to resolve the dispute within prescribed timeframes it is escalated to AFCA at significant financial and reputational cost.  Furthermore, a recent acquisition had added further complexity to an already complex business, selling various products through multiple channels.

Tim needed to sustainably improve the dispute resolution process for the benefit of all parties and when QBS’s Core Operational Excellence leadership training program came along, it was the perfect vehicle to achieve this.  He took responsibility to analyse, optimise and improve his own function using proven operational excellence concepts.  

THE ISSUES

Through the lens of operational excellence, Tim was able to identify the priority issues that needed to be addressed:

  • Varied, undocumented complaint processes across the business
  • Insufficient dispute resolution (DR) process documentation – in addition to causing variation, this also placed a reliance on the experienced team members to support the less experienced
  • Highly variable DR team capability
  • Skill gaps within DR team 

ACTIONS TAKEN

With the above issues in mind, Tim was able to drive specific actions to sustainably shift the needle for his business and team:

  • Documented current business complaint processes
  • Dispute resolution processes agreed and documented (by the team, for the team)
  • Skills matrix created to prioritise skill gaps to be closed with team members achieving Society of Consumer Affairs Professionals accreditation
  • Changed the process to ensure team member speak with the customer at the outset and used open ended questions
  • Developed templates and increased standardisation for common complaint types
  • Increased collaboration within the business 

THE RESULTS

The results that Tim achieved within just seven months are astounding:

  • Time to resolve complaints decreased from a median of 22 days down to 17 days 
  • Reduction in complaints escalated to AFCA from 72% to 34% (similar total number of complaints).   Each complaint that escalates to AFCA costs ~$3,150.  This saved the company around $130k in one month alone!
  • Productivity gains from less effort expended on each complaint resulted in 1 FTE headcount reduction
  • Happier customers, happy regulator, happy business!

Next frontier? Work with the business to reduce the number of complaints!

This is a fabulous example of how leaders can improve their operational performance without engaging external consultants – it is usually achieved through a handful of relatively small actions to address the specific challenges in that area. In addition, the skills Tim learnt will be with him throughout his career.

If you would like your leaders to turn their function around without engaging expensive consultants, click here to learn more about Core Operational Excellence and QBS’s other development programs.

Crisis Management 101: Protecting Your Organisation in Uncertain Times - Quality Business ServicesQuality Business Services

Crisis Management 101: Protecting Your Organisation in Uncertain Times

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We’ve all heard the old adage: “The only constant in life is change.” But when unexpected change takes the form of a crisis, your business could find itself navigating uncharted waters. In times like these, a solid crisis management strategy becomes your lifeboat.

Why is crisis management so important? Simply put, it safeguards your business during tough times, ensures continuity, and can even provide opportunities for growth. But, how do you create an effective crisis management plan? This blog post is here to guide you through the fog.

Understand the Types of Crises

Crisis situations can emerge from virtually anywhere. They could be financial, stemming from a sudden economic downturn or a major client’s loss. Technological crises can arise from data breaches or system failures. Then there are natural disasters, like fires or floods, and human-induced crises, such as workplace accidents or scandalous revelations.

Recognising the types of crises your business could face is the first step towards being prepared. Once you’re aware of the potential risks, you can begin to devise strategies to mitigate them.

Have a Plan in Place

You wouldn’t set sail without a compass. Likewise, you shouldn’t navigate business without a crisis management plan. This should include procedures for immediate response, communication strategies, recovery processes, and protocols for reviewing and improving after a crisis.

As you draft this plan, involve all relevant stakeholders—employees, management, investors, and even customers. Their input can provide valuable perspectives and help create a more comprehensive, robust plan.

Communication is Key

In a crisis, rumors and misinformation can spread like wildfire. Clear, consistent communication with your stakeholders can douse these flames and maintain trust. Be transparent about the situation, your response, and what it means for your stakeholders.

Internally, employees should be well informed about crisis protocols. Externally, your clients and customers should receive reassurance about how you’re handling the situation and how it impacts them.

Learn and Adapt

Post-crisis evaluation is a crucial step often overlooked. Analyzing your response to a crisis can help you understand what worked, what didn’t, and how you can improve. This learning is an opportunity to strengthen your crisis management plan and be better prepared for future emergencies.

While crisis management might sound daunting, you don’t have to face it alone. At Quality Business Services, we’re committed to helping businesses like yours weather any storm. Our comprehensive range of programs includes essential skills such as crisis management, communication, leadership, and more.

By participating in these programs, you’ll gain practical knowledge and tools to confidently guide your organisation through uncertain times, and you might just discover some hidden opportunities along the way.

We hope you found this information useful. If you’re interested in learning more about how Quality Business Services can help your organisation thrive, even in a crisis, we invite you to explore our programs here.

Remember, “Smooth seas do not make skillful sailors.” It’s through navigating the challenging times that we grow and strengthen our businesses. Stay prepared, stay strong, and keep sailing.