It’s a common moment in the life of any business, that moment when you realise that your business wouldn’t exist without your customers.
For the financial services industry there is a constant “pendulum” effect between what’s right for their customers and what’s right for them as businesses. This is why there is such a need for heavy regulation.
The latest revelation is the backlash caused by the mass shift of call centre locations by many large organistations away from home soil to cheaper, foreign destinations. It’s been happening for a while now and customers just wont stand for it anymore and are voting with their feet.
Companies are now having to relocate those call centres back to the UK again and all at vast cost. The difficulty is once one company does it they all have to follow.
The BBC published an article yesterday about this and you can read it here .
Was there a way around this? Is it embarrassing for such large companies to have to backtrack?
I don’t know. As always though we can always learn from the mistakes of others.