Energy retailer increases sales compliance from 50% to 97%

Overview

A major energy retailer operating in the competitive UK residential and business energy markets was struggling with regulatory compliance in their sales operations. The company, which serves thousands of customers through both direct sales and third-party channels, faced increasing scrutiny from industry regulators and needed to dramatically improve its sales call compliance to avoid potential penalties and maintain its market authorization.

Challenges

• Sales call compliance was critically low at 50%, well below the industry standard of 95%
• This posed significant risks to our partners' business operations, particularly in the residential segment, threatening customer trust and exposing us to potential legal and financial issues
• The lack of effective governance and systemic solutions further exacerbated the problem, necessitating a robust strategy to elevate compliance standards

How We Made It Happen

Comprehensive Trend Analysis

• We conducted detailed weekly trend analysis to meticulously identify compliance trends and pinpoint specific areas requiring improvement
• This proactive approach allowed us to stay ahead of potential issues and implement timely corrective measures, ensuring that our compliance standards were consistently met and exceeded

Targeted Compliance Training

• We provided clear examples of compliance failures with actionable guidelines for correction
• These were reinforced through detailed briefs, requiring acknowledgment sign-off from all team members, ensuring everyone understood and upheld compliance standards and responsibilities

Rigorous Knowledge Checks

• We conducted impromptu assessments to ensure continuous learning and strict adherence to compliance standards
• These knowledge checks reinforced training, identified gaps in understanding, and provided immediate feedback
• This rigorous approach maintained high compliance awareness and accountability, fostering a culture of continuous improvement and excellence