On paper, as a result of changes to income tax and National Insurance in last week’s mini-budget, the average person should have more money in their pocket. However, any extra cash will not remain in the pockets of consumers for long as the rising cost of living and the impact of increasing inflation are felt by all.

This will continue to make more and more people financially vulnerable this Autumn and Winter. In addition, vulnerable customers that are receiving financial support from the government are not expected to see a rise until April 2023.
In the not-so-distant past, “vulnerable customers” was a term that was reserved for a much smaller group. However, the cost-of-living crisis means that the definition of “vulnerable” must be extended to include those with low incomes or household food insecurity.

In the UK, it is now estimated that around 1 in 3 households are struggling to pay bills and of the 67 million people in the UK, over 53% could be in vulnerable circumstances.

As such, organisations can expect an increase in call volumes from vulnerable customers and need to make sure that they are able to effectively support them. To accommodate this, it is critical that organisations and their employees are equipped to handle more complex interactions with vulnerable customers and can confidently navigate emotive conversations.

Identifying vulnerability through technology

The fair treatment of vulnerable customers is not a tick-box exercise; rather, it is something organisations need to integrate into their teams and processes. Identifying vulnerable customers is a difficult and complex task for a variety of reasons. Many people will look to mask their vulnerability and, similarly, some individuals will resist being identified in such a way.

To assist vulnerable customers, it is essential that employees are first supported to be able to feel confident in identifying them. Identification of vulnerable customers is a process that can be supported by technology and works most effectively when coupled with human interaction and judgement.

Collecting and analysing data from conversations can support organisations in the identification of vulnerability. Utilising software that looks for specific words or phrases (e.g., job-loss, illness, etc.), or even picks up on what is deemed as a sensitive situation, can support teams in identifying and providing the right service for vulnerable customers.

Once a vulnerable customer or sensitive situation is identified, it’s vital that they are met by advisors that are equipped to deal with this. This relies on tech-assisted coaching and development so that advisors can listen as well as ask the right questions at the right time.

Providing channels that allow discreet communication

Some customers will inevitably be unwilling to talk about their debt or financial concerns. In this scenario, it is important that organisations provide the right environment and the right channels through which to engage.

According to Stepchange.org, “thousands of people are dealing with their debt alone and have no one to talk to about it. This can make debt an even bigger burden to carry.”

It is key then that when a customer reaches out for advice that they not only feel listened to but also heard, and receive empathy from the organisation that they are dealing with. Utilising alternative communication channels such as webchat or WhatsApp can provide a discreet way to interact, limiting the risk of friends or colleagues overhearing personal information.

It’s important to also consider digitally vulnerable customers and adapt in a way that works for their situation. The best approach to navigating this is to look at an “opti-channel” approach rather than “omni-channel”. This means utilising available data on past channel choice and the task at hand to offer the customer their preferred choice, rather than offering vulnerable customers a list of options that don’t work for them.

Improving agent training and empowering employees

Advisors should be empowered to engage and support potentially vulnerable customers. This means that training should be designed to help advisors connect with vulnerable customers regardless of communication channel used.

Aside from initial training, advisors need coaching and development to support them in navigating the ever-changing “vulnerability” landscape. For organisations to best support their customers they should have advisors that have effective listening and questioning skills. This will help detect potential issues and provide the relevant support and reassurance to the customer.

Alongside employees’ own struggles and concerns with the cost-of-living crisis, they also will be having emotionally challenging calls with your customers. It is essential then that there is a culture of sensitivity and empathy in dealing with customers to help create a more positive customer experience.

Customer service teams will be speaking or interacting with vulnerable customers and should be prepared for the fact that the advisor might be the only person that the customer has spoken to that day. This is going to be tough, so it’s important to provide both the customer and advisor with the right level of support.

For teams engaging with vulnerable customers, organisations should ensure that the right wellbeing and support channels are in place to provide the necessary care. Some conversations can be emotionally draining, which is where advisors may need the assistance of mental health advisors and direct management.

Relaxing of time-sensitive metrics

Key metrics measuring advisor performance, like AHT (average handle time) or ASA (average speed to answer), need to be reviewed in the overarching approach to vulnerable customers. Providing a dedicated team to support vulnerable customers where the priority is on customer experience and satisfaction will drive the right results for vulnerable customers.

Vulnerable customers with more complex enquiries need to feel like they are being listened to, understood, and not made to feel that they are being rushed during interactions.

Advisors may find that vulnerable customers need longer to go through their options. Removing time-sensitive metrics means that advisors can take longer to exhaust all options with the customer.

Looking ahead

While pressures on customers look set to continue, there is a strong need for an empathetic and considered approach to dealing with those living through difficult circumstances. Organisational leaders and their employees have the responsibility to identify potential vulnerable customers and to ensure that they receive any necessary support and guidance for the foreseeable future.

The cost of living crisis continues to loom over the British economy and its citizens, and HGS, a global leader in customer experience optimisation, believes public sector organisations and their contact centres must put responsiveness at the heart of their strategy to ensure citizens have access to the support they need during these unsettling times.