Study Data · Part 4 · Indicator Deep-Dive Analysis

IC Respondent Count

Indicator ENG:IC_Respondent_Count · By Phil Hatch · Akholi · October 9, 2026

Indicator Specification

Table 1. Indicator specificationTable
FieldValue
Indicator codeNone, an engagement field
Question as askedIC Respondent Count
Failure categoryNot one of the 100 rated indicators
Place in the surveyNot a survey item
Indicator classEngagement attribute
Indicator typeEngagement attribute, typed number
Response scaleA number, as typed or recorded
Answering base150 engagements
Non-answersNone, the value is recorded for every engagement

Summary of Findings

Table 2. Key results: association of the indicator with the four study measuresTable
MeasureFormnr95% CIp
Cancellation rateDescriptive contrast150 engagements0.09−0.07 to 0.240.286
Customer satisfactionClean estimate94 engagements0.00−0.21 to 0.200.966
Engagement indicator meanFull150 engagements−0.08−0.23 to 0.080.346
Intent to leaveRespondent level, clustered798 respondents0.07−0.09 to 0.230.408

The Engagements sheet records, for each engagement, the number of its respondents who were individual contributors. The count ran from 2 to 8, with a mean of 4.4 (95% CI 4.3 to 4.6) and a median of 4.0 (n = 150 engagements).

The count was not associated with any of the four study measures, and each association was equivalent to zero: cancellation (r = 0.09, 95% CI −0.07 to 0.24, p = 0.286, n = 150 engagements), customer satisfaction among active engagements (r = 0.00, 95% CI −0.21 to 0.20, p = 0.966, n = 94 engagements), the engagement indicator mean (r = −0.08, 95% CI −0.23 to 0.08, p = 0.346, n = 150 engagements) and intent to leave (r = 0.07, cluster bootstrap 95% CI −0.09 to 0.23, p = 0.408 with standard errors clustered by engagement, n = 798 respondents). After Holm correction, the count differed by class of work (Welch F 8.34, Holm p = 0.022).

Distribution of Recorded Values

Table 3. Distribution of recorded valuesTable
ValueEngagementsShare of engagements (base 150)Cumulative share
2.0 to 2.632.00%2.00%
2.6 to 3.22617.33%19.33%
3.2 to 3.800.00%19.33%
3.8 to 4.45436.00%55.33%
4.4 to 5.000.00%55.33%
5.0 to 5.63926.00%81.33%
5.6 to 6.22516.67%98.00%
6.2 to 6.800.00%98.00%
6.8 to 7.421.33%99.33%
7.4 to 8.010.67%100.00%
Total150100.00%
Table 4. Recorded values, engagement level summaryTable
Engagement level summaryEngagementsMeanSDMinMedianMax
Values as recorded1504.41.12.04.08.0

The count is a whole number recorded once for each engagement, and no distressed range applies. The table groups values in bands of 0.6, so the bands that hold no whole number are empty. The most common count, 4, held 54 of the 150 engagements (36.00%). Counts of 7 or more were rare, at three engagements.

Descriptive Statistics by Segment

Table 5a. Descriptive statistics by segment, part 1 of 2Table
SegmentBaseAnsweredAnswer rateEngagementsMean95% CISD
Study set150150100.00% of 1501504.44.3 to 4.61.1
Outsourcing model
CXM4242100.00% of 42424.34.0 to 4.61.0
ITO4040100.00% of 40404.94.4 to 5.31.3
BPO3737100.00% of 37374.44.1 to 4.81.0
KPO3131100.00% of 31314.23.8 to 4.51.0
Institution type
Asset management2424100.00% of 24244.3†1.2
Wealth management and private banking2323100.00% of 23234.8†1.1
Investment banking (advisory and capital-markets origination)1919100.00% of 19194.4†1.1
Insurance (life, property and casualty, health)1414100.00% of 14144.6†0.9
Commercial and business banking1313100.00% of 13135.0†1.2
Payments and merchant acquiring (networks, acquiring, processing)1313100.00% of 13134.2†1.2
Credit card and payments issuing1212100.00% of 12124.7†1.0
Retail and consumer banking1212100.00% of 12124.8†0.8
Markets and trading (sales and trading, global markets)1111100.00% of 11114.1†0.7
Private equity and private capital999 of 99‡
Process family
Corporate and back-office functions4747100.00% of 47474.13.8 to 4.30.9
Technology engineering and operations3535100.00% of 35354.64.1 to 5.11.4
Client servicing and communications1616100.00% of 16164.8†0.8
Trade, settlement and reconciliation1515100.00% of 15154.2†1.0
Payments, cards and disputes1212100.00% of 12124.6†0.9
Credit, underwriting and suitability999 of 99‡
Regulatory, audit, tax and legal999 of 99‡
Financial crime and client onboarding777 of 77‡
Class of work
LOB Operational7676100.00% of 76764.74.5 to 4.91.0
Corporate Functional7474100.00% of 74744.23.9 to 4.41.1
Engagement status and lifecycle stage
Active, Build-Out3131100.00% of 31314.54.1 to 4.80.9
Active, Transition/Cut-Over4343100.00% of 43434.54.1 to 4.91.3
Active, Production2020100.00% of 20204.0†0.9
Canceled5656100.00% of 56564.64.3 to 4.91.1
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 set2.04.04.05.08.0Not applicableNot applicable
Outsourcing model
CXM2.04.04.05.06.0Not applicableNot applicable
ITO2.04.05.06.08.0Not applicableNot applicable
BPO2.04.04.05.06.0Not applicableNot applicable
KPO3.03.54.05.06.0Not applicableNot applicable
Institution type
Asset management3.04.04.05.08.0Not applicableNot applicable
Wealth management and private banking3.04.05.06.07.0Not applicableNot applicable
Investment banking (advisory and capital-markets origination)3.03.54.05.06.0Not applicableNot applicable
Insurance (life, property and casualty, health)3.04.05.05.06.0Not applicableNot applicable
Commercial and business banking3.04.05.06.07.0Not applicableNot applicable
Payments and merchant acquiring (networks, acquiring, processing)2.03.04.05.06.0Not applicableNot applicable
Credit card and payments issuing3.04.04.55.36.0Not applicableNot applicable
Retail and consumer banking4.04.05.05.06.0Not applicableNot applicable
Markets and trading (sales and trading, global markets)3.04.04.04.55.0Not applicableNot applicable
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functions3.04.04.04.06.0Not applicableNot applicable
Technology engineering and operations2.04.05.05.58.0Not applicableNot applicable
Client servicing and communications3.04.05.05.06.0Not applicableNot applicable
Trade, settlement and reconciliation2.04.04.05.06.0Not applicableNot applicable
Payments, cards and disputes3.04.04.55.06.0Not applicableNot applicable
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB Operational3.04.05.05.08.0Not applicableNot applicable
Corporate Functional2.03.04.05.07.0Not applicableNot applicable
Engagement status and lifecycle stage
Active, Build-Out3.04.04.05.06.0Not applicableNot applicable
Active, Transition/Cut-Over2.04.04.06.08.0Not applicableNot applicable
Active, Production2.03.04.04.36.0Not applicableNot applicable
Canceled2.04.05.05.07.0Not applicableNot applicable
Note: ‡ Base under 10. No statistic is reported.

Every figure in the segment tables is at engagement level. Segments with fewer than 30 engagements carry no interval. Segments with fewer than 10 report 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 model2.393, 79.60.0750.2240.0360.002 to 0.111
Institution type1.348, 50.30.2480.2480.0130.000 to 0.093
Process family2.794, 39.50.0390.1580.0380.000 to 0.125
Class of work8.341, 146.30.0040.0220.0470.010 to 0.121
Engagement status and lifecycle stage2.063, 65.30.1140.2280.0130.000 to 0.077
Table 6b. Tests of difference between segments, part 2 of 2Table
Segment familyKruskal-Wallis HpDistressed chi-squaredfpCramer's VLevels excluded
Outsourcing model8.170.043Not applicableNot applicableNot applicableNot applicableNone
Institution type10.150.255Not applicableNot applicableNot applicableNot applicablePrivate equity and private capital, n = 9
Process family10.010.040Not applicableNot applicableNot applicableNot applicableCredit, underwriting and suitability, n = 9, Regulatory, audit, tax and legal, n = 9, Financial crime and client onboarding, n = 7
Class of work7.800.005Not applicableNot applicableNot applicableNot applicableNone
Engagement status and lifecycle stage4.920.177Not applicableNot applicableNot applicableNot applicableNone

Each segment family was tested on engagements. After Holm correction, the count differed by class of work (Welch F 8.34, Holm p = 0.022, omega squared 0.047): LOB operational engagements had a mean of 4.7 individual contributors among their respondents (n = 76 engagements) and corporate functional engagements 4.2 (n = 74 engagements). Outsourcing model, institution type, process family and engagement status and lifecycle stage showed no difference after Holm correction.

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, so the association is a descriptive contrast and not a forecast of cancellation.

Table 7a. Association with cancellation rate by segment, part 1 of 2Table
SegmentEngagementsCanceledCancellation ratePoint-biserial r95% CIpHolm p
Study set1505637.33% of 1500.09−0.07 to 0.240.2861.000
Outsourcing model
CXM421535.71% of 42−0.11−0.40 to 0.200.4771.000
ITO401537.50% of 400.13−0.19 to 0.430.4181.000
BPO371437.84% of 370.23−0.11 to 0.510.1791.000
KPO311238.71% of 310.14−0.22 to 0.470.4421.000
Institution type
Asset management241354.17% of 240.05†0.8211.000
Wealth management and private banking23834.78% of 230.12†0.5961.000
Investment banking (advisory and capital-markets origination)19947.37% of 190.07†0.7871.000
Insurance (life, property and casualty, health)14535.71% of 14−0.31†0.2871.000
Commercial and business banking13430.77% of 130.15†0.6241.000
Payments and merchant acquiring (networks, acquiring, processing)13323.08% of 13−0.07†0.8151.000
Credit card and payments issuing12541.67% of 120.66†0.0200.424
Retail and consumer banking12433.33% of 120.24†0.4431.000
Markets and trading (sales and trading, global markets)11327.27% of 11−0.08†0.8081.000
Private equity and private capital922 of 9‡
Process family
Corporate and back-office functions471940.43% of 470.28−0.01 to 0.520.0611.000
Technology engineering and operations351028.57% of 350.00−0.33 to 0.331.0001.000
Client servicing and communications16956.25% of 16−0.20†0.4471.000
Trade, settlement and reconciliation15853.33% of 150.19†0.4951.000
Payments, cards and disputes12216.67% of 120.22†0.5001.000
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 760.03−0.20 to 0.250.8081.000
Corporate Functional742635.14% of 740.13−0.10 to 0.350.2721.000
Engagement status and lifecycle stage
Active, Build-Out3100.00% of 31a
Active, Transition/Cut-Over4300.00% of 43a
Active, Production2000.00% of 20a
Canceled5656100.00% of 56a
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a Not tested: no variation in cancellation.
Table 7b. Association with cancellation rate by segment, part 2 of 2Table
SegmentOdds ratio per point95% CIAUCRate, distressed engagementsRate, other engagementsFisher pTOST p
Study set1.180.87 to 1.600.56Not applicableNot applicableNot applicable0.004
Outsourcing model
CXM0.790.41 to 1.500.57Not applicableNot applicableNot applicable0.110
ITO1.240.74 to 2.080.59Not applicableNot applicableNot applicable0.141
BPO1.660.79 to 3.490.62Not applicableNot applicableNot applicable0.321
KPO1.360.63 to 2.920.58Not applicableNot applicableNot applicable0.191
Institution type
Asset management1.09† n = 240.61Not applicableNot applicableNot applicable0.116
Wealth management and private banking1.26† n = 230.57Not applicableNot applicableNot applicable0.195
Investment banking (advisory and capital-markets origination)1.13† n = 190.53Not applicableNot applicableNot applicable0.165
Insurance (life, property and casualty, health)0.47† n = 140.63Not applicableNot applicableNot applicable0.509
Commercial and business banking1.35† n = 130.57Not applicableNot applicableNot applicable0.309
Payments and merchant acquiring (networks, acquiring, processing)0.86† n = 130.55Not applicableNot applicableNot applicable0.227
Credit card and payments issuing7.69† n = 120.86Not applicableNot applicableNot applicable0.924
Retail and consumer banking2.07† n = 120.59Not applicableNot applicableNot applicable0.429
Markets and trading (sales and trading, global markets)0.76† n = 110.56Not applicableNot applicableNot applicable0.261
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functions2.000.95 to 4.250.62Not applicableNot applicableNot applicable0.430
Technology engineering and operations1.000.58 to 1.720.53Not applicableNot applicableNot applicable0.040
Client servicing and communications0.58† n = 160.60Not applicableNot applicableNot applicable0.357
Trade, settlement and reconciliation1.50† n = 150.61Not applicableNot applicableNot applicable0.344
Payments, cards and disputes2.00† n = 120.63Not applicableNot applicableNot applicable0.394
Credit, underwriting and suitability‡ n = 9
Regulatory, audit, tax and legal‡ n = 9
Financial crime and client onboarding‡ n = 7
Class of work
LOB Operational1.060.68 to 1.660.53Not applicableNot applicableNot applicable0.008
Corporate Functional1.280.83 to 1.970.58Not applicableNot applicableNot applicable0.065
Engagement status and lifecycle stage
Active, Build-Outa
Active, Transition/Cut-Overa
Active, Productiona
Canceleda
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a Not tested: no variation in cancellation.

Across the study set, the count was not associated with cancellation (r = 0.09, 95% CI −0.07 to 0.24, Holm p = 1.000, n = 150 engagements). The association held after Holm correction in none 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.

Table 8a. Association with customer satisfaction by segment, part 1 of 2Table
SegmentActive engagementsClean r95% CIpHolm pSpearman rhop
Study set940.00−0.21 to 0.200.9661.000−0.030.795
Outsourcing model
CXM27−0.04†0.8431.000−0.010.946
ITO250.02†0.9061.000−0.040.854
BPO230.04†0.8551.0000.030.908
KPO19−0.14†0.5691.000−0.180.472
Institution type
Asset management110.23†0.4921.0000.080.814
Wealth management and private banking15−0.05†0.8721.000−0.090.760
Investment banking (advisory and capital-markets origination)100.47†0.1721.0000.430.218
Insurance (life, property and casualty, health)9‡
Commercial and business banking9‡
Payments and merchant acquiring (networks, acquiring, processing)10−0.46†0.1841.000−0.630.051
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 functions28−0.01†0.9411.000−0.030.872
Technology engineering and operations250.05†0.8111.0000.010.981
Client servicing and communications7‡
Trade, settlement and reconciliation7‡
Payments, cards and disputes10−0.38†0.2841.000−0.220.540
Credit, underwriting and suitability8‡
Regulatory, audit, tax and legal5‡
Financial crime and client onboarding4‡
Class of work
LOB Operational460.06−0.23 to 0.350.6881.0000.040.785
Corporate Functional48−0.07−0.35 to 0.220.6401.000−0.080.599
Engagement status and lifecycle stage
Active, Build-Out310.07−0.29 to 0.420.6941.0000.110.552
Active, Transition/Cut-Over430.07−0.24 to 0.360.6641.0000.020.895
Active, Production20−0.20†0.3941.000−0.230.335
Canceled0a
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a Not tested: 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−0.05−2.21 to 2.110.000.002150−0.090.271
Outsourcing model
CXM−0.56† n = 270.000.093420.090.556
ITO0.18† n = 250.000.09140−0.150.355
BPO0.38† n = 230.000.11437−0.200.238
KPO−1.98† n = 190.020.24931−0.190.314
Institution type
Asset management1.52† n = 110.050.41824−0.030.876
Wealth management and private banking−0.35† n = 150.000.18023−0.130.545
Investment banking (advisory and capital-markets origination)5.23† n = 100.220.701190.040.883
Insurance (life, property and casualty, health)‡ n = 9
Commercial and business banking‡ n = 9
Payments and merchant acquiring (networks, acquiring, processing)−5.13† n = 100.210.68713−0.130.666
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−0.27† n = 280.000.07047−0.260.076
Technology engineering and operations0.38† n = 250.000.112350.000.996
Client servicing and communications‡ n = 7
Trade, settlement and reconciliation‡ n = 7
Payments, cards and disputes−5.08† n = 100.140.59012−0.330.299
Credit, underwriting and suitability‡ n = 8
Regulatory, audit, tax and legal‡ n = 5
Financial crime and client onboarding‡ n = 4
Class of work
LOB Operational0.74−2.93 to 4.410.000.05276−0.020.863
Corporate Functional−0.65−3.45 to 2.140.000.05474−0.140.226
Engagement status and lifecycle stage
Active, Build-Out0.84−3.50 to 5.180.010.106310.070.694
Active, Transition/Cut-Over0.66−2.40 to 3.720.000.064430.070.664
Active, Production−2.55†0.040.33220−0.200.394
Canceleda
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported. a Not tested: canceled engagements fall outside the active population.

Across the active engagements, the count was not associated with customer satisfaction (r = 0.00, 95% CI −0.21 to 0.20, Holm p = 1.000, n = 94 engagements). The association held after Holm correction in none 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 count is not a rated indicator and does not enter the mean.

Table 9a. Association with the engagement indicator mean by segment, part 1 of 2Table
SegmentEngagementsLeave-one-out r95% CIpHolm pSpearman rhop
Study set150−0.08−0.23 to 0.080.3461.000−0.090.268
Outsourcing model
CXM420.09−0.22 to 0.390.5581.0000.100.537
ITO40−0.19−0.47 to 0.130.2401.000−0.220.165
BPO37−0.08−0.40 to 0.250.6311.000−0.060.738
KPO31−0.18−0.50 to 0.190.3371.000−0.180.320
Institution type
Asset management240.11†0.6221.000−0.060.789
Wealth management and private banking23−0.25†0.2411.000−0.220.309
Investment banking (advisory and capital-markets origination)19−0.20†0.4041.000−0.230.342
Insurance (life, property and casualty, health)140.47†0.0881.0000.330.250
Commercial and business banking13−0.12†0.6911.000−0.090.775
Payments and merchant acquiring (networks, acquiring, processing)13−0.19†0.5351.000−0.210.494
Credit card and payments issuing12−0.59†0.0441.000−0.510.092
Retail and consumer banking12−0.09†0.7701.000−0.050.870
Markets and trading (sales and trading, global markets)110.03†0.9241.000−0.120.735
Private equity and private capital9‡
Process family
Corporate and back-office functions47−0.15−0.42 to 0.150.3301.000−0.130.382
Technology engineering and operations35−0.07−0.40 to 0.270.6821.000−0.100.549
Client servicing and communications160.10†0.7251.0000.050.847
Trade, settlement and reconciliation150.13†0.6321.0000.010.968
Payments, cards and disputes12−0.34†0.2761.000−0.120.705
Credit, underwriting and suitability9‡
Regulatory, audit, tax and legal9‡
Financial crime and client onboarding7‡
Class of work
LOB Operational76−0.03−0.26 to 0.200.7871.000−0.050.690
Corporate Functional74−0.12−0.34 to 0.110.3211.000−0.120.321
Engagement status and lifecycle stage
Active, Build-Out310.18−0.18 to 0.500.3291.0000.180.341
Active, Transition/Cut-Over43−0.06−0.36 to 0.240.6911.000−0.120.451
Active, Production20−0.30†0.2051.000−0.270.253
Canceled560.09−0.18 to 0.340.5251.0000.070.593
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−0.10−0.32 to 0.110.010.002Yes
Outsourcing model
CXMNot a component0.15−0.36 to 0.660.010.088No
ITONot a component−0.19−0.51 to 0.130.040.239No
BPONot a component−0.11−0.57 to 0.350.010.092No
KPONot a component−0.30−0.94 to 0.330.030.247No
Institution type
Asset managementNot a component0.14† n = 240.010.176No
Wealth management and private bankingNot a component−0.34† n = 230.060.413No
Investment banking (advisory and capital-markets origination)Not a component−0.20† n = 190.040.340No
Insurance (life, property and casualty, health)Not a component0.78† n = 140.220.751No
Commercial and business bankingNot a component−0.15† n = 130.010.277No
Payments and merchant acquiring (networks, acquiring, processing)Not a component−0.26† n = 130.040.355No
Credit card and payments issuingNot a component−0.75† n = 120.350.863No
Retail and consumer bankingNot a component−0.21† n = 120.010.260No
Markets and trading (sales and trading, global markets)Not a component0.07† n = 110.000.217No
Private equity and private capital‡ n = 9
Process family
Corporate and back-office functionsNot a component−0.27−0.82 to 0.280.020.140No
Technology engineering and operationsNot a component−0.07−0.41 to 0.270.010.089No
Client servicing and communicationsNot a component0.19† n = 160.010.220No
Trade, settlement and reconciliationNot a component0.18† n = 150.020.273No
Payments, cards and disputesNot a component−0.50† n = 120.120.557No
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−0.05−0.38 to 0.290.000.009Yes
Corporate FunctionalNot a component−0.15−0.46 to 0.150.010.053No
Engagement status and lifecycle stage
Active, Build-OutNot a component0.23−0.24 to 0.700.030.252No
Active, Transition/Cut-OverNot a component−0.06−0.35 to 0.230.000.059No
Active, ProductionNot a component−0.44† n = 200.090.492No
CanceledNot a component0.05−0.11 to 0.210.010.053No
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The count was not associated with the engagement indicator mean (r = −0.08, 95% CI −0.23 to 0.08, Holm p = 1.000, n = 150 engagements). The association held after Holm correction in none 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, each carrying the count recorded for the respondent's engagement.

Table 10a. Association with intent to leave by segment, part 1 of 2Table
SegmentRespondentsr95% CICluster bootstrap 95% CIpHolm p
Study set7980.070.00 to 0.14−0.09 to 0.230.0490.838
Outsourcing model
CXM215−0.04−0.18 to 0.09−0.34 to 0.250.5181.000
ITO2330.02−0.11 to 0.14−0.29 to 0.340.8181.000
BPO1960.12−0.02 to 0.25−0.21 to 0.440.1001.000
KPO1540.200.05 to 0.35−0.18 to 0.540.0120.254
Institution type
Asset management122−0.05−0.22 to 0.13−0.48 to 0.570.6001.000
Wealth management and private banking1320.07−0.10 to 0.24−0.35 to 0.460.4371.000
Investment banking (advisory and capital-markets origination)98−0.04−0.24 to 0.16−0.44 to 0.400.6781.000
Insurance (life, property and casualty, health)71−0.30−0.49 to −0.07−0.67 to 0.240.0120.258
Commercial and business banking760.370.16 to 0.55−0.24 to 0.760.0010.026
Payments and merchant acquiring (networks, acquiring, processing)690.250.01 to 0.46−0.22 to 0.660.0390.701
Credit card and payments issuing700.620.45 to 0.740.15 to 0.87< 0.001< 0.001
Retail and consumer banking670.270.03 to 0.48−0.55 to 0.740.0300.573
Markets and trading (sales and trading, global markets)55−0.21−0.45 to 0.05−0.56 to 0.210.1181.000
Private equity and private capital380.410.10 to 0.65§ n = 90.0100.243
Process family
Corporate and back-office functions2260.250.12 to 0.36−0.04 to 0.47< 0.0010.005
Technology engineering and operations194−0.08−0.21 to 0.07−0.36 to 0.250.2991.000
Client servicing and communications89−0.16−0.36 to 0.05−0.64 to 0.380.1251.000
Trade, settlement and reconciliation75−0.21−0.42 to 0.01−0.63 to 0.400.0650.979
Payments, cards and disputes700.280.05 to 0.49−0.32 to 0.800.0170.350
Credit, underwriting and suitability530.26−0.01 to 0.50§ n = 90.0570.916
Regulatory, audit, tax and legal490.20−0.09 to 0.45§ n = 90.1781.000
Financial crime and client onboarding420.650.43 to 0.79§ n = 7< 0.001< 0.001
Class of work
LOB Operational4240.00−0.09 to 0.10−0.22 to 0.250.9471.000
Corporate Functional3740.130.03 to 0.23−0.07 to 0.330.0100.243
Engagement status and lifecycle stage
Active, Build-Out166−0.05−0.20 to 0.10−0.34 to 0.260.5141.000
Active, Transition/Cut-Over237−0.02−0.15 to 0.10−0.28 to 0.250.7061.000
Active, Production950.330.14 to 0.500.01 to 0.610.0010.026
Canceled300−0.05−0.16 to 0.06−0.16 to 0.050.3911.000
Note: § Too few engagements for a cluster bootstrap interval.
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 set0.080.031Not applicableNot applicable1500.09−0.07 to 0.250.004
Outsourcing model
CXM−0.050.484Not applicableNot applicable42−0.07−0.36 to 0.240.064
ITO0.040.577Not applicableNot applicable400.03−0.28 to 0.340.046
BPO0.100.169Not applicableNot applicable370.17−0.16 to 0.470.215
KPO0.190.016Not applicableNot applicable310.25−0.12 to 0.550.379
Institution type
Asset management0.110.239Not applicableNot applicable240.09†0.159
Wealth management and private banking−0.010.878Not applicableNot applicable230.16†0.250
Investment banking (advisory and capital-markets origination)−0.040.714Not applicableNot applicable19−0.05†0.145
Insurance (life, property and casualty, health)−0.260.027Not applicableNot applicable14−0.32†0.536
Commercial and business banking0.370.001Not applicableNot applicable130.33†0.543
Payments and merchant acquiring (networks, acquiring, processing)0.260.032Not applicableNot applicable130.23†0.402
Credit card and payments issuing0.58< 0.001Not applicableNot applicable120.66†0.929
Retail and consumer banking0.230.063Not applicableNot applicable120.22†0.401
Markets and trading (sales and trading, global markets)−0.220.112Not applicableNot applicable11−0.22†0.409
Private equity and private capital0.470.003Not applicableNot applicable9‡‡
Process family
Corporate and back-office functions0.200.002Not applicableNot applicable470.25−0.04 to 0.500.361
Technology engineering and operations−0.050.467Not applicableNot applicable35−0.08−0.40 to 0.260.095
Client servicing and communications−0.170.115Not applicableNot applicable16−0.16†0.300
Trade, settlement and reconciliation−0.170.139Not applicableNot applicable15−0.14†0.281
Payments, cards and disputes0.270.026Not applicableNot applicable120.38†0.607
Credit, underwriting and suitability0.210.125Not applicableNot applicable9‡‡
Regulatory, audit, tax and legal0.190.196Not applicableNot applicable9‡‡
Financial crime and client onboarding0.60< 0.001Not applicableNot applicable7‡‡
Class of work
LOB Operational0.020.656Not applicableNot applicable760.04−0.19 to 0.260.010
Corporate Functional0.130.016Not applicableNot applicable740.14−0.10 to 0.350.073
Engagement status and lifecycle stage
Active, Build-Out−0.080.279Not applicableNot applicable31−0.03−0.38 to 0.330.066
Active, Transition/Cut-Over−0.030.612Not applicableNot applicable43−0.04−0.34 to 0.260.045
Active, Production0.37< 0.001Not applicableNot applicable200.35†0.583
Canceled−0.050.390Not applicableNot applicable56−0.09−0.35 to 0.170.058
Note: † Base under 30. No interval is reported. ‡ Base under 10. No statistic is reported.

The count was not associated with intent to leave (r = 0.07, cluster bootstrap 95% CI −0.09 to 0.23, p = 0.408 with standard errors clustered by engagement, n = 798 respondents). The test that treated respondents as independent gave p = 0.049. Every respondent on an engagement carries the same count, so that test overstates the evidence, and the clustered test governs. The association held after Holm correction in five of the 28 segment levels tested, each with higher intent to leave on engagements with more individual contributors among the respondents. These segment tests also treated respondents as independent.

Comparison of Associations Across the Four Measures

Table 11. Associations across the four measuresTable
MeasureFormUnitnr95% CIpEquivalent to zeroRank among the four
Cancellation rateDescriptive contrastEngagement1500.09−0.07 to 0.240.286Yes1
Customer satisfactionClean estimateEngagement940.00−0.21 to 0.200.966Yes4
Engagement indicator meanFullEngagement150−0.08−0.23 to 0.080.346Yes2
Intent to leaveRespondent level, clusteredRespondent7980.07−0.09 to 0.230.408Yes3
Table 12. Pairwise comparison of associationsTable
Pair comparedDifference in rSteiger zpHolm pReading
Cancellation rate and customer satisfaction0.000.100.9231.000Did not differ
Cancellation rate and engagement indicator mean−0.01−0.170.8691.000Did not differ
Cancellation rate and intent to leave0.000.090.9321.000Did not differ
Customer satisfaction and engagement indicator mean−0.01−0.290.7711.000Did not differ
Customer satisfaction and intent to leave0.000.040.9661.000Did not differ
Engagement indicator mean and intent to leave0.010.310.7571.000Did not differ

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, none of the six pairs differed. Every association was near zero.

Clustering and Effective Sample Size

The count is recorded once for each engagement, so every respondent on an engagement shares its value. Every test of the count used engagements except the respondent-level form of intent to leave. That form used standard errors clustered by engagement.

Equivalence Tests of Null Results

Table 13. Equivalence tests of null resultsTable
MeasurenrEquivalence boundTOST p, lowerTOST p, upperEquivalent to zeroAchieved powerMDE at power 0.80Detection floor for this n
Cancellation rate1500.09|r| < 0.30< 0.0010.004Yes0.960.230.23
Customer satisfaction940.00|r| < 0.300.0020.001Yes0.840.290.23
Engagement indicator mean150−0.08|r| < 0.300.002< 0.001Yes0.960.230.23
Intent to leave7980.07|r| < 0.30< 0.001< 0.001Yes1.000.100.23

All four associations were equivalent to zero. No result was inconclusive. The detection floor shown is the study floor at 150 engagements.

Robustness Checks

Table 14. Robustness checksTable
CheckMeasurePrimary rCheck r95% CIChangeConclusion holds
Rank correlation in place of PearsonCancellation rate0.090.10a0.01Yes
Rank correlation in place of PearsonCustomer satisfaction0.00−0.03a−0.02Yes
Rank correlation in place of PearsonEngagement indicator mean−0.08−0.09a−0.01Yes
Rank correlation in place of PearsonIntent to leave0.070.08a0.01No
Active engagements onlyEngagement indicator mean−0.08−0.05−0.25 to 0.150.02Yes
Active engagements onlyIntent to leave0.070.05−0.04 to 0.13−0.02Yes
Most influential engagement removed (largest Cook's distance)Cancellation rate0.090.11−0.05 to 0.260.02Yes
Most influential engagement removed (largest Cook's distance)Customer satisfaction0.00−0.04−0.24 to 0.17−0.04Yes
Most influential engagement removed (largest Cook's distance)Engagement indicator mean−0.08−0.11−0.27 to 0.05−0.03Yes
Most influential engagement removed (largest Cook's distance)Intent to leave0.070.110.04 to 0.180.04Yes
Engagements weighted by respondent countCancellation rate0.090.08a−0.01Yes
Engagements weighted by respondent countCustomer satisfaction0.000.01a0.02Yes
Engagements weighted by respondent countEngagement indicator mean−0.08−0.06a0.02Yes
Bootstrap of engagementsCancellation rate0.090.09−0.07 to 0.250.00Yes
Bootstrap of engagementsCustomer satisfaction0.000.00−0.21 to 0.200.00Yes
Bootstrap of engagementsEngagement indicator mean−0.08−0.08−0.24 to 0.080.00Yes
Bootstrap of engagementsIntent to leave0.070.07−0.09 to 0.230.00Yes
Thin-base segments removedCancellation rate0.090.09−0.13 to 0.310.01Yes
Thin-base segments removedCustomer satisfaction0.000.04−0.23 to 0.310.05Yes
Thin-base segments removedEngagement indicator mean−0.08−0.07−0.28 to 0.150.01Yes
Thin-base segments removedIntent to leave0.070.04−0.06 to 0.13−0.03Yes
Note: a No interval for this check.

Each change was computed before rounding and may differ by 0.01 from the difference between the two printed values.

Twenty of the 21 checks held. A check holds when its test falls on the same side of 0.05 as the primary test. One check failed. With a rank correlation in place of Pearson's r, intent to leave reached r = 0.08, p = 0.031. That check treated respondents as independent, while every respondent on an engagement carries the same count. The failure does not change the reading of the clustered result.

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

Table 15. Comparison with the study normTable
MeasureThe indicator, oriented rStudy median, oriented rDeviationFisher zpHolm p
Cancellation rate−0.090.60−0.69−9.43< 0.001< 0.001
Customer satisfaction−0.090.72−0.81−12.09< 0.001< 0.001
Engagement indicator mean−0.080.84−0.91−15.60< 0.001< 0.001
Intent to leave−0.090.71−0.80−11.91< 0.001< 0.001
Spread of deviations0.23
VerdictDivergent

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 count departed from the study's typical pattern on all four measures. The typical indicator is a rating with a strong association with each measure, and the study medians ran from 0.60 to 0.84. The count is not a rating, and its associations were near zero.

Interpretation of the Data

The number of individual contributors among an engagement's respondents was not associated with cancellation, customer satisfaction, the engagement indicator mean or intent to leave, and each association was equivalent to zero. Engagements with more or fewer individual contributors among their respondents did not fare differently on the study measures. The count was higher on LOB operational engagements than on corporate functional engagements.

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. Canceled engagements were described after cancellation.

The count records respondents and not the staffing of the engagement. It reflects how many individual contributors on each engagement responded to the survey as well as how many the team held.

The segment tests of intent to leave treated respondents as independent. Every respondent on an engagement carries the same count, so those tests overstate the information in the respondent answers.

Definitions

Table 16. DefinitionsTable
TermDefinition
Response scaleA whole number of respondents, as recorded on the Engagements sheet. The field is not a rating. No distressed range applies.
Answering baseEvery engagement. The field is recorded for each engagement.
Indicator classEngagement attribute: a property of the engagement rather than of the respondent, recorded once for each engagement.
Failure categoryThe five failure categories of the Study Taxonomy apply only to the rated indicators. The field carries none.
Individual contributorOne of the four roles a respondent could give in answer to C005, “What is your role on this engagement?”.
Engagement indicator meanThe mean of an engagement's ratings across the rated indicators. The field does not enter it.
Clustered testA test whose standard error allows for the answers of respondents on the same engagement to be alike.
Equivalence testTwo one-sided tests of whether an association lies inside the bound shown. A result inside the bound is equivalent to zero.

Sources and Provenance

Table 17. Sources and provenanceTable
SourceValue
Study dataStudy Data.xlsx, Engagements sheet, sha256 219eba0457274d04
Statistics enginecompute_statistics.py, sha256 738319eef764602b
Statistics recordComputed Statistics.json, record ENG:IC Respondent Count, sha256 1ae50a3637fc9370
ComputedOctober 13, 2026, 04:57 UTC
TemplateIndicator Template v2, version 2.0 of 10 October 2026
Figures placed by script1,995

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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