There is a new generation of individuals entering the workforce, and collection operations of any shape or size need to adjust their recruiting techniques and strategies to appeal to what this new generation is looking for most — work-life balance — or risk having significant difficulties hiring...
Teaching adults is different than teaching children. It’s doubtful that anyone will question that statement. Understanding how adult learners are different from children — usually because adults need to understand the “why” behind what they are being taught — is important to companies in the ARM...
In the fast-paced and often high-pressure world of today’s collection industry, retaining new hires is a multifaceted challenge. Companies are increasingly recognizing the need to blend flexibility, engagement, and support to keep their workforce motivated and productive, experts discussed during...
Race cars, Power Rangers... There are a number of different analogies and examples that can be used to describe how all of the employees inside a collection operation need to be performing together for the operation to be successful. Looking at all of the employees inside an operation as a team...
Rodney Dangerfield went “Back to School,” didn’t he? So why can’t aspiring debt collectors do it, too? Many might not remember Dangerfield and the 1986 classic movie where the then-65-year-old comedian played a father who enrolled in college to be with his son (totally worth re-watching if only to...
Teaching someone to be a collector is a fairly straightforward process because you know at the end of the training, you want those individuals to be able to collect debts compliantly, empathetically, and persuasively. Teaching someone to be a manager is an entirely different process because at the...
Everyone who has a driver’s license knows how to drive a car. We know what pedal makes the car move and which one makes the car stop. We know which way to turn the steering wheel to make the car go to the left and which way to turn the wheel steering wheel to make the car go to the right. But...
Good collectors understand that winning a call is about getting a payment from a consumer, not winning a debate or conversation about who is right and who is wrong. It can be just as important not to address certain comments that a consumer might make during a conversation just to keep it flowing...
Companies have had to get creative during the past couple of years, starting with the outbreak of the COVID-19 pandemic and now dealing with the impact of The Great Resignation, and while technology has helped offset shortages in labor or changes to workflows, thinking outside of the box is also...
There is a lot of muscle memory in being a debt collector. From the time you begin training to the many similar phone conversations that are had day in and day out, there is a lot of repetition. It can be tough to unlearn certain behaviors and it can be easy to fall back into old habits. This has...
Conversations between collectors and consumers are like snowflakes, in that each of them are unique and one-of-a-kind in their own way. Consumers can be hostile, skittish, uncertain, embarrassed, aggressive, confused, or some combination of any or all of those emotions. Making any of those types...
Listen to the Webinar Recording/Download the PDF BelowGiving effective employee feedback is a valuable but sometimes poorly executed or even neglected skill. While effective feedback can grow and develop staff, improve levels of trust and communication within an organization, and strengthen bonds...