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...
There is so much that a new collection agency employees needs to know. What the heck is the Fair Debt Collection Practices Act, anyway? Why can’t I threaten to break someone’s legs if they don’t want to pay their bills? And, most importantly, where is the bathroom? All kidding aside, training a...
Keeping an eye on employees needs to be a top priority at any collection agency, and not just because of increased compliance risks, according to a pair of executives who spoke during a webinar hosted earlier this week. The webinar, on the topic of monitoring employee performance, was sponsored by...
Sometimes, it’s as simple as a coveted parking spot that makes people feel wanted. When it comes to making employees feel wanted, the non-financial perks can matter just as much, and in some cases more, than what’s in an employees paycheck. A pair of speakers shared how their collection agencies...