WHAT IS ERIC ( IN BRIEF)? ERIC stands for EMPATHY RATING INDEX COMPANY and is the methodology designed and adopted by Harding & Yorke for measuring ' How it feels to be a Customer' and ' How it feels to be processed' when interacting with an organisation. The standard benchmark is based on a twice- a- year study of around 200 companies from 13 different industries - each serving the UK - and is based on prospective customer calls into contact centres. Exactly 40 calls are made by employed Harding & Yorke researchers into each company over a three week period. No call is scripted, however the researchers use approved and tested stories and scenarios that are typical of customer interactions. Harding & Yorke's quality monitoring team ensure that all our researchers maintain the highest standards of accuracy and consistency. WHY IS ERIC SO IMPORTANT? After four years and the collection of over 3 million data points, the information was shared with Professor Merlin Stone and Dr. Yuksel Ekinci of Oxford Brookes University Business School. Their remit was to investigate any correlation with profitability. After carrying out both validation and regression analysis they reported a very high correlation of 0.85 against Return on Capital Employed. ERIC is the world's only service- related measure to correlate directly with profit and is proven to be valid, reliable and sensitive - all essential components in authentic research models. HOW FAR CAN ERIC GO? The ERIC measurement methodology has also been adapted by Harding & Yorke to successfully work across all functions and channels of a business including: Telephony / Retail / Face-to- Face ( meetings) / Correspondence / Internet and Email and Individual Assessments. ACCESSING ERIC REPORTS Various formats of the full ERIC reports are available. These include on- line access, comparative studies both vertically within industries and horizontally across industries, sound bites chosen to demonstrate specific trends and presentations designed and delivered to truly make the data come alive. To gain access to our on- line demo and current price list please contact: Jamie Lywood on + 44 ( 0) 7850 20 20 30 or at JL@ empathy. co. uk or go directly to our website at www. empathy. co. uk and follow the ERIC links. " More stupefying than the sheer number of our measures is the ease with which they are proposed and the uncritical manner in which they are accepted. In point of fact, most of our measures are only measures because someone says they are, not because they have been shown to satisfy standard measurement criteria ( validity, reliability, and sensitivity)." Gilbert A. Churchill ( Professor of Marketing, University of Wisconsin- Madison) THE INDUSTRY SCORES AND RANKINGS LISTED IN THE EMPATHY PROPHET T ARE PROVIDED BY THE ERIC PROGRAMME T
© 2009 HARDING & YORKE WELCOME TO THE THIRD ISSUE OF My name is Morris Pentel and I have only been with Harding & Yorke since October 2008. I am the Managing Director of the Channels business and my brief is to explore relationships and business opportunities with other organisations. Since joining Harding & Yorke I have been enormously impressed by the high regard in which my new colleagues are held by some of the largest organisations in the world. As such, I feel certain that over the next few months we will be able to announce new partnerships that will enhance our offerings and those of our chosen partners and bring additional value to our clients. Over the past year the downturn in the corporate climate has caught many of us off- guard and whilst I am both excited and impressed by ERIC's correlation with profitability many of the people I have been talking to recently are less interested in looking for ROCE ( Return on Capital Employed) and more interested in how they can save money through either OPEX ( Operational Expenditure) and/ or HR. Yuksel Ekinci is busy completing an academic journal on the findings of early 2008 ( which will be made available to all YEP subscribers) so in this edition I have asked Harding & Yorke's Chairman, Jamie Lywood, to explore some of the benefits reported by their clients that relate to expenditure and HR. As always please feel free to call me personally if you would like to discuss any of the topics discussed in this edition. Morris Pentel Managing Director, Channels Harding & Yorke + 44 ( 0) 7747 561 656 MP@ empathy. co. uk 03 The INDUSTRY RANKINGS & AVERAGES tables following, indicate organisation Empathy and Process Scores ( from our 1 to 10 scale) taken from industries researched over the past quarter. THE LIST is a complete ranking of comparable Empathy ratings taken from those companies that are, or have been, included in the ERIC standard benchmarking programme. Editor: Richard Dinnick Editorial Assistant: Clare Mercer Contact: editor@ empathy. co. uk Web site: www. empathy. co. uk Produced for Harding & Yorke by Right Dynamic - www. rightdynamic. com In line with Harding & Yorke's environmental policy, the production and delivery of YOUR EMPATHY PROPHET T has been fully offset.