Company: Toco Warranty, Los Angeles, CA
Company Description: Toco Warranty offers month-to-month breakdown protection against vehicle breakdowns. Toco’s easy, affordable, & stress-free solutions shield customers from unpredictable disruptions, protecting their assets, families, and budgets. Toco's emphasis on customer satisfaction, company culture, and community outreach create an industry-leading experience and legacy that goes beyond the point of sale.
Nomination Category: Customer Service & Call Center Awards Achievement Categories
Nomination Sub Category: Customer Service Training or Coaching Program of the Year - Business Services Industries
 Nomination Title: Invest to achieve the Best
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievement since July 1, 2020, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
“Many studies show that the total cost of losing an employee can range from tens of thousands of dollars to 1.5-2X annual salary.” (Josh Bersin)
The Great Resignation, the Big Quit, or the Great Reshuffle all define an era where employee resignation soared and sent businesses scrambling. Employees sought out companies that offered a better culture, career advancement, personal and professional growth opportunities, and a position where they felt valued. The post-pandemic job exodus offered unique challenges to businesses trying to find a way to keep the right people employed and scale business operations. Toco recognized that “business as usual” was no longer going to cut it and examined all of the approaches taken toward employee hiring, engagement, and retention.
- Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 200 words used.
Toco Warranty operates a call center that markets administers, and supports the sale of vehicle service contracts with a unique approach to the business, internally and externally. Toco’s core value “Do right by your Customer, Colleagues, and Company” provides a North Star in times of difficult decisions and maintains a level of integrity and commitment to employee and customer success.
Hiring: Most problems are solved by bringing in the right people from the start. Toco's Hiring Guide outlines Toco's strategy including the PRIOR method and training strategies.
Can they do the job?
Candidates must portray the skillset needed to excel in their given role. They must be able to accurately, efficiently, and effectively perform the basic job duties and tasks associated with their position, measured by past performance and a history of accomplishments.
Will they do the job?
Candidates must display a desire to be high-achieving, self-managing, and motivated toward greatness. Successful candidates have a student mindset, must be coachable, and demonstrate a start-up mentality that takes ownership of their position, actions, and results.
Are they a Culture Fit?
The most important of the three, the candidates must match the Toco ethos and be able to live Toco’s core values.
- Outline the nominated achievement since July 1 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 248 words used.
Re-recruiting
Toco continually re-recruits team members by nurturing personal and professional growth opportunities. Toco’s desire to promote from within and provide a career path for employees revolves around empowering them to control their own destinies. Employees who show engagement and desire to be great find themselves growing in the company.
Educational Tools
Toco provides employees with 2 hours a week to focus on personal and professional growth. Many businesses fear employee education because of the risk that comes with losing an employee who acquired new skills. Toco believes that if you do not provide those skills, you will lose them anyways or have uninspired employees who drag down the culture for others. Toco provides the time and tools to allow employees to engage in further education and equip them with materials from our Audible, Udemy, Trailhead, Harvard Business Review, and many trade publications.
Toco can proudly say that the employees who have attrition over the last year have gone on to higher paying and more skilled jobs because of the development skills they learned while working at Toco. Toco’s average length of service is over 7.38 years and Toco’s annual employee retention rate is over 95.32%.
Metrics
- 98.3% New Hire satisfaction survey rating (increase of 2.6%)
- 72.58% reduction in recruiting costs YOY (resulting from longer employee retention and less hiring needs)
- Employee Retention 95.32% (a 7.68% YOY increase)
- Length of Service increase to 7.38 years (an increase from 6.43%)
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 102 words used.
Conclusion:
Thank you for reviewing Toco's submission for Achievement in Customer Experience.
We believe this submission provides a high-level overview of Toco's company and products, mission/values/vision, YOY achievements, employee & customer experience, industry comparison, and supportive hyperlinks/ metrics/ attachments as evidence of our success.
Attachments Include:
- Toco Stevie Submission PowerPoint (Please review Notes Section of Presentation)
- Toco Mission/Vision/Values
- Employee and Customer Experience testimonials and reviews
- Competitor Comparison
- Toco Book Club Example (100M Offers, by Alex Hormonzi)
- Audible Library Example (50 of over 150)
- Udemy Library Example (Page 1)
- Toco Hiring Guide
Thank you for taking the time to review Toco Warranty’s submission.
- Explain why the achievement you have highlighted is unique or significant. If possible compare the achievement to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 241 words used.
Toco Book Club
Toco implemented a book club, promoting personal and professional growth amongst employees. Employees from all departments were mixed into small groups, providing different perspectives and experiences. Groups of 5-6 employees and 1 supervisor met weekly to discuss a reading assignment and have a group conversation about what they read and how they can implement it into their own personal and/or professional lives. Selected books range from business-heavy material such as management, marketing, sales, & service to more personal growth books such as leadership, self-care, history, culture, and screenwriting.
A program like this comes with certain risks, so Toco starts each session with a “safe-space” speech, reminding all participants that we are here to help each other grow, to keep criticism constructive, and to be accommodating to different opinions. Alongside purchasing a hard copy for more visual learners, we provided the company with our Audible library so that auditory learners could also participate to the fullest. Over 150 books are currently in the Toco library for employees to utilize.
Achievements
- 2021 and 2022 Gold Stevie Award winner for “Customer Service Training or Coaching Program of the Year- Business Services Industries”
- Highest Overall Rated Provider in the VSC Marketspace (Competitor Comparison Attached)
- Toco BBB: A+ Rating, Accredited, 39.13% reduction in complaints as new administrator
- Trustpilot: 4.6/5 stars and 455 reviews
- Consumer Affairs: 4.9/ 5 star rating and a Top Pick
- Motor1: Awarded the “Best Customer Support Award”
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