Peer Intelligence | Winter 2024

The Forum provided an opportunity for our UK clients to meet face-to-face and discuss their current surveying strategy, how they use their results, what works for them, what challenges they face, and most importantly to me, how they are utilizing their results from VoC Benchmarking. 

One area of discussion was the best timeframe to survey for the retirement experience. It is a longer journey with the opportunity for various challenges for the member during the process. If you wait to survey until after the first payment, will the member be satisfied (yay, their first pension payment!) and not provide the feedback that would be valuable in improving the retirement process? Some schemes survey both before and after payment and are interested in noting any difference in sentiment. Something to think about – when do you survey for the retirement experience and why? 

Updates for 2024: 

As VoC continues to evolve, we have identified the need to distinguish between clients who have applied the VoC framework precisely (allowing for a like-to-like comparison) and clients who are supplying data based on their current survey program.   

For this reason, the reports will now be differentiated between ‘optimized’ and ‘directional’ data sets.   

The optimized report will be provided to participants who have applied the VoC Framework methodology by utilizing a 5-point scale, precise scale labels, and have solicited more than 40 responses. This simply means that your score compared to peers is an apples-to-apples comparison. Participants who have applied the Framework in a different way, for example, by receiving less than 40 responses, or using a different scale or scale labels, will receive a directional report. 

When the new report is ready, we will walk through these updates on a webinar and answer any questions you may have.  

On the North American side, we have five new participants for VoC that will be submitting data for Q4 2023. Welcome! We are excited to be working with you. 

Wishing everyone a joyous winter from the Great White North. 

Should you have any questions or want to learn more about VoC, please reach out to me at james@cembenchmarking.com.