Revenue Assurance departments (RA) vary in size and capabilities across telecommunications companies. However, most executives can agree on the following challenges regarding their resources:
- It is difficult to find employees with proficiency in all the areas of the business that RA touches. The ideal skills that RA team members should possess are varied and subject to debate.
- Many revenue assurance employees need continuous training. Some were hired with managers intending to train on-the-job. But while on-the-job-training is effective, it may not be as time-efficient or structured as formal training programs.
- The range of projects and interactions makes evaluating RA employees difficult.
Luckily, we have some solutions to consider.
Hiring
An RA team needs finance, auditing, and technical knowledge, in addition to RA-specific analytics, systems, and data skills.
Keep in mind one person does not need to encapsulate this knowledge, and having a blend of employee backgrounds and skills is ideal for a team environment.
While hiring RA employees, in general, problem-solving capabilities and communication skills are more important than having experience in all of the categories above.
What some RA teams are doing in relation to hiring:
- Hiring almost exclusively from inside the company, building an RA department with a diverse team of skills and backgrounds.
- Hiring interns and temp workers to fill specific skill or knowledge gaps
- Using obtaining a certain skill set as an incentive for employees to work remotely
- Utilizing third-party vendors as extensions of the RA team
Training
Formal training should be utilized with a mix of on-the-job training. Six Sigma Green Belt training and other formal training can keep RA employees engaged and up-to-date on industry standards. For on-the-job training, bringing employees to RA from other areas of the business can serve as organic training, and encourage a mutual understanding of how the departments integrate. Internship programs are also great opportunities to train future employees on SQL, accounting, auditing, and other specific functions.
Evaluating
Example metrics that executives use to evaluate their RA employees:
- Contribution towards an annual team goal
- Number of cases reviewed per day
- Savings identified and prevented
- Number of projects completed
- Number of requirements implemented
Also consider less traditional metrics that drive growth, such as an employee’s efforts to improve business processes, address root causes, or initiate positive change.
While hiring, training, and evaluating Revenue Assurance departments can vary drastically across organizations, the suggestions above are generally accepted as best practices among telecom executives. Consider what is most effective for your environment and goals.