It is no secret that the challenges
associated with the collections industry have grown greatly in recent years.
Today, debt collectors are faced with the challenge of trying to meet
ever-changing compliance regulations. They also must deal with the (often
unfair) actions of predatory law firms, as well as the pressures imposed by
federal regulators. On top of all of those challenges, however, there is also
the very serious challenge of hiring the right collections professionals.
Who a collection agency hires really
makes all the difference. The right staff members will follow all rules related
to compliance and will also be profitable. The wrong ones, however, can put the
entire business at risk and potentially cause legal troubles and lawsuits.
Finding and hiring the right employees is difficult enough, but once hired,
these individuals have to be trained intensely in order to prepare them for
following all laws and requirements and being successful in general.
Obviously, a lot of work must go
into finding, hiring, and training the right people; unfortunately, a great
deal of money is typically involved as well. Modern collection agencies,
however, can reduce some of their hiring expenses by taking advantage of
low-cost or free employment websites, which include:
·
Monster.com
·
Beyond.com
·
Simplyhired.com
·
AOLJobs.com
·
SnagaJob.com
·
CareerBuilder.com
Other resources do exist, and it is
imperative that collection agencies look at all of their options and carefully
weigh the pros and cons of each to find the “perfect fit” for their particular
organization.
Once collections agencies have found
candidates who could be right for the positions available, the next step is to
go through the interviewing and, essentially, the “weeding out” process for
potential candidates. To make this part of the process a bit more foolproof and
less involved, many collections agencies are turning to human resource
assessment companies, which utilize time-tested strategies to select appropriate
candidates. Some outside HR companies that other debt collection agencies have
had success with include:
·
AssessmentCompany.com
·
WindridgeConsulting.com
·
DiscPersonalityTesting.com
·
OmnioGroup.com
Whether debt collection agencies
make use of such resources is, of course, entirely up to them, but these
resources can certainly prove helpful in reducing the time and cost associated
with finding and hiring employees.
Regardless of whether such resources
are used, the bottom line is that the overall success of any business, but
especially a debt collection business, is largely dependent on hiring the right
employees.
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