No Train, No Gain: The Importance of Training Collections Employees

Education is important in today’s world. In fact, when people don’t have an education, their career options are very often limited. On the flipside, though, an education is not always a guarantee of a job, and many people who have great educations are struggling to make ends meet and, even worse, to pay off student loan debt.     

It is, more often than not, these well-educated but unemployed (and desperate!) candidates who make the best collections agents. Even if their degree is not relevant to collections, their degree IS proof that they can work hard and finish what they start and that they’re results-driven, which is exactly what one wants in a collections agent.

Collection agencies that hire these recent grads will do well to incorporate some tested, proven training strategies to introduce their new employees into the collections world and to help them thrive.

So much of modern-day “training” is really just about drilling in the basics and getting workers “on the floor” as soon as possible. However, in order to have better employees, and thus, better productivity and general success, it is imperative that companies focus on real education- educating employees on strategies to be more successful collections agents, techniques that can be used to get a person to make a payment, and just real skills that will prove necessary in the person’s career and that, in the long run, will benefit the company.

 This type of real, involved training is definitely worthwhile, even if it takes a bit longer than simpler, more basic training. Furthermore, when hiring people who are used to schooling and learning, i.e. college graduates, most businesses find that these young people are highly receptive to and appreciative of the training they receive and that they ultimately end up benefiting immensely from it.

In addition to hiring college graduates and going for more involved “big picture” types of training, collections agents are advised to also do the following for more successful training of employees:

·        Hiring and working with a training manager or director who focuses exclusively on training new recruits.

·        Having a clear and detailed training agenda that fits into the overall business schedule.

·        Regularly assessing new employee needs and weaknesses and addressing them in future training sessions.

·        Develop training modules that can be completed on the employee’s own time.

·        Keep careful track of training hours and details for future use.

Training employees may not be easy or fun, but it’s definitely worthwhile, so collections agencies are encouraged to give employee training their all. The hard work will pay off in the form of loyal, dedicated, and successful employees, and that’s definitely worthwhile.