Moneycorp benefits from innovative approach to customer‐service training: Personal development plans provide data on key performance areas

Abstract

Purpose

This paper aims to describe a 12‐week training program for cashiers and branch managers that helped to improve customer service at Moneycorp, which operates retail currency and foreign exchange outlets at a number of UK airports.

Design/methodology/approach

The paper explains the reasons for the training, the form it took and the results it has achieved.

Findings

The paper details how interaction was the key to making the experience engaging for trainees, so the company used group games and media, personal presentations, guest speakers, video mystery shoppers and role‐play as well as on‐site individual coaching and personal‐development time.

Practical implications

The paper reveals that the pilot group produced a 10 percent increase in sales turnover, making the program an excellent return on investment.

Social implications

The paper explains that, although the recession had not hit at the point that the Moneycorp training academy idea was conceived, it was becoming apparent that external factors such as airline bankruptcies and lower passenger numbers were going to bring some significant challenges. The training would put the company in a much stronger competitive position.

Originality/value

The paper highlights how the introduction of a personal‐development plan provided data on key performance areas. This furnished the transparency and ownership to motivate staff to go above and beyond what they had achieved before – even the top performers.

Citation

(2011), "Moneycorp benefits from innovative approach to customer‐service training: Personal development plans provide data on key performance areas", Human Resource Management International Digest, Vol. 19 No. 6, pp. 14-16. https://doi.org/10.1108/09670731111163455