Daily Archives: October 14, 2021

Updates from McKinsey

An on-demand revolution in customer-experience operations?
Whether relying mainly on in-house or external talent, gig-style staffing models—when managed carefully—could give customer care the horsepower and flexibility it needs for today’s increasingly volatile markets.
By Vinay Gupta, Raelyn Jacobson, Paul Kline, Manu Mehndiratta, and Julian Raabe – When businesses across the globe were forced to shutter in 2020, the leaders at one regional North American bank shifted to virtual mode. Anticipating that customer-call volumes would remain elevated through the early months of the COVID-19 pandemic, bank leaders created a streamlined training module to cross-train sidelined branch workers. The extra support from branch colleagues helped the bank to manage the high volume of calls. Better still, because the supporting workers were branch personnel, their knowledge of the bank’s processes, products, and culture helped maintain the high level of customer satisfaction that the bank had worked so hard to achieve. Leaders learned that this internal “gig worker” approach could be a solution for managing future spikes in demand, whether from unforeseen events or seasonally based capacity increases. And, during a time of great uncertainty, it gave employees new opportunities—to work flexibly, learn new skills, and even find new career paths. That flexibility may give companies an edge now that many are fighting a “Great Attrition.” 

The COVID-19 lockdowns sparked a major scramble to move business to online and phone-based channels. Not every company, however, was prepared to handle the ensuing digital deluge; at this point, there are little data on how effectively companies coped. But the experiences of companies to date show that many organizations are now rethinking how they staff customer-care operations.

Flexible staffing—the use of external talent from outsourcing providers or independent freelancers—has been a staple of customer service for decades. But the pandemic may well be the first time that the redeployment of in-house talent from other departments has occurred on a relatively large scale.

Both approaches, externally and internally sourced, constitute the core of what we call “gig customer-experience operations,” or Gig CX. And it behooves companies from across the industry spectrum to consider making this strategy a part of their regular operations. In this article, we explore the pros and cons of Gig CX and identify four essential elements that must be in place to make it work. more>

Want to Try a New Ride Into Space? Fly a 3D Printed Rocket

3D printing may offer a way of building a rocket with a fast manufacturing turnaround and less cost than traditional manufacturing.
By Rob Spiegel – 3D printing may offer a way of building a rocket with a fast manufacturing turnaround and less cost than traditional manufacturing.

Soon, the quickest and cheapest ride into space may not be in the hands of SpaceX, Virgin Galactic, or Blue Origin. It may be in the hands of a 3D printing company.

3D printing may offer a way of building a rocket with a fast manufacturing turnaround and less cost than traditional manufacturing.

Soon, the quickest and cheapest ride into space may not be in the hands of SpaceX, Virgin Galactic, or Blue Origin. It may be in the hands of a 3D printing company.

Relativity Space is an L.A.-based American aerospace manufacturer founded in 2015 by Tim Ellis and Jordan Noone. Relativity Space is developing manufacturing technologies, launch vehicles, and rocket engines for commercial orbital launch services using 3D printing. more>

Master Bond

militaryaerospace.com – With a product line of over 3,000 formulations, Master Bond has been supplying aerospace and defense manufacturers with custom formulated compounds for structural bonding and a variety of electronic applications. Master Bond’s mission is to develop cutting edge adhesives, sealants, coatings and potting/encapsulation systems utilizing advanced technology for challenging applications.

Our expansive line of epoxies, silicones, UV curable and LED curable systems feature superior performance properties even in extreme conditions including:

  • High/low temperature resistance
  • Electrical conductivity/insulation
  • Thermal conductivity
  • High/low viscosity
  • Flexibility and toughness
  • Chemical resistance
  • Optical clarity

Our products feature superior long-term durability. They are used in a variety of industries and are designed to meet stringent industry standards and are certified for:

  • NASA low outgassing
  • Federal Aviation Regulations 25.853(a) for flame retardancy
  • UL 94V-0 and UL94V-1
  • U.S. MIL-STD 883J (Section 3.5.3) for thermal stability
  • U.S. MIL-STD 810G (Method 508.7) for fungus resistance.
  • Airbus testing for flame retardancy, smoke emission and toxicity
  • Boeing standards for low smoke and toxicity

more>

As Consumer Mood Sours, Are Investors Overlay Optimistic?

Why U.S. stock markets may reflect too much optimism about consumer spending, heading into what could be a subdued year-end shopping season.
By Lisa Shalett –  U.S. consumers have a lot on their minds recently, weighed down by the coronavirus Delta variant, a more-sluggish-than-expected jobs recovery, inflation worries and the spectacle of political wrangling in Washington, D.C. At the same time, financial markets seem to be “climbing a wall of worry,” confident that these growing anxieties about inflation, supply-chain disruptions and the economic drag from the pandemic will soon pass.

We believe the consumer perspective warrants attention. Negative sentiment, especially heading into the year-end holiday season, could presage market weakness, catalyzed by lower-than-expected spending and disappointing corporate earnings.

Let’s first consider that consumer confidence and stock market moves have historically been well correlated; any notable divergences tend to be short-lived. But today, the gap between the two remains uncharacteristically wide. On the consumer side, the Conference Board’s confidence index fell in September for the third straight month, with the gauges of current and future conditions at 5- and 10-month lows, amid lingering concerns over higher prices and a slow job-market recovery. Note that job growth stalled again in September, missing estimates and signaling that the forces holding back hiring or returning to the workforce may persist.

At the same time, investors’ “buy the dip” mentality, anchored by a belief that inflation is transitory and corporate margins will be sustainable, has bolstered the stock market. U.S. equities did hit a rough patch in the third quarter, but the downturn was contained to within 5% of the pre-Labor Day highs, and advances so far in October suggest that the third-quarter speedbumps may now be behind us. more>