Collector - May 2015

It’s fairly easy to look at your current staff of collectors and identify who is uccessful and who is not. This determination is likely based on a combination of actual collections, compliance, teamwork, dependability, and perhaps some other characteristics.

What’s more difficult is looking at a group of candidates who have applied for your collection jobs, and identifying who will be successful, if hired, and who will not. What characteristics differentiate the superstar collectors from the mediocre collectors?

Achievement & Reward Orientation

Successful debt collectors are motivated to achieve and exceed goals— goals that someone else has likely set for them, and goals that are likely tied to some sort of incentive.

These goals might be rooted in collection rates, compliance standards, call monitoring ratings, call time or any number of other standards.

The whole notion of, “The harder I
work or the better my performance, the
more rewards I earn,” simply does not
motivate some people—that is not what
makes them tick. As an agency leader, you
need employees who are motivated by
the reward structure you have in place.

Drive

Just like good employees in virtually any job, successful debt collectors are reliable, industrious and persistent. They understand the importance of showing up for work, on time, every day.

When they are at work, they are there to work rather than talk with coworkers. It is difficult for collectors to produce if they are either not at work or view work as a chance to catch up with friends.

Efficiency

Highly successful collectors are quick-thinking, alert and able to juggle multiple priorities simultaneously. They can listen to what someone is saying on the telephone while simultaneously reading through account notes and records.

Similarly, they can pick up on what someone is telling them verbally and quickly integrate this information with what they already know.

Optimism

A collector’s job is difficult—this is not news to anyone. All day, collectors attempt to make contact with consumers, and often have difficult conversations with people who do not necessarily want to talk to them.

To be successful, collectors need to remain calm, even when dealing with difficult situations or difficult people. In light of the increased regulations surrounding the collection industry, agency leaders cannot afford to have employees who lose their temper with

What Makes a Good Collector?

Identifying the characteristics behind superstar collectors can help streamline your hiring process

consumers—even when they are intentionally provoked.

Finally, successful collectors remain cautiously optimistic, and recognize that, as cliched as it sounds, sometimes bad things really do happen to good people. Not everyone is trying to get out of paying a debt. The successful debt collector can effectively separate fact from fiction.

Collections Mentality

Successful collectors believe that anything can be negotiated, and that it is simply a matter of asking the right questions and finding the right solution. They are assertive—not aggressive— while still being professional, and they continue to probe into possible solutions with consumers until they find a solution that works for everyone.

This is in contrast to a collector who
thinks, “They said that they can’t pay their
bill, so I guess they can’t pay their bill.”
But these characteristics do describe the
work habits and motivational tendencies of
highly successful collectors. While it is
certainly possible for people who differ
from the profile described here to be
satisfactory collectors, they will most likely
not be one of your superstars. cm

Dr. Brad Chambers is senior vice president and chief operating officer of Polaris Assessment Systems. He can be reached at bchambers@polaristest.com or (513) 755-0186.