Collectors: Where to Find Them and How to Keep Them

While attending this year’s ACA Convention, I was able to network with creditors and collection agency managers. One concern of many was where to find good collectors. Without them, your day-to-day call center or agency goals cannot be achieved. Another question was, "Once you have found them, how do you retain them?" There is no magic answer, but from the conversations I’ve had with industry professionals, the story seems to be the same across the board.

Some companies are looking to target candidates fresh out of college. But are these companies able to attract young talent? It’s not as if many people are hoping, that when they graduate from college, they would like to have a career as a bill collector. So how do creditors and agencies approach them to even consider the opportunity? Some collection professionals have said that they offer "management training programs" with a high bonus potential. And this is where creditors may have an edge. Working for a well-known consumer company is sometimes enticing to young job seekers. However, recruiting from colleges and/or from a local newspaper is often a dead end in these types of searches. Even when this recruitment effort is successful, it tends to lead to a high turnover rate.

One way to help retain these much needed employees can be through training and development. You can’t just throw a new collector into the ring and expect a happy educated employee. Many employee-focused companies are offering effective classroom and floor training programs that will help to educate their collectors. However, whether a company is big or small, it is not always in the budget to hire training specialists.

This might be the time to consider an industry specific recruiting firm. It isn’t so much to source collector candidates, but simply to acquaint you with a contract recruiter/trainer that is well versed in collections and all the FDCPA regulations that apply. This person can work onsite and recruit experienced local collectors for you. Once a group is coordinated, they can provide training to insure a level of consistency across the board. When the job is complete, the contract is complete. It’s a seamless method that has been proven to work for creditors and agencies alike.

Of course this is not the cure all. A friendly work environment with good communication, upward mobility and perks is always key. Let the public know that your company is "the place to work." Good news spreads quickly and hopefully in the future they will be knocking on your door and will not want to leave!

Susan Burden is a Vice President at Executive Alliance. Executive Alliance, an international recruitment firm, is the leading provider of human capital (recruiting) services to the Credit, Collections and Call Center Management industries. Our clients-major financial institutions, telecommunications companies, utilities and service organizations-have chosen to partner with Executive Alliance because of our proven ability to attract, identify and recruit exceptional talent. Additionally, clients and candidates alike can expect the highest level of industry knowledge, customer service and ethical conduct. Executive Alliance is the exclusive staffing partner of insideARM.com.