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Role playing and a supportive work culture: How this online broker equips staff for better customer service

In a monthly training session, Mr Shawn Jiang’s manager complained about not being able to withdraw her money immediately after selling her stocks. Only, the manager wasn’t really upset. She was merely taking on the role of an irate customer in order to help Mr Jiang hone his customer service skills.

Such sessions are part of online brokerage firm Tiger Brokers’ comprehensive training programme, which includes role-playing and one-on-one coaching sessions to help staff address customer concerns better. 

Through this, staff can develop their skills in various hypothetical situations and hone their own responses in a safe space, while at the same time receive valuable feedback. They are also equipped with step-by-step instructions on how to handle a variety of scenarios,  ensuring they are always prepared for any type of call.

By the time a customer service officer interacts with real clients, he or she has already rehearsed how to react in a variety of client situations.

“Good customer service means meeting and exceeding customer expectations,” says Tiger Brokers’ chief financial officer Henry Toh. “It involves providing prompt, friendly and knowledgeable assistance to customers, as well as addressing their needs and concerns effectively.” 

As more services move online, customer support is now more of a deal-breaker than ever before. For Tiger Brokers, the importance of quality customer service cannot be overstated.

Mr Toh recalls a situation where staff tapped on their role-playing training to help an upset customer who wanted to close his account. “By patiently providing a clear explanation of the fee structure and offering effective solutions to address his concerns, our dedicated customer service team eventually convinced the customer to reconsider his decision and successfully retained the customer,” Mr Toh explains. 

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These efforts have paid off. The online broker was recognised for the second time in a row in the Singapore Best Customer Service survey 2023/24 by The Straits Times and research firm Statista, in the sub-category of trading and brokerage services, under Real Estate and Banking.

Giving staff autonomy

Creating a healthy work environment also helps staff stay motivated and learn service skills from one another. Tiger Brokers makes it a point to foster an open and encouraging work culture where staff are willing to ask questions and clarify doubts without fear. 

The online brokerage firm also acknowledges that it has to train staff to respond to increased expectations for convenience, speed, efficiency, privacy and security.

Mr Toh shares, “Customers now want streamlined online experiences that are easy to navigate and that provide quick access to information. Fast issue resolution is also crucial, as they expect prompt solutions to their problems.”

As such, Tiger Brokers believes in giving staff the autonomy to meet customers’ needs. This allows them more decision-making power so they can resolve issues on the spot without having to seek approval from management. Customer queries thus get addressed much faster.

“Our quick response time demonstrates our commitment to resolving customer inquiries and issues efficiently,” says Mr Toh. “We strive to make every customer feel valued, heard and supported throughout their journey with us.”

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