DALBAR again recognizes Nationwide for service to retirement plan participants
As retirement plan participants faced an unexpected market crash in early 2020, many watched their nest eggs severely impacted for the first time in more than a decade. Nationwide heard from thousands of retirement plan participants weighing knee-jerk reactions that could have long-term consequences, including missing out on significant market gains that came later in the year.
“Our solutions centers saw unprecedented call volumes last year from plan participants worried about their retirement savings given the market volatility,” said Eric Stevenson, president of Nationwide Retirement Plans. "In this environment, participants are taking advantage of digital and mobile functionality now more than ever. At Nationwide, we excel at complementing our technical solutions with our people and this DALBAR award validates our high level of performance."
DALBAR, a financial services market research firm, recently announced that Nationwide Retirement Plans has earned the 2020 Plan Participant Service Award for outstanding telephone support to retirement plan participants. This is the seventh consecutive year in which Nationwide was recognized by DALBAR with this distinction.
“Last year presented financial uncertainties for many due to the pandemic and related volatility,” said Stevenson. “To receive this recognition from DALBAR for the seventh consecutive year is a testament to Nationwide’s continual commitment year after year to helping our plan participants stay focused on preparing for retirement. We demonstrate our outstanding support regardless of market, and—in 2020—, additional circumstances related to COVID-19.”
In order to earn this prestigious DALBAR award, companies must undergo a thorough and independent year-long audit looking at the quality of contact center interactions. Award eligibility is determined by a review of actual customer interactions against detailed criteria based on superior service standards and industry best practices. DALBAR’s criteria cover all aspects of the customer experience, including both the interpersonal relationship and the transactional elements. Despite the difficult environment for contact centers forced to adapt to the pandemic, Nationwide was held to the same high standards in 2020 as in years past.
“The DALBAR Service Award symbolizes the achievement of the highest tier of call center service to customers within the financial services industry,” said Brendan Yaeger, DALBAR Director. “It is awarded only to those firms that exceed industry norms in key service areas. The winners of this award are the service leaders within the financial services industry.”
More information about the award can be found in this DALBAR press release.
Additional information about Nationwide’s award-winning retirement plans can be found here.