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How to Start a PEG (Profit Enhancement) Group
What is a PEG Group ?
The PEG concept, based on the original premise of the the 40% Club, permits owners or senior management representatives the opportunity to review and compare gross revenues and expenses with other industry colleagues for the purpose of using the comparative exercise as well as the accompanying discussions to assist each member with improving their bottom line. This often includes challenging each other to review areas of operation that may seem, at least statistically, to be outside the norm of the collective. PEG groups are normally limited to eight members maximum simply for logistical purposes and meetings are scheduled on a quarterly basis to review figures from the previous quarter. Decisions as to where to meet vary from PEG group to PEG group, however the location is often chosen based on what is the most convenient and cost effective for the majority of the members.
Why is a PEG group a good idea for companies in the Call Centre industry ?
One member said it best when they said “it’s like having to report to a board of directors”, something that most of us in our industry don’t do. In this light, PEG members end up acting as a “sounding board” of directors and although first meetings can be somewhat intimidating, the benefits of participation, including a clearer vision of your operation and a multitude of new ideas, start at the very first meeting.
How do you choose who to be in your PEG ?
Because of the nature of a PEG group, the sensitivity of the figures reviewed and the accompanying discussions, PEG members need to have a high level of comfort between themselves in order to be the most effective. Generally speaking, members seem most at ease when they are from different marketplaces, this in spite of the growing amount of overlap within our traditional marketplaces.
How to get started ?
PEG members understand the benefits of sharing so if you’re thinking of setting up a PEG group it’s probably fairly realistic to think that you’ll get all the mentoring and help you need by approaching an existing PEG group member. The direction you’ll get with how to conduct meetings and assistance with an EXCEL template for purposes of members being able to compare apples to apples will help you be up and running in no time at all.