COPs Update
We are 10 months on from the restructure of the client services area, and are delighted to tell you that we’ve now reached our target headcount.
Having a full headcount allows us to slow down our rate of recruitment, meaning that there will be fewer team changes and more consistency with who you interact with – something that we know matters to you as well as us. It also means that as each day and week goes by, our staff become more knowledgeable and experienced, allowing us to build on the service and support that we provide to you.
We continue to prioritise staff engagement as this underpins all that we do. Having recently completed our 2023 staff engagement survey, it is great to be able to share that in all of the key areas staff responded extremely positively. Importantly this showed that around 95% of respondents felt supported and listened to, motivated to do the best job possible, and that they feel our values are aligned with the way that we do business.
We will stay focussed on this area by supporting staff and their wellbeing, giving them the tools, training and support to deliver a great service, and by building on the various opportunities introduced last year, like the specialist roles.
We have also come a long way with our turnaround times since the restructure. Back in October 2022 we were getting to 99% of items within five days. Fast forward to August 2023 and it is closer to 99% within two to three days.
As part of the newly formed Transfers Specialist role, we were keen to increase how effectively we handled transfer rejections. I am pleased to report that we now get to 99% of all rejections within two days, and very often can resolve this in consultation with the other provider and without the need to trouble you or the client.
Some feedback earlier in the year alerted us to the fact that it wasn’t always easy to reach us on the phone. We wanted to address this, and in recent months have seen a reduction in ‘dropped calls’ of nearly 50%.
And finally, whilst we would rather not give you cause to complain, naturally there will be occasions where this does happen. In recent months we have put a large focus on how effectively and promptly we are resolving complaints, and have seen a reduction in outstanding cases of around 75%.
Looking ahead, whilst we will continue to push on in all areas covered above, we are also now turning our attentions towards ‘how’ we work with you. Ultimately, we want to make things as easy and as smooth as possible – finding pragmatic solutions to problems, picking up the phone rather than sending an email where we can, and investing more time and effort into getting to know your teams and your business. This way we can ensure we are giving you the best possible service!
1. Introduction
2. Transact Online (TOL) – Recent Enhancements
3. Electronic Fee Reconciliation Data
4. COPS Update
5. Clients Can Add Their Nominated Bank Account Details via TOL
6. Share Class Conversion
7. Transact- BlackRock MPS Events
8. The Trust Registration Service (TRS) Challenges One Year On
9. Fund Changes
10. Interest on Cash Deposits
11. Transact Events 2023