Study Data · Part 1 · Indicator Deep-Dive Analysis

What was the peak vendor team headcount on this engagement to date?

Indicator C041 · By Phil Hatch · Akholi · October 9, 2026

Indicator Specification

Table 1. Indicator specificationTable
FieldValue
Indicator codeC041
Question as askedWhat was the peak vendor team headcount on this engagement to date?
Failure categoryNot one of the 100 rated indicators
Place in the surveyEngagement Details > 2.3 Scale and Team > Headcount
Indicator classEngagement attribute
Indicator typeTyped number
Response scaleA number, as typed or recorded
Answering base787 of 850 respondents, across 150 of 150 engagements
Non-answersI do not know 0, I prefer to not answer 0, blank 63

Summary of Findings

Table 2. Key results: association of the indicator with the four study measuresTable
MeasureFormnr95% CIp
Cancellation rateDescriptive contrast150 engagements0.240.09 to 0.390.003
Customer satisfactionClean estimate94 engagements−0.10−0.30 to 0.100.322
Engagement indicator meanFull150 engagements−0.25−0.39 to −0.090.002
Intent to leaveRespondent level, clustered739 respondents0.230.09 to 0.370.002

Peak vendor team headcount (mean 10.5, median 10.0, n = 787 respondents) was associated with every study measure except customer satisfaction, which returned a tested null. Engagements with larger peak teams were canceled more often (r = 0.24, 95% CI 0.09 to 0.39, p 0.003, n = 150 engagements). Customer satisfaction on active engagements returned a tested null (TOST p 0.025). Larger peak teams came with a lower engagement indicator mean (r = −0.25, 95% CI −0.39 to −0.09, p 0.002, n = 150 engagements). Respondents on engagements with larger peak teams reported higher intent to leave (r = 0.23, cluster bootstrap 95% CI 0.09 to 0.37, p 0.002, n = 739 respondents). Headcount differed after Holm control by class of work (Welch F 10.10, Holm p 0.013, omega squared 0.058) and by engagement status and lifecycle stage (Welch F 4.78, Holm p 0.027, omega squared 0.059).

Distribution of Responses

Table 3. Distribution of responses, respondent levelTable
AnswerRespondentsShare of answered (base 787)Cumulative shareEngagements with at least oneShare of 150 engagementsDistressed
3.0 to 4.5101.27%1.27%32.00%Not applicable
4.5 to 6.0182.29%3.56%53.33%Not applicable
6.0 to 7.511114.10%17.66%2718.00%Not applicable
7.5 to 9.0283.56%21.22%64.00%Not applicable
9.0 to 10.523029.22%50.44%4530.00%Not applicable
10.5 to 12.010112.83%63.28%1812.00%Not applicable
12.0 to 13.517522.24%85.51%3020.00%Not applicable
13.5 to 15.0202.54%88.06%32.00%Not applicable
15.0 to 16.57910.04%98.09%117.33%Not applicable
16.5 to 18.0151.91%100.00%21.33%Not applicable
I do not know0Not in baseNot in base00.00%Not applicable
I prefer to not answer0Not in baseNot in base00.00%Not applicable
Answered, total787100.00%150100.00%
Table 4. Distribution of responses, engagement levelTable
Engagement level summaryEngagementsMean of engagement meansSDMinMedianMaxEngagements with a distressed meanShare of engagements distressed
Engagement means, as recorded15010.03.03.010.018.0Not applicableNot applicable

The study set mean was 10.5 on 787 answering respondents, with a median of 10.0.

Descriptive Statistics by Segment

Table 5a. Descriptive statistics by segment, part 1 of 2Table
SegmentBaseAnsweredAnswer rateEngagementsMean95% CISD
Study set85078792.59% of 85015010.510.3 to 10.72.9
Outsourcing model
CXM23221693.10% of 232429.99.6 to 10.32.6
ITO24422793.03% of 2444011.511.1 to 12.03.5
BPO20919191.39% of 2093710.410.1 to 10.72.2
KPO16515392.73% of 1653110.19.6 to 10.63.1
Institution type
Asset management13212393.18% of 1322410.19.6 to 10.62.8
Wealth management and private banking14012891.43% of 1402310.810.4 to 11.32.5
Investment banking (advisory and capital-markets origination)1059893.33% of 1051910.810.1 to 11.53.3
Insurance (life, property and casualty, health)787494.87% of 781410.19.6 to 10.52.0
Commercial and business banking827490.24% of 821312.511.6 to 13.33.6
Payments and merchant acquiring (networks, acquiring, processing)716895.77% of 71139.89.1 to 10.42.8
Credit card and payments issuing737095.89% of 731211.410.8 to 12.02.7
Retail and consumer banking736690.41% of 731211.611.0 to 12.12.2
Markets and trading (sales and trading, global markets)574985.96% of 57118.78.2 to 9.11.7
Private equity and private capital393794.87% of 3997.66.6 to 8.63.0
Process family
Corporate and back-office functions24822691.13% of 248479.49.1 to 9.72.5
Technology engineering and operations20419294.12% of 2043511.010.5 to 11.53.6
Client servicing and communications948893.62% of 941611.010.5 to 11.41.9
Trade, settlement and reconciliation807593.75% of 801510.29.6 to 10.82.5
Payments, cards and disputes736690.41% of 731211.310.9 to 11.61.5
Credit, underwriting and suitability575698.25% of 57911.610.8 to 12.43.0
Regulatory, audit, tax and legal514792.16% of 51911.110.0 to 12.34.0
Financial crime and client onboarding433786.05% of 43711.310.3 to 12.22.8
Class of work
LOB Operational45141792.46% of 4517611.210.9 to 11.42.5
Corporate Functional39937092.73% of 399749.89.5 to 10.23.2
Engagement status and lifecycle stage
Active, Build-Out17516795.43% of 1753110.09.7 to 10.42.2
Active, Transition/Cut-Over25023092.00% of 2504310.49.9 to 10.83.4
Active, Production1039188.35% of 103208.88.3 to 9.32.2
Canceled32229992.86% of 3225611.511.1 to 11.82.8
Respondent role
Individual Contributor66761191.60% of 66715010.710.4 to 10.92.9
Engagement Manager150150100.00% of 15015010.09.5 to 10.53.0
Portfolio Director312580.65% of 312510.9†3.4
Customer Management Executive211 of 21‡
Vendor type
IT services major31629192.09% of 3165910.39.9 to 10.63.0
BPO specialist19818392.42% of 1983710.610.2 to 11.02.7
Consulting firm11710892.31% of 1172310.19.6 to 10.73.0
Boutique or specialist provider878496.55% of 871710.810.1 to 11.42.8
Pure-play agentic AI firm757093.33% of 751411.310.5 to 12.03.2
Not reported, recovered by engagement575189.47% of 574211.310.5 to 12.23.1
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 5b. Descriptive statistics by segment, part 2 of 2Table
SegmentMinQ1MedianQ3MaxDistressed nDistressed %
Study set3.09.010.012.018.0Not applicableNot applicable
Outsourcing model
CXM3.09.010.011.016.0Not applicableNot applicable
ITO4.09.012.015.018.0Not applicableNot applicable
BPO3.010.011.012.014.0Not applicableNot applicable
KPO5.08.09.012.017.0Not applicableNot applicable
Institution type
Asset management5.09.010.012.016.0Not applicableNot applicable
Wealth management and private banking5.09.011.012.015.0Not applicableNot applicable
Investment banking (advisory and capital-markets origination)6.08.39.013.018.0Not applicableNot applicable
Insurance (life, property and casualty, health)6.09.010.012.013.0Not applicableNot applicable
Commercial and business banking5.010.013.016.017.0Not applicableNot applicable
Payments and merchant acquiring (networks, acquiring, processing)3.08.010.012.014.0Not applicableNot applicable
Credit card and payments issuing5.010.012.013.015.0Not applicableNot applicable
Retail and consumer banking9.010.011.013.016.0Not applicableNot applicable
Markets and trading (sales and trading, global markets)5.07.09.010.010.0Not applicableNot applicable
Private equity and private capital3.06.07.012.012.0Not applicableNot applicable
Process family
Corporate and back-office functions5.07.09.511.016.0Not applicableNot applicable
Technology engineering and operations3.09.011.014.018.0Not applicableNot applicable
Client servicing and communications8.09.011.012.015.0Not applicableNot applicable
Trade, settlement and reconciliation3.09.011.012.013.0Not applicableNot applicable
Payments, cards and disputes6.011.012.012.013.0Not applicableNot applicable
Credit, underwriting and suitability8.09.011.014.017.0Not applicableNot applicable
Regulatory, audit, tax and legal5.09.09.015.016.0Not applicableNot applicable
Financial crime and client onboarding6.010.011.012.016.0Not applicableNot applicable
Class of work
LOB Operational6.09.011.012.017.0Not applicableNot applicable
Corporate Functional3.07.010.012.018.0Not applicableNot applicable
Engagement status and lifecycle stage
Active, Build-Out5.09.010.012.013.0Not applicableNot applicable
Active, Transition/Cut-Over3.08.010.012.018.0Not applicableNot applicable
Active, Production4.07.09.010.012.0Not applicableNot applicable
Canceled3.010.012.013.516.0Not applicableNot applicable
Respondent role
Individual Contributor3.09.011.012.018.0Not applicableNot applicable
Engagement Manager3.08.010.012.018.0Not applicableNot applicable
Portfolio Director4.09.011.014.017.0Not applicableNot applicable
Customer Management Executive‡ n = 1
Vendor type
IT services major3.09.010.012.016.0Not applicableNot applicable
BPO specialist3.09.011.012.017.0Not applicableNot applicable
Consulting firm5.08.09.012.016.0Not applicableNot applicable
Boutique or specialist provider6.09.010.012.016.0Not applicableNot applicable
Pure-play agentic AI firm5.010.011.013.518.0Not applicableNot applicable
Not reported, recovered by engagement6.09.011.013.018.0Not applicableNot applicable
Note: ‡ Base under 10. No statistic is reported.

Figures are respondent level. Means are on the scale as recorded. A level under 30 prints no interval and a level under 10 prints counts only.

Tests of Difference Between Segments

Table 6a. Tests of difference between segments, part 1 of 2Table
Segment familyWelch FdfpHolm pOmega squared90% CI
Outsourcing model1.423, 78.30.2440.2440.0160.000 to 0.081
Institution type2.148, 49.90.0480.1810.0400.000 to 0.128
Process family3.504, 41.60.0150.0740.0340.000 to 0.120
Class of work10.101, 137.60.0020.0130.0580.015 to 0.136
Engagement status and lifecycle stage4.783, 66.40.0040.0270.0590.012 to 0.140
Respondent role2.962, 60.30.0590.1810.0050.000 to 0.020
Vendor type2.315, 228.50.0450.1810.0100.001 to 0.028
Table 6b. Tests of difference between segments, part 2 of 2Table
Segment familyKruskal-Wallis HpDistressed chi-squaredfpCramer’s VLevels left out
Outsourcing model6.530.088Not applicableNot applicableNone
Institution type12.750.121Not applicableNot applicablea
Process family10.830.029Not applicableNot applicableb
Class of work9.880.002Not applicableNot applicableNone
Engagement status and lifecycle stage12.550.006Not applicableNot applicableNone
Respondent role5.570.062Not applicableNot applicablec
Vendor type14.060.015Not applicableNot applicableNone
Note: a Private equity and private capital, n = 9. b Credit, underwriting and suitability, n = 9, Regulatory, audit, tax and legal, n = 9, Financial crime and client onboarding, n = 7. c Customer Management Executive, n = 1.

Engagement families were tested on engagement means, and respondent role and vendor type were tested on respondents. A distressed p marked exact is a Fisher exact test for a two by two table, and one marked simulated is a Monte Carlo test run until its p is stable to the third decimal, both used where an expected count is under 5. Class of work differed after Holm control (Welch F 10.10, Holm p 0.013, tested on engagement means). In Descriptive Statistics by Segment, LOB Operational had the highest mean, 11.2 (n = 417 respondents), and Corporate Functional the lowest, 9.8 (n = 370 respondents). Engagement status and lifecycle stage differed after Holm control (Welch F 4.78, Holm p 0.027, tested on engagement means). In Descriptive Statistics by Segment, Canceled had the highest mean, 11.5 (n = 299 respondents), and Active, Production the lowest, 8.8 (n = 91 respondents). No difference held after Holm control for outsourcing model, institution type, process family, respondent role and vendor type.

Association with Cancellation Rate

The share of engagements canceled on the study date, measured at engagement level (base 150 engagements, 56 canceled). The association is a descriptive contrast, inflated because canceled engagements were rated after cancellation, and is not predictive.

Table 7a. Association with cancellation rate by segment, part 1 of 2Table
SegmentEngagementsCanceledCancellation ratePoint-biserial r95% CIpHolm p
Study set1505637.33% of 1500.240.09 to 0.390.0030.054
Outsourcing model
CXM421535.71% of 420.03−0.28 to 0.330.8601.000
ITO401537.50% of 400.29−0.03 to 0.550.0721.000
BPO371437.84% of 370.380.07 to 0.630.0190.340
KPO311238.71% of 310.32−0.03 to 0.610.0761.000
Institution type
Asset management241354.17% of 240.20†0.3421.000
Wealth management and private banking23834.78% of 230.39†0.0650.969
Investment banking (advisory and capital-markets origination)19947.37% of 190.14†0.5801.000
Insurance (life, property and casualty, health)14535.71% of 140.10†0.7371.000
Commercial and business banking13430.77% of 130.01†0.9731.000
Payments and merchant acquiring (networks, acquiring, processing)13323.08% of 130.22†0.4691.000
Credit card and payments issuing12541.67% of 120.64†0.0240.410
Retail and consumer banking12433.33% of 120.59†0.0460.730
Markets and trading (sales and trading, global markets)11327.27% of 110.41†0.2091.000
Private equity and private capital922 of 9‡
Process family
Corporate and back-office functions471940.43% of 470.420.15 to 0.630.0030.070
Technology engineering and operations351028.57% of 350.15−0.19 to 0.460.3801.000
Client servicing and communications16956.25% of 160.05†0.8651.000
Trade, settlement and reconciliation15853.33% of 150.40†0.1401.000
Payments, cards and disputes12216.67% of 120.37†0.2351.000
Credit, underwriting and suitability911 of 9‡
Regulatory, audit, tax and legal944 of 9‡
Financial crime and client onboarding733 of 7‡
Class of work
LOB Operational763039.47% of 760.20−0.03 to 0.410.0811.000
Corporate Functional742635.14% of 740.280.05 to 0.480.0160.312
Engagement status and lifecycle stage
Active, Build-Out3100.00% of 31Not computable, no variation in cancellation
Active, Transition/Cut-Over4300.00% of 43Not computable, no variation in cancellation
Active, Production2000.00% of 20Not computable, no variation in cancellation
Canceled5656100.00% of 56Not computable, no variation in cancellation
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 7b. Association with cancellation rate by segment, part 2 of 2Table
SegmentOdds ratio per point95% CIAUCRate, distressed engagementsRate, other engagementsFisher pTOST p
Study set1.201.06 to 1.350.65Not applicableNot applicableNot applicable0.234
Outsourcing model
CXM1.020.80 to 1.310.50Not applicableNot applicableNot applicable0.039
ITO1.200.98 to 1.470.68Not applicableNot applicableNot applicable0.468
BPO1.561.04 to 2.350.74Not applicableNot applicableNot applicable0.711
KPO1.280.96 to 1.690.71Not applicableNot applicableNot applicable0.555
Institution type
Asset management1.17† n = 240.64Not applicableNot applicableNot applicable0.317
Wealth management and private banking1.44† n = 230.72Not applicableNot applicableNot applicable0.679
Investment banking (advisory and capital-markets origination)1.09† n = 190.61Not applicableNot applicableNot applicable0.245
Insurance (life, property and casualty, health)1.11† n = 140.58Not applicableNot applicableNot applicable0.242
Commercial and business banking1.01† n = 130.51Not applicableNot applicableNot applicable0.172
Payments and merchant acquiring (networks, acquiring, processing)1.22† n = 130.62Not applicableNot applicableNot applicable0.394
Credit card and payments issuing3.95† n = 120.90Not applicableNot applicableNot applicable0.913
Retail and consumer banking2.18† n = 120.81Not applicableNot applicableNot applicable0.860
Markets and trading (sales and trading, global markets)2.55† n = 110.73Not applicableNot applicableNot applicable0.640
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functions1.521.11 to 2.090.72Not applicableNot applicableNot applicable0.816
Technology engineering and operations1.100.90 to 1.350.61Not applicableNot applicableNot applicable0.190
Client servicing and communications1.05† n = 160.50Not applicableNot applicableNot applicable0.171
Trade, settlement and reconciliation1.42† n = 150.74Not applicableNot applicableNot applicable0.653
Payments, cards and disputes7.19† n = 120.90Not applicableNot applicableNot applicable0.595
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB Operational1.190.98 to 1.440.62Not applicableNot applicableNot applicable0.184
Corporate Functional1.211.03 to 1.430.68Not applicableNot applicableNot applicable0.420
Engagement status and lifecycle stage
Active, Build-OutNot computable, no variation in cancellation
Active, Transition/Cut-OverNot computable, no variation in cancellation
Active, ProductionNot computable, no variation in cancellation
CanceledNot computable, no variation in cancellation
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was 0.24 (95% CI 0.09 to 0.39, Holm p 0.054, n = 150 engagements). The association did not hold after Holm control. The primary test in Comparison of Associations Across the Four Measures gave p 0.003 before Holm control, so the association held before that control. Of the 20 tested segment levels, 0 held after Holm control.

Association with Customer Satisfaction

The satisfaction score recorded against each engagement on a 100-point scale. The primary estimate uses the 94 active engagements. A descriptive contrast uses all 150 engagements.

Table 8a. Association with customer satisfaction by segment, part 1 of 2Table
SegmentActive engagementsClean r95% CIpHolm pSpearman rhop
Study set94−0.10−0.30 to 0.100.3221.000−0.060.543
Outsourcing model
CXM27−0.15†0.4481.000−0.120.562
ITO25−0.12†0.5791.000−0.120.564
BPO230.18†0.4051.0000.180.413
KPO19−0.37†0.1221.000−0.320.182
Institution type
Asset management110.19†0.5771.0000.160.646
Wealth management and private banking15−0.01†0.9601.0000.030.918
Investment banking (advisory and capital-markets origination)100.33†0.3471.0000.290.416
Insurance (life, property and casualty, health)9‡
Commercial and business banking9‡
Payments and merchant acquiring (networks, acquiring, processing)10−0.36†0.3001.000−0.660.038
Credit card and payments issuing7‡
Retail and consumer banking8‡
Markets and trading (sales and trading, global markets)8‡
Private equity and private capital7‡
Process family
Corporate and back-office functions28−0.25†0.1981.000−0.170.401
Technology engineering and operations25−0.05†0.7971.000−0.080.714
Client servicing and communications7‡
Trade, settlement and reconciliation7‡
Payments, cards and disputes10−0.73†0.0180.299−0.420.229
Credit, underwriting and suitability8‡
Regulatory, audit, tax and legal5‡
Financial crime and client onboarding4‡
Class of work
LOB Operational46−0.07−0.36 to 0.220.6321.000−0.010.955
Corporate Functional48−0.13−0.40 to 0.160.3631.000−0.150.297
Engagement status and lifecycle stage
Active, Build-Out310.01−0.34 to 0.360.9541.0000.090.643
Active, Transition/Cut-Over43−0.11−0.40 to 0.200.4861.000−0.090.574
Active, Production20−0.12†0.6051.000−0.110.640
Canceled0a
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a No clean estimate, canceled engagements fall outside the active population.
Table 8b. Association with customer satisfaction by segment, part 2 of 2Table
SegmentSlope, points per rating point95% CIR squaredTOST pAll engagementsDescriptive rp
Study set−0.42−1.27 to 0.420.010.025150−0.260.001
Outsourcing model
CXM−0.93† n = 270.020.22342−0.050.734
ITO−0.32† n = 250.010.18340−0.330.039
BPO0.79† n = 230.030.28837−0.320.057
KPO−1.63† n = 190.140.61931−0.410.020
Institution type
Asset management0.57† n = 110.040.36924−0.180.388
Wealth management and private banking−0.05† n = 150.000.15323−0.390.062
Investment banking (advisory and capital-markets origination)1.11† n = 100.110.53919−0.030.900
Insurance (life, property and casualty, health)‡ n = 9
Commercial and business banking‡ n = 9
Payments and merchant acquiring (networks, acquiring, processing)−1.79† n = 100.130.57613−0.340.257
Credit card and payments issuing‡ n = 7
Retail and consumer banking‡ n = 8
Markets and trading (sales and trading, global markets)‡ n = 8
Private equity and private capital‡ n = 7
Process family
Corporate and back-office functions−1.76† n = 280.060.39547−0.430.002
Technology engineering and operations−0.16† n = 250.000.11635−0.170.322
Client servicing and communications‡ n = 7
Trade, settlement and reconciliation‡ n = 7
Payments, cards and disputes−4.59† n = 100.530.94612−0.620.032
Credit, underwriting and suitability‡ n = 8
Regulatory, audit, tax and legal‡ n = 5
Financial crime and client onboarding‡ n = 4
Class of work
LOB Operational−0.40−2.06 to 1.260.010.06076−0.210.062
Corporate Functional−0.46−1.47 to 0.550.020.12174−0.290.011
Engagement status and lifecycle stage
Active, Build-Out0.04−1.53 to 1.620.000.057310.010.954
Active, Transition/Cut-Over−0.42−1.64 to 0.790.010.10343−0.110.486
Active, Production−0.63†0.020.22220−0.120.605
Canceledno clean estimate, canceled engagements fall outside the active population
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.10 (95% CI −0.30 to 0.10, Holm p 1.000, n = 94 engagements). The association did not hold after Holm control. Equivalence Tests of Null Results found it equivalent to zero inside the bound. Of the 16 tested segment levels, 0 held after Holm control.

Association with the Engagement Indicator Mean

The mean of an engagement’s 100 indicator ratings, measured at engagement level (base 150 engagements). Where this indicator is one of the 100, the mean is recomputed without it.

Table 9a. Association with the engagement indicator mean by segment, part 1 of 2Table
SegmentEngagementsLeave-one-out r95% CIpHolm pSpearman rhop
Study set150−0.25−0.39 to −0.090.0020.057−0.250.002
Outsourcing model
CXM42−0.01−0.32 to 0.290.9281.0000.010.935
ITO40−0.38−0.62 to −0.070.0170.331−0.370.018
BPO37−0.17−0.47 to 0.160.3011.000−0.200.236
KPO31−0.46−0.70 to −0.130.0090.204−0.500.004
Institution type
Asset management24−0.15†0.4951.000−0.210.332
Wealth management and private banking23−0.36†0.0921.000−0.270.215
Investment banking (advisory and capital-markets origination)19−0.30†0.2151.000−0.410.083
Insurance (life, property and casualty, health)140.04†0.8981.000−0.110.719
Commercial and business banking13−0.12†0.6901.000−0.140.653
Payments and merchant acquiring (networks, acquiring, processing)13−0.23†0.4431.000−0.350.236
Credit card and payments issuing12−0.68†0.0150.318−0.630.028
Retail and consumer banking12−0.55†0.0631.000−0.530.074
Markets and trading (sales and trading, global markets)11−0.22†0.5251.000−0.320.332
Private equity and private capital9‡
Process family
Corporate and back-office functions47−0.35−0.58 to −0.070.0170.331−0.370.010
Technology engineering and operations35−0.25−0.54 to 0.090.1421.000−0.250.142
Client servicing and communications160.01†0.9581.0000.110.682
Trade, settlement and reconciliation15−0.13†0.6541.000−0.290.301
Payments, cards and disputes12−0.76†0.0040.100−0.530.075
Credit, underwriting and suitability9‡
Regulatory, audit, tax and legal9‡
Financial crime and client onboarding7‡
Class of work
LOB Operational76−0.22−0.42 to 0.010.0621.000−0.200.086
Corporate Functional74−0.28−0.48 to −0.060.0140.318−0.300.009
Engagement status and lifecycle stage
Active, Build-Out31−0.03−0.38 to 0.320.8561.0000.000.997
Active, Transition/Cut-Over43−0.19−0.46 to 0.120.2291.000−0.200.190
Active, Production20−0.24†0.3111.000−0.150.532
Canceled560.03−0.23 to 0.290.8201.0000.000.975
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 9b. Association with the engagement indicator mean by segment, part 2 of 2Table
Segmentr with indicator includedChange in rSlope95% CIR squaredTOST pEquivalent
Study setNot a component−0.12−0.20 to −0.040.060.245No
Outsourcing model
CXMNot a component−0.01−0.21 to 0.200.000.033Yes
ITONot a component−0.13−0.24 to −0.030.140.701No
BPONot a component−0.09−0.28 to 0.090.030.219No
KPONot a component−0.26−0.45 to −0.070.210.843No
Institution type
Asset managementNot a component−0.08† n = 240.020.229No
Wealth management and private bankingNot a component−0.20† n = 230.130.617No
Investment banking (advisory and capital-markets origination)Not a component−0.10† n = 190.090.497No
Insurance (life, property and casualty, health)Not a component0.03† n = 140.000.184No
Commercial and business bankingNot a component−0.05† n = 130.020.278No
Payments and merchant acquiring (networks, acquiring, processing)Not a component−0.13† n = 130.050.410No
Credit card and payments issuingNot a component−0.30† n = 120.460.940No
Retail and consumer bankingNot a component−0.43† n = 120.300.824No
Markets and trading (sales and trading, global markets)Not a component−0.19† n = 110.050.399No
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functionsNot a component−0.23−0.42 to −0.040.120.637No
Technology engineering and operationsNot a component−0.09−0.21 to 0.030.060.387No
Client servicing and communicationsNot a component0.01† n = 160.000.144No
Trade, settlement and reconciliationNot a component−0.06† n = 150.020.264No
Payments, cards and disputesNot a component−0.56† n = 120.580.980No
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB OperationalNot a component−0.13−0.27 to 0.010.050.218No
Corporate FunctionalNot a component−0.13−0.23 to −0.030.080.439No
Engagement status and lifecycle stage
Active, Build-OutNot a component−0.02−0.19 to 0.160.000.072No
Active, Transition/Cut-OverNot a component−0.07−0.18 to 0.050.040.224No
Active, ProductionNot a component−0.14† n = 200.060.393No
CanceledNot a component0.01−0.05 to 0.060.000.021Yes
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was −0.25 (95% CI −0.39 to −0.09, Holm p 0.057, n = 150 engagements). The association did not hold after Holm control. The primary test in Comparison of Associations Across the Four Measures gave p 0.002 before Holm control, so the association held before that control. Of the 24 tested segment levels, 0 held after Holm control.

Association with Intent to Leave

The respondent’s stated likelihood of leaving the current job within 12 months, rated 1 to 10 (C019). Measured at respondent level on up to 798 respondents, with the engagement-level form reported alongside.

Table 10a. Association with intent to leave by segment, part 1 of 2Table
SegmentRespondentsr95% CICluster bootstrap 95% CIpHolm p
Study set7390.230.16 to 0.300.09 to 0.37< 0.001< 0.001
Outsourcing model
CXM2020.140.01 to 0.28−0.18 to 0.420.0410.614
ITO2160.160.03 to 0.29−0.12 to 0.440.0190.306
BPO1780.250.10 to 0.38−0.02 to 0.49< 0.0010.023
KPO1430.430.28 to 0.550.10 to 0.67< 0.001< 0.001
Institution type
Asset management1130.04−0.14 to 0.23−0.39 to 0.570.6431.000
Wealth management and private banking1200.400.23 to 0.540.01 to 0.66< 0.001< 0.001
Investment banking (advisory and capital-markets origination)920.07−0.13 to 0.27−0.27 to 0.460.4961.000
Insurance (life, property and casualty, health)680.14−0.10 to 0.36−0.43 to 0.680.2651.000
Commercial and business banking680.320.09 to 0.52−0.27 to 0.690.0080.155
Payments and merchant acquiring (networks, acquiring, processing)660.440.23 to 0.62−0.03 to 0.79< 0.0010.005
Credit card and payments issuing680.600.43 to 0.740.17 to 0.85< 0.001< 0.001
Retail and consumer banking610.490.27 to 0.66−0.27 to 0.85< 0.0010.002
Markets and trading (sales and trading, global markets)470.05−0.24 to 0.33−0.39 to 0.590.7511.000
Private equity and private capital360.430.12 to 0.67§ n = 90.0080.155
Process family
Corporate and back-office functions2060.460.34 to 0.560.24 to 0.62< 0.001< 0.001
Technology engineering and operations1820.10−0.05 to 0.24−0.22 to 0.410.2001.000
Client servicing and communications840.07−0.14 to 0.28−0.40 to 0.450.5101.000
Trade, settlement and reconciliation700.12−0.12 to 0.34−0.30 to 0.540.3381.000
Payments, cards and disputes640.550.36 to 0.700.21 to 0.78< 0.001< 0.001
Credit, underwriting and suitability520.420.16 to 0.62§ n = 90.0020.046
Regulatory, audit, tax and legal450.290.00 to 0.54§ n = 90.0530.622
Financial crime and client onboarding360.590.32 to 0.77§ n = 7< 0.0010.004
Class of work
LOB Operational3920.180.08 to 0.27−0.04 to 0.38< 0.0010.011
Corporate Functional3470.280.18 to 0.370.07 to 0.46< 0.001< 0.001
Engagement status and lifecycle stage
Active, Build-Out159−0.12−0.27 to 0.04−0.49 to 0.250.1331.000
Active, Transition/Cut-Over2180.130.00 to 0.26−0.17 to 0.390.0500.622
Active, Production840.260.05 to 0.45−0.22 to 0.600.0160.268
Canceled278−0.03−0.14 to 0.09−0.15 to 0.100.6771.000
Respondent role
Individual Contributor5640.220.14 to 0.300.08 to 0.37< 0.001< 0.001
Engagement Manager1500.220.06 to 0.360.07 to 0.360.0080.155
Portfolio Director250.40††0.0480.622
Customer Management Executive0‡
Vendor type
IT services major2790.120.00 to 0.23−0.15 to 0.380.0440.622
BPO specialist1680.220.07 to 0.36−0.06 to 0.490.0040.086
Consulting firm1010.400.22 to 0.55−0.04 to 0.72< 0.0010.001
Boutique or specialist provider760.310.09 to 0.50−0.12 to 0.630.0070.144
Pure-play agentic AI firm670.410.19 to 0.590.02 to 0.69< 0.0010.014
Not reported, recovered by engagement480.17−0.12 to 0.43−0.16 to 0.530.2471.000
Note: § Too few engagements for a cluster bootstrap interval. † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.
Table 10b. Association with intent to leave by segment, part 2 of 2Table
SegmentSpearman rhopShare at 7 or above, distressedShare at 7 or above, otherEngagementsEngagement level r95% CITOST p
Study set0.23< 0.001Not applicableNot applicable1500.240.08 to 0.380.207
Outsourcing model
CXM0.090.229Not applicableNot applicable420.09−0.22 to 0.380.082
ITO0.180.007Not applicableNot applicable400.19−0.13 to 0.470.238
BPO0.28< 0.001Not applicableNot applicable370.23−0.10 to 0.520.337
KPO0.40< 0.001Not applicableNot applicable310.480.16 to 0.720.876
Institution type
Asset management0.080.419Not applicableNot applicable240.16†0.242
Wealth management and private banking0.32< 0.001Not applicableNot applicable230.44†0.769
Investment banking (advisory and capital-markets origination)0.100.334Not applicableNot applicable190.06†0.160
Insurance (life, property and casualty, health)0.140.247Not applicableNot applicable140.14†0.285
Commercial and business banking0.40< 0.001Not applicableNot applicable130.24†0.414
Payments and merchant acquiring (networks, acquiring, processing)0.52< 0.001Not applicableNot applicable130.40†0.639
Credit card and payments issuing0.58< 0.001Not applicableNot applicable120.67†0.933
Retail and consumer banking0.49< 0.001Not applicableNot applicable120.52†0.783
Markets and trading (sales and trading, global markets)0.000.997Not applicableNot applicable110.07†0.246
Private equity and private capital0.470.004Not applicableNot applicable9‡‡
Process family
Corporate and back-office functions0.43< 0.001Not applicableNot applicable470.430.17 to 0.640.847
Technology engineering and operations0.120.117Not applicableNot applicable350.08−0.26 to 0.400.097
Client servicing and communications0.040.745Not applicableNot applicable160.04†0.169
Trade, settlement and reconciliation0.190.124Not applicableNot applicable150.14†0.282
Payments, cards and disputes0.57< 0.001Not applicableNot applicable120.60†0.874
Credit, underwriting and suitability0.350.012Not applicableNot applicable9‡‡
Regulatory, audit, tax and legal0.330.027Not applicableNot applicable9‡‡
Financial crime and client onboarding0.520.001Not applicableNot applicable7‡‡
Class of work
LOB Operational0.160.001Not applicableNot applicable760.19−0.03 to 0.400.166
Corporate Functional0.29< 0.001Not applicableNot applicable740.280.05 to 0.480.421
Engagement status and lifecycle stage
Active, Build-Out−0.190.016Not applicableNot applicable31−0.07−0.42 to 0.290.107
Active, Transition/Cut-Over0.080.217Not applicableNot applicable430.11−0.19 to 0.400.107
Active, Production0.220.040Not applicableNot applicable200.24†0.386
Canceled−0.020.721Not applicableNot applicable56−0.02−0.28 to 0.240.018
Respondent role
Individual Contributor0.22< 0.001Not applicableNot applicable1500.240.08 to 0.390.218
Engagement Manager0.220.007Not applicableNot applicable1500.220.06 to 0.360.139
Portfolio Director0.340.092Not applicableNot applicable250.40†0.703
Customer Management Executive‡ n = 0
Vendor type
IT services major0.100.083Not applicableNot applicable590.14−0.12 to 0.380.104
BPO specialist0.240.002Not applicableNot applicable370.21−0.13 to 0.500.280
Consulting firm0.34< 0.001Not applicableNot applicable230.44†0.773
Boutique or specialist provider0.280.015Not applicableNot applicable170.22†0.375
Pure-play agentic AI firm0.46< 0.001Not applicableNot applicable140.34†0.558
Not reported, recovered by engagement0.210.161Not applicableNot applicable400.26−0.05 to 0.530.400
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The study set r was 0.23 (95% CI 0.16 to 0.30, Holm p < 0.001, n = 739 respondents). Of the 37 tested segment levels, 15 held after Holm control.

Comparison of Associations Across the Four Measures

Table 11. Associations across the four measuresTable
MeasureFormUnitnr95% CIpEquivalent to zeroRank among the four
Cancellation rateDescriptive contrastEngagement1500.240.09 to 0.390.003No2
Customer satisfactionClean estimateEngagement94−0.10−0.30 to 0.100.322Yes4
Engagement indicator meanFullEngagement150−0.25−0.39 to −0.090.002No1
Intent to leaveRespondent level, clusteredRespondent7390.230.09 to 0.370.002No3
Table 12. Pairwise comparison of associationsTable
Pair comparedDifference in rSteiger zpHolm pReading
Cancellation rate and customer satisfaction0.010.500.6171.000Do not differ
Cancellation rate and engagement indicator mean0.000.040.9651.000Do not differ
Cancellation rate and intent to leave−0.01−0.130.8981.000Do not differ
Customer satisfaction and engagement indicator mean−0.01−0.260.7931.000Do not differ
Customer satisfaction and intent to leave−0.02−0.560.5741.000Do not differ
Engagement indicator mean and intent to leave−0.01−0.200.8431.000Do not differ

Pairs were compared on the engagement level form of every measure, each turned so that a higher value was the better outcome, on the 150 engagements where the indicator and all four measures existed. Of the 6 pairs, 0 differed after Holm control.

Clustering and Effective Sample Size

Table 13. Clustering and effective sample sizeTable
StatisticValueReading
Clusters (engagements)150Engagements with at least one answer.
Mean respondents per engagement5.2Answers per engagement with at least one answer.
ICC(1)1.00Share of variance between engagements.
Design effect5.251 plus (mean cluster size minus 1) times ICC.
Nominal respondent n787Respondents who answered.
Effective n150Nominal n divided by the design effect.
Cluster bootstrap appliedYesApplied to every respondent level CI where the ICC is 0.05 or above.

Clustering reduced the 787 respondent answers to about 150 independent answers. Respondent level intervals therefore used the cluster bootstrap, and respondent level tests on intent to leave used cluster-robust errors.

Equivalence Tests of Null Results

Table 14. Equivalence tests of null resultsTable
MeasurenrEquivalence boundTOST p, lowerTOST p, upperEquivalent to zeroAchieved powerMDE at power 0.80Detection floor for this n
Cancellation rate1500.24|r| < 0.30< 0.0010.234No0.960.230.23
Customer satisfaction94−0.10|r| < 0.300.025< 0.001Yes0.840.290.23
Engagement indicator mean150−0.25|r| < 0.300.245< 0.001No0.960.230.23
Intent to leave739, effective 1400.23|r| < 0.30< 0.0010.194No0.950.230.23

Tested null, equivalent to zero: customer satisfaction. No result was inconclusive. The detection floor column is the study floor at 150 engagements. Intent to leave was tested on its effective n.

Robustness Checks

Table 15. Robustness checksTable
CheckMeasurePrimary rCheck r95% CIChangeConclusion holds
Rank correlation in place of PearsonCancellation rate0.240.26a0.01Yes
Rank correlation in place of PearsonCustomer satisfaction−0.10−0.06a0.04Yes
Rank correlation in place of PearsonEngagement indicator mean−0.25−0.25a0.00Yes
Rank correlation in place of PearsonIntent to leave0.230.23a−0.01Yes
Non-answers excluded, then imputed at the engagement meanIntent to leave0.230.23a0.00Yes
Active engagements onlyEngagement indicator mean−0.25−0.15−0.35 to 0.050.09No
Active engagements onlyIntent to leave0.230.090.00 to 0.18−0.14No
Most influential engagement removed (largest Cook’s distance)Cancellation rate0.240.270.12 to 0.410.03Yes
Most influential engagement removed (largest Cook’s distance)Customer satisfaction−0.10−0.06−0.26 to 0.150.05Yes
Most influential engagement removed (largest Cook’s distance)Engagement indicator mean−0.25−0.27−0.41 to −0.12−0.02Yes
Most influential engagement removed (largest Cook’s distance)Intent to leave0.230.240.18 to 0.310.01Yes
Engagements weighted by respondent countCancellation rate0.240.25a0.00Yes
Engagements weighted by respondent countCustomer satisfaction−0.10−0.10a0.00Yes
Engagements weighted by respondent countEngagement indicator mean−0.25−0.24a0.01Yes
Bootstrap of engagementsCancellation rate0.240.250.08 to 0.400.00Yes
Bootstrap of engagementsCustomer satisfaction−0.10−0.10−0.29 to 0.100.00Yes
Bootstrap of engagementsEngagement indicator mean−0.25−0.25−0.39 to −0.100.00Yes
Bootstrap of engagementsIntent to leave0.230.230.09 to 0.370.00Yes
Thin-base segments removedCancellation rate0.240.240.03 to 0.440.00Yes
Thin-base segments removedCustomer satisfaction−0.10−0.10−0.36 to 0.180.01Yes
Thin-base segments removedEngagement indicator mean−0.25−0.25−0.45 to −0.04−0.01Yes
Thin-base segments removedIntent to leave0.230.220.13 to 0.32−0.01Yes
Note: a No interval for this check.

Each change was computed before rounding, so it can differ by 0.01 from the difference of the two printed values.

Checks that did not hold: “Active engagements only” on engagement indicator mean and “Active engagements only” on intent to leave. A check holds when its test lands on the same side of 0.05 as the primary test and, where the primary test is below 0.05, its r keeps the primary sign. Thin-base rule: engagements in any level under 30 engagements of outsourcing model or process family removed. Institution type is not used, because every one of its levels is under 30.

Measure Independence and Part-Whole Correction

Each of the four measures was computed from data this indicator does not contain, so each result is a finding rather than an arithmetic consequence.

Comparison with the Study Norm

Table 16. Comparison with the study normTable
MeasureThis indicator, oriented rStudy median, oriented rDeviationFisher zpHolm p
Cancellation rate−0.240.60−0.84−11.39< 0.001< 0.001
Customer satisfaction−0.260.72−0.98−14.20< 0.001< 0.001
Engagement indicator mean−0.250.84−1.08−17.72< 0.001< 0.001
Intent to leave−0.240.71−0.95−13.74< 0.001< 0.001
Spread of deviations0.24
VerdictDIVERGENT

Each deviation was computed before rounding, so it can differ by 0.01 from the difference of the two printed values.

The comparison ran on 150 engagements. The indicator departed from the study’s typical pattern on cancellation rate, customer satisfaction, engagement indicator mean and intent to leave.

Interpretation of the Data

LOB Operational respondents reported larger peak teams (mean 11.2, n = 417 respondents) than Corporate Functional respondents did (mean 9.8, n = 370 respondents). Canceled engagements had the largest peak teams (mean 11.5, n = 299 respondents), and Active, Production had the smallest (mean 8.8, n = 91 respondents).

Limitations

The evidence is reported experience: what the delivery team said about its own engagement, gathered in one cross-section. The figures showed associations, not causes. Indicators about the financial institution were reported at second hand by vendor staff. Cancellation is a descriptive contrast, because canceled engagements were rated after they ended.

Tests across respondent role and vendor type were run at respondent level and treated respondents as independent. The section Clustering and Effective Sample Size states whether, and by how much, clustering within engagements reduced the information in respondent level figures.

20 of 22 checks held. The active-engagements-only check did not hold for the engagement indicator mean or for intent to leave. Answers matched within engagements, so the item carried about one independent answer per engagement (ICC 1.00, 787 answers worth about 150 independent answers).

Definitions

Table 17. DefinitionsTable
TermDefinition
Response scaleAs recorded, shown in Table 1. The indicator is not a rating, so no distressed range is defined.
Answering baseRespondents who entered a value.
Non-answers“I do not know” and “I prefer to not answer” are counted separately and are excluded from the mean.
Indicator classEngagement attribute: a property of the engagement rather than of the respondent.
Failure categoryOne of the five failure categories of the Study Taxonomy, section 3. Only the 100 rated indicators carry one, and the indicator is not among them.
Engagement indicator meanThe mean of an engagement’s 100 indicator ratings.

Sources and Provenance

Table 18. Sources and provenanceTable
ItemValue
Study dataStudy Data.xlsx, Data sheet, column C041, sha256 219eba0457274d04
Statistics enginecompute_statistics.py, sha256 738319eef764602b
Statistics recordComputed Statistics.json, record C041, sha256 e405f65a43e37a6e
ComputedOctober 8, 2026, 01:38 UTC
TemplateIndicator Statistical Analysis Template, version 1.1 of 2026-10-06
Figures placed by script2,057 of 2,057

Continue the report

Executive summary →
Overview

Executive Summary

Four findings from 150 engagements

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Introduction

Introduction

Scope, evidence, and how the report is organized

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Part 1

Engagement Outcomes

Poor results on every measure, and what separates them

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Part 2

The Five Failure Categories

Where failure concentrates, category by category

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Part 3

Governance, Oversight, and Control

Controls that existed in name only

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Part 4

The Delivery Workforce

Early in their careers, dissatisfied, and many intending to leave

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Part 5

Manual Alteration

How the delivery team altered the work to sustain it

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Part 6

Executive Action Plan

Seven immediate actions and a first-year plan

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Appendices

Appendices

Definitions, indicator inventory, method, and disclosures

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Data

Study Data

Deep-dive analyses of the study indicators, published in stages

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