Happy Friday! ‘This week in CX’ brings you the latest roundup of industry news.
This week, we’re looking at the latest UK burnout report, and what difference receipts can have on your customer service.
Key news
- CXMStars, Customer Experience Magazine’s annual competition, is now open for live audience voting! Each audience member has up to 5 votes available for both categories, CX influencers and CX professionals, to find out the final ranking of the 2024 CXMStars. Voting is now open until Friday 9th February.
- The latest Red Flag report by insolvency specialists Begbies Traynor paints a bleak picture for UK business, finding that more than 47,000 companies are on the brink of collapse. The report found that in the final three months of 2023, there was a 25% jump in the amount of businesses facing “critical” financial distress. The number of construction businesses in critical distress jumped by 32.6% in the quarter, while health and education saw a 41.3% rise and real estate and property services jumped 25%. The Red Flag report suggests that 539,000 firms were facing “significant” financial stress in the final months of last year.
- HubSpot has become a member of the EU Cloud CoC, showcasing its dedication to robust data protection practices and GDPR compliance.
Commentary news share: Royal Mail impacts
Ofcom suggested the Royal Mail could cut deliveries from six days a week to three. The regulator said this was an ‘option for reform’ as it invites a national debate on the future of the postal service.
David Beirne, Manager of Postal Relationships at Quadient explains the impact this could have, from missed NHS appointments to house sales falling through, and how businesses can limit the damage.
“As the Government recently stated, a six-day postal service is vital for many businesses. Halving the number of Royal Mail delivery days would have a serious impact, as many organisations still rely on letters as their main communication method. Imagine how many more NHS appointments will be missed, and the number of home purchases that will fall through. All of this will have a costly knock-on impact, both for organisations and the general public.
“If the Royal Mail’s obligation falls to five days a week or lower, organisations will need to be prepared. They urgently need to review the way they currently communicate with customers, prioritise letters that are the most time-sensitive, and ensure mail room processes and technologies are set up to get them out the door as quickly as possible.”
Commentary news share: Microsoft cyber attack
Last Friday evening, Microsoft executives had their emails hacked, with the company saying the attack was carried out by a Russian intelligence group.
Al Lakhani, CEO of IDEE, said: “When even tech behemoths like Microsoft cannot protect themselves against as common a threat as password spraying, how can their customers trust in their cyber solutions? Or, for that matter, in Microsoft’s ability to keep their systems and data safe?
“The story highlights the same old issues; if you continue to rely on the centralised storage of credentials, and focus on detection rather than prevention, then you’re a sitting duck.
“Organisations must deploy authentication methods that can prevent ALL cyber attacks, including password spraying and other password-based attacks, credential phishing and adversary-in-the-middle attacks that leverage ‘credentials’ as the initial access vector. This means investing in solutions that are founded on strong digital identity proofing and transitive trust, in turn allowing businesses to improve their security and productivity with the least amount of time and resources.
“The only thing we can hope is that high-profile breaches like this shock businesses into action.”
Mental health UK burnout report
One in five workers have taken time off as a result of poor mental health caused by pressure or work-related stress in the past year, according to new research.
The Burnout Report 2024 by Mental Health UK warned that the UK was on the verge of becoming a “burnt-out nation”. 91% of UK adults said they experienced high or extreme levels of pressure and stress at some point in the past year. The survey consisted of 2,016 adults – 1,132 of whom were workers.
Other factors contributing to burnout included:
- High or increased workload (54 per cent)
- Working unpaid overtime beyond contracted hours (45 per cent)
- Feeling isolated at work (42 per cent)
It also discovered that, while 57 per cent of working adults felt comfortable informing their line manager or senior leader if they were experiencing high or extreme levels of stress at work, 35 per cent said they were uncomfortable voicing their concerns.
Furthermore, 29 per cent said their workplace had plans in place to help colleagues spot the signs of chronic stress and prevent employee burnout. while 49 per cent said it did not, and 22 per cent said they were unsure.
The survey also highlighted the factors that might reduce stress and avoid burnout at work. 56 per cent noted a healthy work-life balance, and 43 per cent named a supportive line manager or supportive colleagues and peers (42 per cent).
Other leading factors included reasonable adjustments at work (38 per cent); professional support for mental health, such as employee assistance programmes or coaching (29 per cent); and organisations offering staff training around mental health at work (24 per cent).
CXM mental health at work resources:
- How to take care of your employees: having a proactive, sensitive approach to mental health in the workplace
- The leadership of kindness must be BAU in 2023
- 10 key indicators of burnout and its impact on the workplace
Receipt Offenders Losing Out on Lost Receipts
As the cost of living crisis endures and retail returns rates are on the rise, Yocuda, the digital receipt solution has found that paper receipts could be costing Brits dearly. Its recent research has found that 65% of UK shoppers have lost a receipt they needed to make a return or exchange. It seems Gen Z are the ‘receipt offenders’ with 74% of those aged 18-35 stating this occurs often.
Beyond returns, almost eight in ten shoppers (77%) said they had thrown away a receipt that they meant to keep hold of. The ongoing ‘loss’ of receipts has left almost half of shoppers annoyed at themselves for the mishap (49%) and a quarter feeling frustrated or irritated (27%).
It’s no wonder receipts are being lost as shoppers profess to throwing receipts straight into their wallet, purse or pocket (48%) or leaving them in the shopping bag (28%), with only 26% filing them for their records.
Digital receipts are on the rise, however, with 75% of UK shoppers having been offered one in store. Shoppers are calling out for more digital receipts with 62% wanting more retailers to offer the option – rising to 77% and 80% for those aged 18-25 and 26-35 respectively.
In fact, nearly half of shoppers (47%) said they would be more likely to shop with a retailer if they made it easy to receive a digital receipt.
Key benefits highlighted by shoppers:
- 60% of shoppers prefer digital receipts as they’re less likely to lose them compared with paper receipts.
- Convenience is valued, with 45% finding digital receipts easier to store in their email inbox.
- 38% of shoppers highlighted the ease of digital receipts when making returns.
- 24% emphasised better access to customer services through digital receipts.