After pressing either 1 or 2 to confirm if you are calling from your phone or not just press 0 and you should skip through to an operator much quicker.
I have no affiliation whatsoever with O2 or any subsidiary companies. Comments posted are entirely of my own opinion. This is not Customer Service so we are unable to help with account specific issues.
If you are going through to retentions then sadly wait times are long. Not that long ago over an hour plus was the norm but I think it has quietened down a bit now. Saturdays are always busy. Try during the week around 8.30am.