Working directly for a bank would be better than working for an outsourcing vendor
Indicator C028 · By Phil Hatch · Akholi · October 9, 2026
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19 sectionsIndicator Specification
| Field | Value |
|---|---|
| Indicator code | C028 |
| Question as asked | Working directly for a bank would be better than working for an outsourcing vendor. |
| Failure category | Not one of the 100 rated indicators |
| Place in the survey | Respondent Demographics > 1.3 Sentiment and Retention > Career Direction |
| Indicator class | Respondent level |
| Indicator type | Directional, DIR |
| Response scale | 1 to 10, with no good or bad end |
| Answering base | 802 of 850 respondents, across 150 of 150 engagements |
| Non-answers | I do not know 0, I prefer to not answer 0, blank 48 |
Summary of Findings
| Measure | Form | n | r | 95% CI | p |
|---|---|---|---|---|---|
| Cancellation rate | Descriptive contrast | 150 engagements | 0.59 | 0.48 to 0.69 | < 0.001 |
| Customer satisfaction | Clean estimate | 94 engagements | −0.73 | −0.82 to −0.62 | < 0.001 |
| Engagement indicator mean | Full | 150 engagements | −0.79 | −0.84 to −0.71 | < 0.001 |
| Intent to leave | Respondent level, clustered | 753 respondents | 0.75 | 0.70 to 0.80 | < 0.001 |
The statement is rated from 1 to 10 with no good or bad end. The mean rating was 6.1 and the median 6.0 (n = 802 respondents). The rating was associated with all four study measures. Higher ratings came with more cancellation (r = 0.59, 95% CI 0.48 to 0.69, p < 0.001, n = 150 engagements), lower customer satisfaction among active engagements (r = −0.73, 95% CI −0.82 to −0.62, p < 0.001, n = 94 engagements), a lower engagement indicator mean (r = −0.79, 95% CI −0.84 to −0.71, p < 0.001, n = 150 engagements) and higher intent to leave (r = 0.75, cluster bootstrap 95% CI 0.70 to 0.80, p < 0.001 with standard errors clustered by engagement, n = 753 respondents). After Holm correction, ratings differed by engagement status and lifecycle stage (Welch F 33.07, Holm p < 0.001, omega squared 0.347) and respondent role (Welch F 11.28, Holm p < 0.001, omega squared 0.020).
No written response addressed the indicator.
Distribution of Ratings
| Answer | Respondents | Share of answered (base 802) | Cumulative share | Engagements with at least one | Share of 150 engagements | Distressed |
|---|---|---|---|---|---|---|
| 1 | 11 | 1.37% | 1.37% | 8 | 5.33% | Not applicable |
| 2 | 30 | 3.74% | 5.11% | 17 | 11.33% | Not applicable |
| 3 | 55 | 6.86% | 11.97% | 39 | 26.00% | Not applicable |
| 4 | 94 | 11.72% | 23.69% | 53 | 35.33% | Not applicable |
| 5 | 134 | 16.71% | 40.40% | 84 | 56.00% | Not applicable |
| 6 | 128 | 15.96% | 56.36% | 89 | 59.33% | Not applicable |
| 7 | 131 | 16.33% | 72.69% | 80 | 53.33% | Not applicable |
| 8 | 110 | 13.72% | 86.41% | 75 | 50.00% | Not applicable |
| 9 | 58 | 7.23% | 93.64% | 44 | 29.33% | Not applicable |
| 10 | 51 | 6.36% | 100.00% | 32 | 21.33% | Not applicable |
| I do not know | 0 | Not in base | Not in base | 0 | 0.00% | Not applicable |
| I prefer to not answer | 0 | Not in base | Not in base | 0 | 0.00% | Not applicable |
| Answered, total | 802 | 100.00% | 150 | 100.00% |
| Engagement level summary | Engagements | Mean of engagement means | SD | Min | Median | Max | Engagements with a distressed mean | Share of engagements distressed |
|---|---|---|---|---|---|---|---|---|
| Engagement means, as recorded | 150 | 6.0 | 1.8 | 1.5 | 6.2 | 9.8 | Not applicable | Not applicable |
The scale has no good or bad end, so no distressed range applies.
Descriptive Statistics by Segment
| Segment | Base | Answered | Answer rate | Engagements | Mean | 95% CI | SD |
|---|---|---|---|---|---|---|---|
| Study set | 850 | 802 | 94.35% of 850 | 150 | 6.1 | 5.9 to 6.2 | 2.1 |
| Outsourcing model | |||||||
| CXM | 232 | 221 | 95.26% of 232 | 42 | 5.7 | 5.4 to 6.0 | 2.2 |
| ITO | 244 | 230 | 94.26% of 244 | 40 | 6.2 | 6.0 to 6.5 | 1.9 |
| BPO | 209 | 196 | 93.78% of 209 | 37 | 6.1 | 5.8 to 6.5 | 2.3 |
| KPO | 165 | 155 | 93.94% of 165 | 31 | 6.3 | 6.0 to 6.7 | 2.2 |
| Institution type | |||||||
| Asset management | 132 | 124 | 93.94% of 132 | 24 | 6.3 | 5.9 to 6.6 | 2.2 |
| Wealth management and private banking | 140 | 134 | 95.71% of 140 | 23 | 6.1 | 5.7 to 6.4 | 2.1 |
| Investment banking (advisory and capital-markets origination) | 105 | 99 | 94.29% of 105 | 19 | 6.7 | 6.3 to 7.1 | 1.9 |
| Insurance (life, property and casualty, health) | 78 | 75 | 96.15% of 78 | 14 | 6.1 | 5.6 to 6.6 | 2.1 |
| Commercial and business banking | 82 | 78 | 95.12% of 82 | 13 | 5.8 | 5.4 to 6.2 | 1.9 |
| Payments and merchant acquiring (networks, acquiring, processing) | 71 | 68 | 95.77% of 71 | 13 | 5.8 | 5.2 to 6.3 | 2.2 |
| Credit card and payments issuing | 73 | 70 | 95.89% of 73 | 12 | 6.2 | 5.6 to 6.7 | 2.3 |
| Retail and consumer banking | 73 | 65 | 89.04% of 73 | 12 | 5.1 | 4.5 to 5.6 | 2.3 |
| Markets and trading (sales and trading, global markets) | 57 | 52 | 91.23% of 57 | 11 | 6.0 | 5.4 to 6.6 | 2.0 |
| Private equity and private capital | 39 | 37 | 94.87% of 39 | 9 | 6.8 | 6.1 to 7.5 | 2.1 |
| Process family | |||||||
| Corporate and back-office functions | 248 | 231 | 93.15% of 248 | 47 | 6.1 | 5.8 to 6.4 | 2.3 |
| Technology engineering and operations | 204 | 192 | 94.12% of 204 | 35 | 5.9 | 5.6 to 6.2 | 1.8 |
| Client servicing and communications | 94 | 92 | 97.87% of 94 | 16 | 6.2 | 5.8 to 6.7 | 2.2 |
| Trade, settlement and reconciliation | 80 | 76 | 95.00% of 80 | 15 | 6.7 | 6.2 to 7.1 | 1.9 |
| Payments, cards and disputes | 73 | 70 | 95.89% of 73 | 12 | 5.2 | 4.7 to 5.8 | 2.3 |
| Credit, underwriting and suitability | 57 | 53 | 92.98% of 57 | 9 | 6.1 | 5.5 to 6.7 | 2.2 |
| Regulatory, audit, tax and legal | 51 | 46 | 90.20% of 51 | 9 | 6.4 | 5.9 to 6.9 | 1.7 |
| Financial crime and client onboarding | 43 | 42 | 97.67% of 43 | 7 | 6.3 | 5.5 to 7.1 | 2.4 |
| Class of work | |||||||
| LOB Operational | 451 | 428 | 94.90% of 451 | 76 | 6.2 | 6.0 to 6.4 | 2.2 |
| Corporate Functional | 399 | 374 | 93.73% of 399 | 74 | 6.0 | 5.8 to 6.2 | 2.1 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | 175 | 166 | 94.86% of 175 | 31 | 5.1 | 4.8 to 5.4 | 1.9 |
| Active, Transition/Cut-Over | 250 | 236 | 94.40% of 250 | 43 | 5.5 | 5.3 to 5.8 | 2.0 |
| Active, Production | 103 | 95 | 92.23% of 103 | 20 | 5.0 | 4.6 to 5.4 | 2.0 |
| Canceled | 322 | 305 | 94.72% of 322 | 56 | 7.4 | 7.2 to 7.6 | 1.7 |
| Respondent role | |||||||
| Individual Contributor | 667 | 620 | 92.95% of 667 | 150 | 6.2 | 6.1 to 6.4 | 2.1 |
| Engagement Manager | 150 | 150 | 100.00% of 150 | 150 | 5.7 | 5.4 to 6.1 | 2.1 |
| Portfolio Director | 31 | 30 | 96.77% of 31 | 30 | 4.8 | 4.1 to 5.4 | 1.8 |
| Customer Management Executive | 2 | 2 | 2 of 2 | 2 | ‡ | ||
| Vendor type | |||||||
| IT services major | 316 | 299 | 94.62% of 316 | 59 | 5.9 | 5.7 to 6.1 | 2.0 |
| BPO specialist | 198 | 187 | 94.44% of 198 | 37 | 6.3 | 6.0 to 6.7 | 2.3 |
| Consulting firm | 117 | 109 | 93.16% of 117 | 23 | 6.1 | 5.7 to 6.5 | 2.0 |
| Boutique or specialist provider | 87 | 83 | 95.40% of 87 | 17 | 6.0 | 5.5 to 6.5 | 2.3 |
| Pure-play agentic AI firm | 75 | 70 | 93.33% of 75 | 14 | 5.7 | 5.1 to 6.2 | 2.4 |
| Not reported, recovered by engagement | 57 | 54 | 94.74% of 57 | 45 | 6.7 | 6.2 to 7.2 | 1.8 |
| Segment | Min | Q1 | Median | Q3 | Max | Distressed n | Distressed % |
|---|---|---|---|---|---|---|---|
| Study set | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Outsourcing model | |||||||
| CXM | 1.0 | 4.0 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| ITO | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| BPO | 1.0 | 4.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| KPO | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Institution type | |||||||
| Asset management | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Wealth management and private banking | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Investment banking (advisory and capital-markets origination) | 3.0 | 5.0 | 7.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Insurance (life, property and casualty, health) | 2.0 | 4.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Commercial and business banking | 2.0 | 4.3 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Payments and merchant acquiring (networks, acquiring, processing) | 1.0 | 4.0 | 6.0 | 7.3 | 10.0 | Not applicable | Not applicable |
| Credit card and payments issuing | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Retail and consumer banking | 1.0 | 3.0 | 5.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Markets and trading (sales and trading, global markets) | 1.0 | 5.0 | 5.0 | 7.3 | 10.0 | Not applicable | Not applicable |
| Private equity and private capital | 3.0 | 5.0 | 7.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Process family | |||||||
| Corporate and back-office functions | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Technology engineering and operations | 1.0 | 5.0 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Client servicing and communications | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Trade, settlement and reconciliation | 3.0 | 5.0 | 7.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Payments, cards and disputes | 1.0 | 3.3 | 5.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Credit, underwriting and suitability | 2.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Regulatory, audit, tax and legal | 2.0 | 5.0 | 7.0 | 7.8 | 10.0 | Not applicable | Not applicable |
| Financial crime and client onboarding | 3.0 | 4.0 | 6.0 | 8.8 | 10.0 | Not applicable | Not applicable |
| Class of work | |||||||
| LOB Operational | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Corporate Functional | 1.0 | 5.0 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | 1.0 | 4.0 | 5.0 | 6.0 | 9.0 | Not applicable | Not applicable |
| Active, Transition/Cut-Over | 1.0 | 4.0 | 5.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Active, Production | 1.0 | 4.0 | 5.0 | 6.0 | 10.0 | Not applicable | Not applicable |
| Canceled | 3.0 | 6.0 | 7.0 | 9.0 | 10.0 | Not applicable | Not applicable |
| Respondent role | |||||||
| Individual Contributor | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Engagement Manager | 1.0 | 4.0 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| Portfolio Director | 2.0 | 3.3 | 5.0 | 6.0 | 8.0 | Not applicable | Not applicable |
| Customer Management Executive | ‡ n = 2 | ||||||
| Vendor type | |||||||
| IT services major | 1.0 | 5.0 | 6.0 | 7.0 | 10.0 | Not applicable | Not applicable |
| BPO specialist | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Consulting firm | 1.0 | 5.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Boutique or specialist provider | 1.0 | 4.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Pure-play agentic AI firm | 1.0 | 4.0 | 6.0 | 8.0 | 10.0 | Not applicable | Not applicable |
| Not reported, recovered by engagement | 3.0 | 6.0 | 7.0 | 8.0 | 10.0 | Not applicable | Not applicable |
Every figure in the segment tables is at respondent level. Segments with fewer than 30 respondents carry no interval. Segments with fewer than 10 report counts only.
Tests of Difference Between Segments
| Segment family | Welch F | df | p | Holm p | Omega squared | 90% CI |
|---|---|---|---|---|---|---|
| Outsourcing model | 0.67 | 3, 78.1 | 0.573 | 1.000 | −0.006 | 0.000 to 0.041 |
| Institution type | 1.05 | 8, 49.3 | 0.416 | 1.000 | 0.002 | 0.000 to 0.077 |
| Process family | 1.22 | 4, 38.8 | 0.320 | 1.000 | 0.009 | 0.000 to 0.084 |
| Class of work | 0.51 | 1, 147.7 | 0.475 | 1.000 | −0.003 | 0.000 to 0.036 |
| Engagement status and lifecycle stage | 33.07 | 3, 56.2 | < 0.001 | < 0.001 | 0.347 | 0.251 to 0.439 |
| Respondent role | 11.28 | 2, 75.2 | < 0.001 | < 0.001 | 0.020 | 0.008 to 0.041 |
| Vendor type | 2.37 | 5, 234.3 | 0.040 | 0.202 | 0.008 | 0.000 to 0.024 |
| Segment family | Kruskal-Wallis H | p | Distressed chi-square | df | p | Cramer's V | Levels excluded |
|---|---|---|---|---|---|---|---|
| Outsourcing model | 2.48 | 0.479 | Not applicable | Not applicable | Not applicable | Not applicable | None |
| Institution type | 7.73 | 0.460 | Not applicable | Not applicable | Not applicable | Not applicable | Private equity and private capital, n = 9 |
| Process family | 5.35 | 0.253 | Not applicable | Not applicable | Not applicable | Not applicable | Credit, underwriting and suitability, n = 9, Regulatory, audit, tax and legal, n = 9, Financial crime and client onboarding, n = 7 |
| Class of work | 0.50 | 0.480 | Not applicable | Not applicable | Not applicable | Not applicable | None |
| Engagement status and lifecycle stage | 56.91 | < 0.001 | Not applicable | Not applicable | Not applicable | Not applicable | None |
| Respondent role | 17.58 | < 0.001 | Not applicable | Not applicable | Not applicable | Not applicable | Customer Management Executive, n = 2 |
| Vendor type | 10.52 | 0.062 | Not applicable | Not applicable | Not applicable | Not applicable | None |
Segment families recorded at engagement level were tested on engagement means. Respondent role and vendor type were tested on respondents. After Holm correction, ratings differed by engagement status and lifecycle stage (Welch F 33.07, Holm p < 0.001, omega squared 0.347). Canceled engagements rated highest (mean 7.4, n = 305 respondents) and active engagements in Production lowest (mean 5.0, n = 95 respondents). Ratings also differed by respondent role (Welch F 11.28, Holm p < 0.001, omega squared 0.020). Individual contributors rated highest (mean 6.2, n = 620 respondents) and portfolio directors lowest (mean 4.8, n = 30 respondents). Outsourcing model, institution type, process family, class of work and vendor type showed no difference.
Association with Cancellation Rate
Cancellation rate is the share of engagements canceled by the study date, measured at engagement level (150 engagements, 56 canceled). Canceled engagements were rated after cancellation. The association is therefore a descriptive contrast and not a forecast of cancellation.
| Segment | Engagements | Canceled | Cancellation rate | Point-biserial r | 95% CI | p | Holm p |
|---|---|---|---|---|---|---|---|
| Study set | 150 | 56 | 37.33% of 150 | 0.59 | 0.48 to 0.69 | < 0.001 | < 0.001 |
| Outsourcing model | |||||||
| CXM | 42 | 15 | 35.71% of 42 | 0.73 | 0.55 to 0.85 | < 0.001 | < 0.001 |
| ITO | 40 | 15 | 37.50% of 40 | 0.48 | 0.20 to 0.69 | 0.002 | 0.018 |
| BPO | 37 | 14 | 37.84% of 37 | 0.61 | 0.36 to 0.78 | < 0.001 | < 0.001 |
| KPO | 31 | 12 | 38.71% of 31 | 0.51 | 0.19 to 0.73 | 0.003 | 0.028 |
| Institution type | |||||||
| Asset management | 24 | 13 | 54.17% of 24 | 0.65 | † | < 0.001 | 0.008 |
| Wealth management and private banking | 23 | 8 | 34.78% of 23 | 0.59 | † | 0.003 | 0.028 |
| Investment banking (advisory and capital-markets origination) | 19 | 9 | 47.37% of 19 | 0.66 | † | 0.002 | 0.020 |
| Insurance (life, property and casualty, health) | 14 | 5 | 35.71% of 14 | 0.65 | † | 0.012 | 0.054 |
| Commercial and business banking | 13 | 4 | 30.77% of 13 | 0.29 | † | 0.330 | 0.487 |
| Payments and merchant acquiring (networks, acquiring, processing) | 13 | 3 | 23.08% of 13 | 0.35 | † | 0.244 | 0.487 |
| Credit card and payments issuing | 12 | 5 | 41.67% of 12 | 0.85 | † | < 0.001 | 0.006 |
| Retail and consumer banking | 12 | 4 | 33.33% of 12 | 0.75 | † | 0.005 | 0.037 |
| Markets and trading (sales and trading, global markets) | 11 | 3 | 27.27% of 11 | 0.73 | † | 0.011 | 0.054 |
| Private equity and private capital | 9 | 2 | 2 of 9 | ‡ | |||
| Process family | |||||||
| Corporate and back-office functions | 47 | 19 | 40.43% of 47 | 0.59 | 0.37 to 0.75 | < 0.001 | < 0.001 |
| Technology engineering and operations | 35 | 10 | 28.57% of 35 | 0.46 | 0.15 to 0.69 | 0.005 | 0.037 |
| Client servicing and communications | 16 | 9 | 56.25% of 16 | 0.75 | † | < 0.001 | 0.010 |
| Trade, settlement and reconciliation | 15 | 8 | 53.33% of 15 | 0.77 | † | < 0.001 | 0.010 |
| Payments, cards and disputes | 12 | 2 | 16.67% of 12 | 0.63 | † | 0.028 | 0.085 |
| Credit, underwriting and suitability | 9 | 1 | 1 of 9 | ‡ | |||
| Regulatory, audit, tax and legal | 9 | 4 | 4 of 9 | ‡ | |||
| Financial crime and client onboarding | 7 | 3 | 3 of 7 | ‡ | |||
| Class of work | |||||||
| LOB Operational | 76 | 30 | 39.47% of 76 | 0.59 | 0.43 to 0.72 | < 0.001 | < 0.001 |
| Corporate Functional | 74 | 26 | 35.14% of 74 | 0.59 | 0.42 to 0.72 | < 0.001 | < 0.001 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | 31 | 0 | 0.00% of 31 | a | |||
| Active, Transition/Cut-Over | 43 | 0 | 0.00% of 43 | a | |||
| Active, Production | 20 | 0 | 0.00% of 20 | a | |||
| Canceled | 56 | 56 | 100.00% of 56 | a |
| Segment | Odds ratio per point | 95% CI | AUC | Rate, distressed engagements | Rate, other engagements | Fisher p | TOST p |
|---|---|---|---|---|---|---|---|
| Study set | 3.22 | 2.19 to 4.74 | 0.87 | Not applicable | Not applicable | Not applicable | 1.000 |
| Outsourcing model | |||||||
| CXM | 61.91 | a | 0.98 | Not applicable | Not applicable | Not applicable | 1.000 |
| ITO | 2.96 | 1.34 to 6.57 | 0.79 | Not applicable | Not applicable | Not applicable | 0.906 |
| BPO | 2.82 | 1.44 to 5.52 | 0.88 | Not applicable | Not applicable | Not applicable | 0.991 |
| KPO | 2.23 | 1.19 to 4.18 | 0.80 | Not applicable | Not applicable | Not applicable | 0.910 |
| Institution type | |||||||
| Asset management | 6.23 | † n = 24 | 0.87 | Not applicable | Not applicable | Not applicable | 0.985 |
| Wealth management and private banking | 3.92 | † n = 23 | 0.90 | Not applicable | Not applicable | Not applicable | 0.950 |
| Investment banking (advisory and capital-markets origination) | 4.40 | † n = 19 | 0.88 | Not applicable | Not applicable | Not applicable | 0.974 |
| Insurance (life, property and casualty, health) | 4.73 | † n = 14 | 0.87 | Not applicable | Not applicable | Not applicable | 0.939 |
| Commercial and business banking | 1.63 | † n = 13 | 0.76 | Not applicable | Not applicable | Not applicable | 0.491 |
| Payments and merchant acquiring (networks, acquiring, processing) | 1.84 | † n = 13 | 0.80 | Not applicable | Not applicable | Not applicable | 0.568 |
| Credit card and payments issuing | 6.36 | † n = 12 | 1.00 | Not applicable | Not applicable | Not applicable | 0.998 |
| Retail and consumer banking | 13.02 | † n = 12 | 0.94 | Not applicable | Not applicable | Not applicable | 0.976 |
| Markets and trading (sales and trading, global markets) | 21.94 | † n = 11 | 0.92 | Not applicable | Not applicable | Not applicable | 0.960 |
| Private equity and private capital | ‡ n = 9 | ||||||
| Process family | |||||||
| Corporate and back-office functions | 2.62 | 1.50 to 4.57 | 0.86 | Not applicable | Not applicable | Not applicable | 0.993 |
| Technology engineering and operations | 3.23 | 1.26 to 8.29 | 0.81 | Not applicable | Not applicable | Not applicable | 0.858 |
| Client servicing and communications | 15.28 | † n = 16 | 0.99 | Not applicable | Not applicable | Not applicable | 0.992 |
| Trade, settlement and reconciliation | 17.08 | † n = 15 | 0.93 | Not applicable | Not applicable | Not applicable | 0.993 |
| Payments, cards and disputes | 13.25 | † n = 12 | 0.93 | Not applicable | Not applicable | Not applicable | 0.902 |
| Credit, underwriting and suitability | ‡ n = 9 | ||||||
| Regulatory, audit, tax and legal | ‡ n = 9 | ||||||
| Financial crime and client onboarding | ‡ n = 7 | ||||||
| Class of work | |||||||
| LOB Operational | 2.89 | 1.78 to 4.71 | 0.85 | Not applicable | Not applicable | Not applicable | 0.999 |
| Corporate Functional | 3.73 | 1.98 to 7.03 | 0.88 | Not applicable | Not applicable | Not applicable | 0.999 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | b | ||||||
| Active, Transition/Cut-Over | b | ||||||
| Active, Production | b | ||||||
| Canceled | b |
Across the study set, higher ratings came with more cancellation (r = 0.59, 95% CI 0.48 to 0.69, Holm p < 0.001, n = 150 engagements). The association held after Holm correction in fifteen of the 20 segment levels tested.
Association with Customer Satisfaction
Customer satisfaction is the percentage recorded against each engagement. The primary estimate uses the 94 active engagements. A descriptive contrast uses all 150 engagements.
| Segment | Active engagements | Clean r | 95% CI | p | Holm p | Spearman rho | p |
|---|---|---|---|---|---|---|---|
| Study set | 94 | −0.73 | −0.82 to −0.62 | < 0.001 | < 0.001 | −0.72 | < 0.001 |
| Outsourcing model | |||||||
| CXM | 27 | −0.72 | † | < 0.001 | < 0.001 | −0.70 | < 0.001 |
| ITO | 25 | −0.75 | † | < 0.001 | < 0.001 | −0.78 | < 0.001 |
| BPO | 23 | −0.83 | † | < 0.001 | < 0.001 | −0.82 | < 0.001 |
| KPO | 19 | −0.77 | † | < 0.001 | 0.001 | −0.69 | 0.001 |
| Institution type | |||||||
| Asset management | 11 | −0.67 | † | 0.026 | 0.051 | −0.64 | 0.036 |
| Wealth management and private banking | 15 | −0.77 | † | < 0.001 | 0.004 | −0.82 | < 0.001 |
| Investment banking (advisory and capital-markets origination) | 10 | −0.32 | † | 0.364 | 0.364 | −0.21 | 0.564 |
| Insurance (life, property and casualty, health) | 9 | ‡ | |||||
| Commercial and business banking | 9 | ‡ | |||||
| Payments and merchant acquiring (networks, acquiring, processing) | 10 | −0.79 | † | 0.007 | 0.027 | −0.71 | 0.021 |
| Credit card and payments issuing | 7 | ‡ | |||||
| Retail and consumer banking | 8 | ‡ | |||||
| Markets and trading (sales and trading, global markets) | 8 | ‡ | |||||
| Private equity and private capital | 7 | ‡ | |||||
| Process family | |||||||
| Corporate and back-office functions | 28 | −0.77 | † | < 0.001 | < 0.001 | −0.79 | < 0.001 |
| Technology engineering and operations | 25 | −0.68 | † | < 0.001 | 0.001 | −0.73 | < 0.001 |
| Client servicing and communications | 7 | ‡ | |||||
| Trade, settlement and reconciliation | 7 | ‡ | |||||
| Payments, cards and disputes | 10 | −0.76 | † | 0.010 | 0.031 | −0.73 | 0.017 |
| Credit, underwriting and suitability | 8 | ‡ | |||||
| Regulatory, audit, tax and legal | 5 | ‡ | |||||
| Financial crime and client onboarding | 4 | ‡ | |||||
| Class of work | |||||||
| LOB Operational | 46 | −0.78 | −0.88 to −0.64 | < 0.001 | < 0.001 | −0.73 | < 0.001 |
| Corporate Functional | 48 | −0.68 | −0.81 to −0.49 | < 0.001 | < 0.001 | −0.70 | < 0.001 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | 31 | −0.69 | −0.84 to −0.44 | < 0.001 | < 0.001 | −0.63 | < 0.001 |
| Active, Transition/Cut-Over | 43 | −0.79 | −0.88 to −0.65 | < 0.001 | < 0.001 | −0.79 | < 0.001 |
| Active, Production | 20 | −0.70 | † | < 0.001 | 0.004 | −0.65 | 0.002 |
| Canceled | 0 | a |
| Segment | Slope, points per rating point | 95% CI | R squared | TOST p | All engagements | Descriptive r | p |
|---|---|---|---|---|---|---|---|
| Study set | −5.15 | −6.13 to −4.16 | 0.54 | 1.000 | 150 | −0.73 | < 0.001 |
| Outsourcing model | |||||||
| CXM | −6.52 | † n = 27 | 0.52 | 0.998 | 42 | −0.84 | < 0.001 |
| ITO | −5.00 | † n = 25 | 0.56 | 0.999 | 40 | −0.63 | < 0.001 |
| BPO | −4.81 | † n = 23 | 0.69 | 1.000 | 37 | −0.75 | < 0.001 |
| KPO | −5.35 | † n = 19 | 0.59 | 0.997 | 31 | −0.70 | < 0.001 |
| Institution type | |||||||
| Asset management | −3.65 | † n = 11 | 0.44 | 0.918 | 24 | −0.72 | < 0.001 |
| Wealth management and private banking | −4.28 | † n = 15 | 0.60 | 0.994 | 23 | −0.72 | < 0.001 |
| Investment banking (advisory and capital-markets origination) | −3.51 | † n = 10 | 0.10 | 0.526 | 19 | −0.70 | < 0.001 |
| Insurance (life, property and casualty, health) | ‡ n = 9 | ||||||
| Commercial and business banking | ‡ n = 9 | ||||||
| Payments and merchant acquiring (networks, acquiring, processing) | −6.04 | † n = 10 | 0.62 | 0.977 | 13 | −0.65 | 0.017 |
| 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 | −4.97 | † n = 28 | 0.59 | 1.000 | 47 | −0.75 | < 0.001 |
| Technology engineering and operations | −5.14 | † n = 25 | 0.46 | 0.992 | 35 | −0.63 | < 0.001 |
| Client servicing and communications | ‡ n = 7 | ||||||
| Trade, settlement and reconciliation | ‡ n = 7 | ||||||
| Payments, cards and disputes | −5.01 | † n = 10 | 0.58 | 0.966 | 12 | −0.82 | 0.001 |
| 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 | −6.05 | −7.51 to −4.60 | 0.61 | 1.000 | 76 | −0.75 | < 0.001 |
| Corporate Functional | −4.24 | −5.60 to −2.89 | 0.46 | 1.000 | 74 | −0.72 | < 0.001 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | −4.18 | −5.85 to −2.50 | 0.47 | 0.998 | 31 | −0.69 | < 0.001 |
| Active, Transition/Cut-Over | −6.29 | −7.81 to −4.77 | 0.63 | 1.000 | 43 | −0.79 | < 0.001 |
| Active, Production | −4.51 | † | 0.49 | 0.989 | 20 | −0.70 | < 0.001 |
| Canceled | a |
Across the active engagements, higher ratings came with lower customer satisfaction (r = −0.73, 95% CI −0.82 to −0.62, Holm p < 0.001, n = 94 engagements). The association held after Holm correction in fourteen of the 16 segment levels tested.
Association with the Engagement Indicator Mean
The engagement indicator mean is the mean of an engagement's ratings across the rated indicators, measured at engagement level (150 engagements). The indicator does not enter the mean.
| Segment | Engagements | Leave-one-out r | 95% CI | p | Holm p | Spearman rho | p |
|---|---|---|---|---|---|---|---|
| Study set | 150 | −0.79 | −0.84 to −0.71 | < 0.001 | < 0.001 | −0.77 | < 0.001 |
| Outsourcing model | |||||||
| CXM | 42 | −0.84 | −0.91 to −0.72 | < 0.001 | < 0.001 | −0.83 | < 0.001 |
| ITO | 40 | −0.71 | −0.84 to −0.51 | < 0.001 | < 0.001 | −0.71 | < 0.001 |
| BPO | 37 | −0.83 | −0.91 to −0.69 | < 0.001 | < 0.001 | −0.79 | < 0.001 |
| KPO | 31 | −0.76 | −0.88 to −0.55 | < 0.001 | < 0.001 | −0.72 | < 0.001 |
| Institution type | |||||||
| Asset management | 24 | −0.74 | † | < 0.001 | < 0.001 | −0.62 | 0.001 |
| Wealth management and private banking | 23 | −0.77 | † | < 0.001 | < 0.001 | −0.80 | < 0.001 |
| Investment banking (advisory and capital-markets origination) | 19 | −0.66 | † | 0.002 | 0.008 | −0.64 | 0.003 |
| Insurance (life, property and casualty, health) | 14 | −0.91 | † | < 0.001 | < 0.001 | −0.88 | < 0.001 |
| Commercial and business banking | 13 | −0.71 | † | 0.006 | 0.012 | −0.72 | 0.005 |
| Payments and merchant acquiring (networks, acquiring, processing) | 13 | −0.81 | † | < 0.001 | 0.005 | −0.83 | < 0.001 |
| Credit card and payments issuing | 12 | −0.91 | † | < 0.001 | < 0.001 | −0.86 | < 0.001 |
| Retail and consumer banking | 12 | −0.79 | † | 0.002 | 0.008 | −0.79 | 0.002 |
| Markets and trading (sales and trading, global markets) | 11 | −0.87 | † | < 0.001 | 0.005 | −0.76 | 0.007 |
| Private equity and private capital | 9 | ‡ | |||||
| Process family | |||||||
| Corporate and back-office functions | 47 | −0.80 | −0.89 to −0.67 | < 0.001 | < 0.001 | −0.77 | < 0.001 |
| Technology engineering and operations | 35 | −0.72 | −0.85 to −0.51 | < 0.001 | < 0.001 | −0.73 | < 0.001 |
| Client servicing and communications | 16 | −0.87 | † | < 0.001 | < 0.001 | −0.80 | < 0.001 |
| Trade, settlement and reconciliation | 15 | −0.77 | † | < 0.001 | 0.005 | −0.66 | 0.007 |
| Payments, cards and disputes | 12 | −0.81 | † | 0.001 | 0.007 | −0.65 | 0.021 |
| Credit, underwriting and suitability | 9 | ‡ | |||||
| Regulatory, audit, tax and legal | 9 | ‡ | |||||
| Financial crime and client onboarding | 7 | ‡ | |||||
| Class of work | |||||||
| LOB Operational | 76 | −0.78 | −0.85 to −0.67 | < 0.001 | < 0.001 | −0.75 | < 0.001 |
| Corporate Functional | 74 | −0.79 | −0.86 to −0.69 | < 0.001 | < 0.001 | −0.77 | < 0.001 |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | 31 | −0.73 | −0.86 to −0.50 | < 0.001 | < 0.001 | −0.67 | < 0.001 |
| Active, Transition/Cut-Over | 43 | −0.72 | −0.84 to −0.53 | < 0.001 | < 0.001 | −0.70 | < 0.001 |
| Active, Production | 20 | −0.71 | † | < 0.001 | 0.004 | −0.68 | < 0.001 |
| Canceled | 56 | −0.31 | −0.53 to −0.06 | 0.018 | 0.018 | −0.27 | 0.046 |
| Segment | r with indicator included | Change in r | Slope | 95% CI | R squared | TOST p | Equivalent |
|---|---|---|---|---|---|---|---|
| Study set | Not a component | −0.64 | −0.72 to −0.56 | 0.62 | 1.000 | No | |
| Outsourcing model | |||||||
| CXM | Not a component | −0.72 | −0.87 to −0.57 | 0.70 | 1.000 | No | |
| ITO | Not a component | −0.61 | −0.81 to −0.41 | 0.50 | 1.000 | No | |
| BPO | Not a component | −0.56 | −0.68 to −0.43 | 0.69 | 1.000 | No | |
| KPO | Not a component | −0.67 | −0.89 to −0.45 | 0.57 | 1.000 | No | |
| Institution type | |||||||
| Asset management | Not a component | −0.61 | † n = 24 | 0.54 | 0.998 | No | |
| Wealth management and private banking | Not a component | −0.62 | † n = 23 | 0.59 | 0.999 | No | |
| Investment banking (advisory and capital-markets origination) | Not a component | −0.50 | † n = 19 | 0.44 | 0.973 | No | |
| Insurance (life, property and casualty, health) | Not a component | −0.74 | † n = 14 | 0.82 | 1.000 | No | |
| Commercial and business banking | Not a component | −0.74 | † n = 13 | 0.51 | 0.968 | No | |
| Payments and merchant acquiring (networks, acquiring, processing) | Not a component | −0.75 | † n = 13 | 0.66 | 0.995 | No | |
| Credit card and payments issuing | Not a component | −0.55 | † n = 12 | 0.83 | 1.000 | No | |
| Retail and consumer banking | Not a component | −0.64 | † n = 12 | 0.62 | 0.988 | No | |
| Markets and trading (sales and trading, global markets) | Not a component | −0.80 | † n = 11 | 0.75 | 0.998 | No | |
| Private equity and private capital | ‡ n = 9 | ||||||
| Process family | |||||||
| Corporate and back-office functions | Not a component | −0.62 | −0.76 to −0.48 | 0.65 | 1.000 | No | |
| Technology engineering and operations | Not a component | −0.67 | −0.90 to −0.44 | 0.52 | 1.000 | No | |
| Client servicing and communications | Not a component | −0.80 | † n = 16 | 0.76 | 1.000 | No | |
| Trade, settlement and reconciliation | Not a component | −0.62 | † n = 15 | 0.59 | 0.992 | No | |
| Payments, cards and disputes | Not a component | −0.53 | † n = 12 | 0.66 | 0.993 | No | |
| Credit, underwriting and suitability | ‡ n = 9 | ||||||
| Regulatory, audit, tax and legal | ‡ n = 9 | ||||||
| Financial crime and client onboarding | ‡ n = 7 | ||||||
| Class of work | |||||||
| LOB Operational | Not a component | −0.65 | −0.78 to −0.53 | 0.61 | 1.000 | No | |
| Corporate Functional | Not a component | −0.63 | −0.75 to −0.52 | 0.63 | 1.000 | No | |
| Engagement status and lifecycle stage | |||||||
| Active, Build-Out | Not a component | −0.48 | −0.66 to −0.31 | 0.53 | 0.999 | No | |
| Active, Transition/Cut-Over | Not a component | −0.54 | −0.71 to −0.37 | 0.51 | 1.000 | No | |
| Active, Production | Not a component | −0.54 | † n = 20 | 0.50 | 0.991 | No | |
| Canceled | Not a component | −0.19 | −0.34 to −0.03 | 0.10 | 0.545 | No |
Higher ratings came with a lower engagement indicator mean (r = −0.79, 95% CI −0.84 to −0.71, Holm p < 0.001, n = 150 engagements). The association held after Holm correction in twenty-four of the 24 segment levels tested.
Association with Intent to Leave
Intent to leave is the answer to C019, “How likely are you to leave your current job in the next 12 months?”, rated 1 to 10. It is measured at respondent level on up to 798 respondents, with the engagement-level form reported alongside.
| Segment | Respondents | r | 95% CI | Cluster bootstrap 95% CI | p | Holm p |
|---|---|---|---|---|---|---|
| Study set | 753 | 0.75 | 0.72 to 0.78 | 0.70 to 0.80 | < 0.001 | < 0.001 |
| Outsourcing model | ||||||
| CXM | 205 | 0.76 | 0.70 to 0.81 | 0.65 to 0.84 | < 0.001 | < 0.001 |
| ITO | 220 | 0.70 | 0.62 to 0.76 | 0.53 to 0.80 | < 0.001 | < 0.001 |
| BPO | 183 | 0.81 | 0.76 to 0.86 | 0.73 to 0.87 | < 0.001 | < 0.001 |
| KPO | 145 | 0.73 | 0.64 to 0.80 | 0.58 to 0.83 | < 0.001 | < 0.001 |
| Institution type | ||||||
| Asset management | 114 | 0.74 | 0.64 to 0.81 | 0.49 to 0.84 | < 0.001 | < 0.001 |
| Wealth management and private banking | 128 | 0.74 | 0.65 to 0.81 | 0.58 to 0.84 | < 0.001 | < 0.001 |
| Investment banking (advisory and capital-markets origination) | 92 | 0.66 | 0.53 to 0.76 | 0.41 to 0.83 | < 0.001 | < 0.001 |
| Insurance (life, property and casualty, health) | 69 | 0.78 | 0.67 to 0.86 | 0.59 to 0.88 | < 0.001 | < 0.001 |
| Commercial and business banking | 72 | 0.65 | 0.49 to 0.77 | 0.42 to 0.79 | < 0.001 | < 0.001 |
| Payments and merchant acquiring (networks, acquiring, processing) | 66 | 0.76 | 0.63 to 0.84 | 0.55 to 0.87 | < 0.001 | < 0.001 |
| Credit card and payments issuing | 67 | 0.82 | 0.72 to 0.88 | 0.68 to 0.89 | < 0.001 | < 0.001 |
| Retail and consumer banking | 59 | 0.81 | 0.70 to 0.88 | 0.63 to 0.90 | < 0.001 | < 0.001 |
| Markets and trading (sales and trading, global markets) | 50 | 0.76 | 0.62 to 0.86 | 0.51 to 0.90 | < 0.001 | < 0.001 |
| Private equity and private capital | 36 | 0.80 | 0.63 to 0.89 | § n = 9 | < 0.001 | < 0.001 |
| Process family | ||||||
| Corporate and back-office functions | 209 | 0.79 | 0.73 to 0.84 | 0.69 to 0.85 | < 0.001 | < 0.001 |
| Technology engineering and operations | 183 | 0.70 | 0.62 to 0.77 | 0.54 to 0.80 | < 0.001 | < 0.001 |
| Client servicing and communications | 88 | 0.66 | 0.52 to 0.76 | 0.34 to 0.81 | < 0.001 | < 0.001 |
| Trade, settlement and reconciliation | 71 | 0.80 | 0.69 to 0.87 | 0.61 to 0.89 | < 0.001 | < 0.001 |
| Payments, cards and disputes | 67 | 0.84 | 0.75 to 0.90 | 0.69 to 0.89 | < 0.001 | < 0.001 |
| Credit, underwriting and suitability | 50 | 0.79 | 0.65 to 0.87 | § n = 9 | < 0.001 | < 0.001 |
| Regulatory, audit, tax and legal | 44 | 0.68 | 0.48 to 0.81 | § n = 9 | < 0.001 | < 0.001 |
| Financial crime and client onboarding | 41 | 0.73 | 0.54 to 0.85 | § n = 7 | < 0.001 | < 0.001 |
| Class of work | ||||||
| LOB Operational | 403 | 0.74 | 0.69 to 0.78 | 0.67 to 0.80 | < 0.001 | < 0.001 |
| Corporate Functional | 350 | 0.77 | 0.73 to 0.81 | 0.69 to 0.83 | < 0.001 | < 0.001 |
| Engagement status and lifecycle stage | ||||||
| Active, Build-Out | 157 | 0.78 | 0.71 to 0.83 | 0.69 to 0.83 | < 0.001 | < 0.001 |
| Active, Transition/Cut-Over | 224 | 0.80 | 0.75 to 0.85 | 0.72 to 0.86 | < 0.001 | < 0.001 |
| Active, Production | 88 | 0.85 | 0.78 to 0.90 | 0.75 to 0.91 | < 0.001 | < 0.001 |
| Canceled | 284 | 0.17 | 0.05 to 0.28 | 0.04 to 0.29 | 0.005 | 0.005 |
| Respondent role | ||||||
| Individual Contributor | 572 | 0.77 | 0.73 to 0.80 | 0.72 to 0.81 | < 0.001 | < 0.001 |
| Engagement Manager | 150 | 0.74 | 0.65 to 0.80 | 0.65 to 0.80 | < 0.001 | < 0.001 |
| Portfolio Director | 30 | 0.57 | 0.27 to 0.77 | 0.27 to 0.81 | < 0.001 | 0.002 |
| Customer Management Executive | 1 | ‡ | ||||
| Vendor type | ||||||
| IT services major | 286 | 0.75 | 0.69 to 0.80 | 0.66 to 0.81 | < 0.001 | < 0.001 |
| BPO specialist | 172 | 0.79 | 0.72 to 0.84 | 0.68 to 0.86 | < 0.001 | < 0.001 |
| Consulting firm | 102 | 0.76 | 0.67 to 0.83 | 0.60 to 0.86 | < 0.001 | < 0.001 |
| Boutique or specialist provider | 75 | 0.78 | 0.67 to 0.86 | 0.56 to 0.88 | < 0.001 | < 0.001 |
| Pure-play agentic AI firm | 67 | 0.77 | 0.65 to 0.85 | 0.55 to 0.89 | < 0.001 | < 0.001 |
| Not reported, recovered by engagement | 51 | 0.49 | 0.25 to 0.67 | 0.22 to 0.71 | < 0.001 | < 0.001 |
| Segment | Spearman rho | p | Share at 7 or above, distressed | Share at 7 or above, other | Engagements | Engagement level r | 95% CI | TOST p |
|---|---|---|---|---|---|---|---|---|
| Study set | 0.73 | < 0.001 | Not applicable | Not applicable | 150 | 0.89 | 0.85 to 0.92 | 1.000 |
| Outsourcing model | ||||||||
| CXM | 0.74 | < 0.001 | Not applicable | Not applicable | 42 | 0.92 | 0.85 to 0.95 | 1.000 |
| ITO | 0.64 | < 0.001 | Not applicable | Not applicable | 40 | 0.85 | 0.74 to 0.92 | 1.000 |
| BPO | 0.81 | < 0.001 | Not applicable | Not applicable | 37 | 0.91 | 0.83 to 0.95 | 1.000 |
| KPO | 0.69 | < 0.001 | Not applicable | Not applicable | 31 | 0.86 | 0.72 to 0.93 | 1.000 |
| Institution type | ||||||||
| Asset management | 0.65 | < 0.001 | Not applicable | Not applicable | 24 | 0.85 | † | 1.000 |
| Wealth management and private banking | 0.71 | < 0.001 | Not applicable | Not applicable | 23 | 0.89 | † | 1.000 |
| Investment banking (advisory and capital-markets origination) | 0.65 | < 0.001 | Not applicable | Not applicable | 19 | 0.82 | † | 1.000 |
| Insurance (life, property and casualty, health) | 0.77 | < 0.001 | Not applicable | Not applicable | 14 | 0.90 | † | 1.000 |
| Commercial and business banking | 0.65 | < 0.001 | Not applicable | Not applicable | 13 | 0.80 | † | 0.994 |
| Payments and merchant acquiring (networks, acquiring, processing) | 0.74 | < 0.001 | Not applicable | Not applicable | 13 | 0.93 | † | 1.000 |
| Credit card and payments issuing | 0.80 | < 0.001 | Not applicable | Not applicable | 12 | 0.97 | † | 1.000 |
| Retail and consumer banking | 0.83 | < 0.001 | Not applicable | Not applicable | 12 | 0.91 | † | 1.000 |
| Markets and trading (sales and trading, global markets) | 0.71 | < 0.001 | Not applicable | Not applicable | 11 | 0.95 | † | 1.000 |
| Private equity and private capital | 0.75 | < 0.001 | Not applicable | Not applicable | 9 | ‡ | ‡ | |
| Process family | ||||||||
| Corporate and back-office functions | 0.76 | < 0.001 | Not applicable | Not applicable | 47 | 0.88 | 0.79 to 0.93 | 1.000 |
| Technology engineering and operations | 0.69 | < 0.001 | Not applicable | Not applicable | 35 | 0.85 | 0.72 to 0.92 | 1.000 |
| Client servicing and communications | 0.55 | < 0.001 | Not applicable | Not applicable | 16 | 0.90 | † | 1.000 |
| Trade, settlement and reconciliation | 0.79 | < 0.001 | Not applicable | Not applicable | 15 | 0.94 | † | 1.000 |
| Payments, cards and disputes | 0.83 | < 0.001 | Not applicable | Not applicable | 12 | 0.97 | † | 1.000 |
| Credit, underwriting and suitability | 0.78 | < 0.001 | Not applicable | Not applicable | 9 | ‡ | ‡ | |
| Regulatory, audit, tax and legal | 0.57 | < 0.001 | Not applicable | Not applicable | 9 | ‡ | ‡ | |
| Financial crime and client onboarding | 0.71 | < 0.001 | Not applicable | Not applicable | 7 | ‡ | ‡ | |
| Class of work | ||||||||
| LOB Operational | 0.71 | < 0.001 | Not applicable | Not applicable | 76 | 0.90 | 0.85 to 0.94 | 1.000 |
| Corporate Functional | 0.74 | < 0.001 | Not applicable | Not applicable | 74 | 0.88 | 0.81 to 0.92 | 1.000 |
| Engagement status and lifecycle stage | ||||||||
| Active, Build-Out | 0.77 | < 0.001 | Not applicable | Not applicable | 31 | 0.94 | 0.88 to 0.97 | 1.000 |
| Active, Transition/Cut-Over | 0.77 | < 0.001 | Not applicable | Not applicable | 43 | 0.96 | 0.93 to 0.98 | 1.000 |
| Active, Production | 0.85 | < 0.001 | Not applicable | Not applicable | 20 | 0.94 | † | 1.000 |
| Canceled | 0.17 | 0.003 | Not applicable | Not applicable | 56 | 0.42 | 0.17 to 0.61 | 0.834 |
| Respondent role | ||||||||
| Individual Contributor | 0.74 | < 0.001 | Not applicable | Not applicable | 150 | 0.88 | 0.84 to 0.91 | 1.000 |
| Engagement Manager | 0.70 | < 0.001 | Not applicable | Not applicable | 150 | 0.74 | 0.65 to 0.80 | 1.000 |
| Portfolio Director | 0.60 | < 0.001 | Not applicable | Not applicable | 30 | 0.57 | 0.27 to 0.77 | 0.963 |
| Customer Management Executive | ‡ n = 1 | |||||||
| Vendor type | ||||||||
| IT services major | 0.72 | < 0.001 | Not applicable | Not applicable | 59 | 0.90 | 0.84 to 0.94 | 1.000 |
| BPO specialist | 0.76 | < 0.001 | Not applicable | Not applicable | 37 | 0.89 | 0.79 to 0.94 | 1.000 |
| Consulting firm | 0.75 | < 0.001 | Not applicable | Not applicable | 23 | 0.88 | † | 1.000 |
| Boutique or specialist provider | 0.73 | < 0.001 | Not applicable | Not applicable | 17 | 0.92 | † | 1.000 |
| Pure-play agentic AI firm | 0.77 | < 0.001 | Not applicable | Not applicable | 14 | 0.90 | † | 1.000 |
| Not reported, recovered by engagement | 0.51 | < 0.001 | Not applicable | Not applicable | 43 | 0.47 | 0.20 to 0.68 | 0.903 |
Respondents who gave higher ratings reported higher intent to leave (r = 0.75, 95% CI 0.72 to 0.78, Holm p < 0.001, n = 753 respondents). The association held after Holm correction in thirty-seven of the 37 segment levels tested.
Comparison of Associations Across the Four Measures
| Measure | Form | Unit | n | r | 95% CI | p | Equivalent to zero | Rank among the four |
|---|---|---|---|---|---|---|---|---|
| Cancellation rate | Descriptive contrast | Engagement | 150 | 0.59 | 0.48 to 0.69 | < 0.001 | No | 4 |
| Customer satisfaction | Clean estimate | Engagement | 94 | −0.73 | −0.82 to −0.62 | < 0.001 | No | 3 |
| Engagement indicator mean | Full | Engagement | 150 | −0.79 | −0.84 to −0.71 | < 0.001 | No | 1 |
| Intent to leave | Respondent level, clustered | Respondent | 753 | 0.75 | 0.70 to 0.80 | < 0.001 | No | 2 |
| Pair compared | Difference in r | Steiger z | p | Holm p | Reading |
|---|---|---|---|---|---|
| Cancellation rate and customer satisfaction | 0.14 | 6.71 | < 0.001 | < 0.001 | Differed |
| Cancellation rate and engagement indicator mean | 0.19 | 4.75 | < 0.001 | < 0.001 | Differed |
| Cancellation rate and intent to leave | 0.30 | 10.53 | < 0.001 | < 0.001 | Differed |
| Customer satisfaction and engagement indicator mean | 0.05 | 1.87 | 0.061 | 0.061 | Did not differ |
| Customer satisfaction and intent to leave | 0.16 | 8.32 | < 0.001 | < 0.001 | Differed |
| Engagement indicator mean and intent to leave | 0.11 | 4.96 | < 0.001 | < 0.001 | Differed |
The four associations were compared in pairs on their engagement-level forms, each oriented so that a higher value is the better outcome, across the 150 engagements with all four measures. After Holm correction, five of the six pairs differed. The association with the engagement indicator mean was the strongest and the association with cancellation the weakest. The associations with customer satisfaction and the engagement indicator mean did not differ (Holm p = 0.061).
Clustering and Effective Sample Size
| Statistic | Value | Reading |
|---|---|---|
| Clusters (engagements) | 150 | Engagements with one or more answers. |
| Mean respondents per engagement | 5.3 | Answers per engagement, among engagements with one or more answers. |
| ICC(1) | 0.60 | Share of the variance that lies between engagements. |
| Design effect | 3.62 | One plus the product of the ICC and the mean cluster size less one. |
| Nominal respondent n | 802 | Respondents who answered. |
| Effective n | 221 | Nominal n divided by the design effect. |
| Cluster bootstrap applied | Yes | Applied to every respondent-level interval where the ICC is 0.05 or above. |
Answers clustered within engagements (ICC 0.60). Clustering reduced the 802 respondent answers to the equivalent of about 221 independent answers. Respondent-level intervals therefore used the cluster bootstrap. Respondent-level tests of intent to leave used standard errors that allow for clustering by engagement.
Equivalence Tests of Null Results
| Measure | n | r | Equivalence bound | TOST p, lower | TOST p, upper | Equivalent to zero | Achieved power | MDE at power 0.80 | Detection floor for this n |
|---|---|---|---|---|---|---|---|---|---|
| Cancellation rate | 150 | 0.59 | |r| < 0.30 | < 0.001 | 1.000 | No | 0.96 | 0.23 | 0.23 |
| Customer satisfaction | 94 | −0.73 | |r| < 0.30 | 1.000 | < 0.001 | No | 0.84 | 0.29 | 0.23 |
| Engagement indicator mean | 150 | −0.79 | |r| < 0.30 | 1.000 | < 0.001 | No | 0.96 | 0.23 | 0.23 |
| Intent to leave | 753, effective 207 | 0.75 | |r| < 0.30 | < 0.001 | 1.000 | No | 0.99 | 0.19 | 0.23 |
No association was equivalent to zero. Each of the four differed from zero. The detection floor shown is the study floor at 150 engagements. Intent to leave was tested on its effective sample size.
Robustness Checks
| Check | Measure | Primary r | Check r | 95% CI | Change | Conclusion holds |
|---|---|---|---|---|---|---|
| Rank correlation in place of Pearson | Cancellation rate | 0.59 | 0.61 | a | 0.02 | Yes |
| Rank correlation in place of Pearson | Customer satisfaction | −0.73 | −0.72 | a | 0.01 | Yes |
| Rank correlation in place of Pearson | Engagement indicator mean | −0.79 | −0.77 | a | 0.02 | Yes |
| Rank correlation in place of Pearson | Intent to leave | 0.75 | 0.73 | a | −0.03 | Yes |
| Non-answers excluded, then imputed at the engagement mean | Intent to leave | 0.75 | 0.76 | a | 0.00 | Yes |
| Active engagements only | Engagement indicator mean | −0.79 | −0.70 | −0.79 to −0.59 | 0.08 | Yes |
| Active engagements only | Intent to leave | 0.75 | 0.81 | 0.77 to 0.84 | 0.05 | Yes |
| Most influential engagement removed (largest Cook's distance) | Cancellation rate | 0.59 | 0.61 | 0.49 to 0.70 | 0.01 | Yes |
| Most influential engagement removed (largest Cook's distance) | Customer satisfaction | −0.73 | −0.75 | −0.83 to −0.65 | −0.02 | Yes |
| Most influential engagement removed (largest Cook's distance) | Engagement indicator mean | −0.79 | −0.79 | −0.84 to −0.72 | 0.00 | Yes |
| Most influential engagement removed (largest Cook's distance) | Intent to leave | 0.75 | 0.76 | 0.72 to 0.78 | 0.00 | Yes |
| Engagements weighted by respondent count | Cancellation rate | 0.59 | 0.59 | a | 0.00 | Yes |
| Engagements weighted by respondent count | Customer satisfaction | −0.73 | −0.73 | a | 0.00 | Yes |
| Engagements weighted by respondent count | Engagement indicator mean | −0.79 | −0.78 | a | 0.01 | Yes |
| Bootstrap of engagements | Cancellation rate | 0.59 | 0.59 | 0.50 to 0.68 | 0.00 | Yes |
| Bootstrap of engagements | Customer satisfaction | −0.73 | −0.73 | −0.82 to −0.63 | 0.00 | Yes |
| Bootstrap of engagements | Engagement indicator mean | −0.79 | −0.78 | −0.84 to −0.72 | 0.00 | Yes |
| Bootstrap of engagements | Intent to leave | 0.75 | 0.75 | 0.70 to 0.80 | 0.00 | Yes |
| Thin-base segments removed | Cancellation rate | 0.59 | 0.55 | 0.37 to 0.68 | −0.05 | Yes |
| Thin-base segments removed | Customer satisfaction | −0.73 | −0.72 | −0.83 to −0.55 | 0.02 | Yes |
| Thin-base segments removed | Engagement indicator mean | −0.79 | −0.77 | −0.85 to −0.67 | 0.01 | Yes |
| Thin-base segments removed | Intent to leave | 0.75 | 0.76 | 0.71 to 0.80 | 0.00 | Yes |
Each change was computed before rounding and may differ by 0.01 from the difference between the two printed values.
All 22 checks held. A check holds when its test falls on the same side of 0.05 as the primary test. Where the primary test falls below 0.05, the check must also keep the sign of the primary correlation. The thin-base check removes the engagements in any level of outsourcing model or process family with fewer than 30 engagements. Institution type is not used for that check, because every one of its levels has fewer than 30 engagements.
Measure Independence and Part-Whole Correction
Each of the four measures was computed from data the indicator does not contain. Each result is therefore a finding and not an arithmetic consequence.
Comparison with the Study Norm
| Measure | The indicator, oriented r | Study median, oriented r | Deviation | Fisher z | p | Holm p |
|---|---|---|---|---|---|---|
| Cancellation rate | −0.59 | 0.60 | −1.19 | −16.63 | < 0.001 | < 0.001 |
| Customer satisfaction | −0.73 | 0.72 | −1.45 | −22.35 | < 0.001 | < 0.001 |
| Engagement indicator mean | −0.79 | 0.84 | −1.62 | −27.49 | < 0.001 | < 0.001 |
| Intent to leave | −0.89 | 0.71 | −1.61 | −28.31 | < 0.001 | < 0.001 |
| Spread of deviations | 0.43 | |||||
| Verdict | Divergent |
Each deviation was computed before rounding and may differ by 0.01 from the difference between the two printed values.
The comparison covered 150 engagements. The indicator departed from the study's typical pattern on all four measures. Its association was weaker than the norm on cancellation, customer satisfaction, the engagement indicator mean and intent to leave.
Interpretation of the Data
Stronger the view that working directly for a bank would be better than working for an outsourcing vendor came with more cancellation, lower customer satisfaction among active engagements, a lower engagement indicator mean and higher intent to leave, and every association held under each of the 22 robustness checks. Respondents on canceled engagements rated the statement well above those on the three active stages (mean 7.4, n = 305 respondents).
No respondent wrote about whether working directly for a bank would be better than working for an outsourcing vendor. The evidence for the indicator is therefore the rating alone, and the reasons behind it are not recorded.
Limitations
The evidence is the reported experience of the vendor's delivery teams, collected in a single cross-section. The associations reported here are not causal.
Tests by respondent role and by vendor type treated respondents as independent. The section on clustering reports how far clustering within engagements reduced the information in respondent-level figures.
Customer management executives gave 2 answers, a base of anecdote strength.
No written response addressed the indicator.
Definitions
| Term | Definition |
|---|---|
| Response scale | A rating from 1 to 10 of agreement with the statement, with no good or bad end. No distressed range applies. |
| Answering base | Respondents who gave a rating from 1 to 10. |
| Non-answers | “I do not know” and “I prefer to not answer” are counted separately and excluded from the mean. |
| Indicator class | Respondent level: a value recorded for each respondent and computed across the respondents who answered. |
| Failure category | The five failure categories of the Study Taxonomy apply only to the rated indicators. The indicator is not a rated indicator and carries none. |
| Engagement indicator mean | The mean of an engagement's ratings across the rated indicators. The indicator does not enter it. |
| Cluster bootstrap | An interval computed by resampling engagements rather than responses, so that the responses from one engagement stay together. |
Sources and Provenance
| Source | Value |
|---|---|
| Study data | Study Data.xlsx, Data sheet, column C028, sha256 219eba0457274d04 |
| Statistics engine | compute_statistics.py, sha256 738319eef764602b |
| Statistics record | Computed Statistics.json, record C028, sha256 1ae50a3637fc9370 |
| Computed | October 13, 2026, 04:57 UTC |
| Template | Indicator Template v2, version 2.0 of 10 October 2026 |
| Figures placed by script | 2,379 |
