Since the pandemic began there’s been a ripple effect of changes occurring within our world, the latest is called the “Great Resignation”. But what does this mean and how will it affect the data in your CRM system?
What is the Great Resignation?
The “Great Resignation” refers to the year 2021, where the number of employees leaving their jobs reached record numbers.
When Covid-19 was at its height many faced redundancy and uncertainty, and those who were lucky enough to retain their job, stayed in that role for security. As life starts to reach normality again, a record number of people are leaving their current roles and moving to different job markets. In the US the Labour Department reported 4.3 million workers quit in December 2021 alone, whilst the UK’s quit rate is the highest since 2009.
What does this mean for you and your customer data?
Whether the resignation is affecting your company internally or not, it will affect the Data in your CRM system and therefore your teams as a result. Customer data already decays at a rate of 30% a year and with such a large shift in the job market this will only increase.
Duplicated, incorrect and not fit for purpose data
Customer data is dynamic and constantly changing, people move jobs and companies relocate or go under daily. As a result, your CRM becomes filled with outdated and invalid data.
This impacts every department, from your marketing team being unable to accurately segment their audience to the IT team having to constantly waste time deduplicating and cleansing the customer data.
The even larger data cleansing task
Manual data review is a tedious, expensive, and often overwhelming task. With such a surge in changes to customer data the process will only get worse. Your IT team will struggle even more to ensure your customer data is complete, valid, and accurate enough to maintain a high data quality standard.
The struggle of attaining a Single Customer View
The common working environment saw a massive change in the pandemic. A wave of work from home and hybrid job roles emerged and it looks like they’re here to stay. In December 2021, 25% of jobs advertised were hybrid roles. Whilst these roles have many benefits, the risk of human error in data implementation does increase.
With the work force more likely to be scattered across the globe, and their work addresses changing, the ability to attain a Single Customer View becomes increasingly harder. Typical CRM out-of-the-box tools cannot deal with large numbers of duplicates, for example, Dynamics 365 only allows 2 records to be merged at any one time!
This simply isn’t enough to deal with the large-scale issues now being faced.
How to work around the issues arising
With almost a third of UK workers considering moving to a new job this year the “Great Resignation” isn’t slowing down. To guarantee your customer data is reliable, accurate and you stay on top of the current changes, rules automation is essential. Many companies use it to switch slow admin tasks to efficient automated processes and to ensure your customer data isn’t impacted by those resigning or switching job roles.
Alongside automation your workers need a clear plan of action with regards to your customer data. Working out of one centralised system will help to prevent a brain drain of information when an employee leaves and takes their cleansed excel spreadsheet with them.
With such a large volume of people leaving or moving roles, you must ensure your customer data is constantly monitored and refreshed to remain up to date. Prevention is easier than cure and ensuring these simple precautions are in place helps to make sure your company in a strong position to tackle the “Great Resignation.”
Not sure where to start? Book a DQ Discovery Call
Looking to unlock the full potential of your customer data, but struggling with data quality issues? Our DQ Discovery Call service is here to help! Our team of experts will analyze the root causes of your data quality challenges and provide you with practical solutions to transform your customer data into a powerful tool for success.