It might not seem like much until you sit down and actually quantify it, but hiring a job applicant who is not a good fit for your company can be a very costly mistake. Not just in the money that you spend on screening, training, and compensating the employee, but the money it takes to screen,...
Training new collectors is relatively the same whether it is being done in person or remotely, but the other aspects of bringing in new employees are not so easily replicated when those individuals are not in the office together, and companies need to make sure to focus time and attention on...
Training collectors, whether they be new hires or seasoned veterans in need of a refresher, is an expensive process for collection agencies. Not only does the trainer have to be paid, but every minute that a collector is not on the phone trying to collect is lost money. On top of that, training...
Hiring and training a new employee is like building the foundation for a house. If it’s done correctly, the house will proudly stand the test of time. If it’s done incorrectly, it won’t stand a chance and will cause nothing but headaches for the owner. If that seems like the stakes are high for...
The further away that collectors get from the office, the more closely that they need to be monitored, although for the most part, what they are being monitored for is largely the same as when they were in the office, according to a panel of executives who spoke on the topic recently during a...
Hiring employees in the credit and collection industry today has become a delicate balance of making sure the candidate demonstrates that he or she is hungry for the position while also not taking too long to extend a job offer, or risk the candidate taking a job somewhere else. The days of...
Training collectors, especially those who have been working at an agency for a period of time, is a great idea. But the idea of having to take them off the collection floor and take time away from being on the phone to train them, especially as the industry is heading into its busiest time of the...
In today’s job market, individuals can be a lot pickier about where they work. Hundreds of resumes that are submitted turn into a handful of viable candidates who actually show up for the interview, and maybe one or two people accept an offer and make it through lunch on the first day. Finding...
It can be very easy for collection agencies to get bogged down in what is known as “analysis paralysis” when attempting to figure out the productivity of collectors, because there are so many different data points and variables that can be factored into an equation. But just because there are so...
There are apps out there now that imitate the voices of real people and individuals are using them during phone conversations with collection agents as a means of wasting an agent’s time and making it impossible to collect on a debt. That was just one of a number of important topics discussed...
While posting a job ad online can generate a ton of responses and likely lead to identifying potential candidates, collection agencies should be looking outside of the traditional hiring pipelines to identify the best possible talent, a panel of industry executives shared during a webinar...
Not every employee that a collection agency hires is going to be promoted. While many collection agencies look to promote from within, identifying the right candidates who might make good managers, supervisors, or even executives is not an easy job. How can a collection agency identify someone who...