Best Advice For Employee Retention

The Key Points

  • Create a home for employees where employees enjoy coming to work. It's a tough industry to be in but if you can make them enjoy coming to work that's half the battle.
  • Have an open floor and open door policy where employees feel free to communicate and have management to talk to. It shows that their opinion means something.
  • Focus on helping not only your clients but helping consumers. If your collectors and collection associates go into it with mind frame, then it goes a long way to retaining your employees.
  • Make sure to spell out what collectors will be doing day to day in job interviews. This job just isn't for everyone.
  • Use referrals as a source of employees. When people get referred in, they know what they're coming into. Debt collection's tough, and they know what to expect.
  • One of the most important qualities to succeed as a collector is patience, empathy, and listening skills. Our industry's gone a long way in the past 5,10, 15 years from more telling people they need to pay now to more of a customer service approach. Make sure collectors understand this.
  • At career fairs, you have to have the same energy at the fair that candidates are going to expect at work. That's going to attract people to your booth and make them excited to work for you.
  • As a way to improve employee engagement, run contests, have employee appreciation week, run surveys and have one-on-ones to make sure everyone is happy.
  • If people see you're out there doing good things in the community and good things with your employees on social media, consumers will be more likely to put their guard down for your company.

Looking for more educational information? Check out these Debt Collection 101 episodes covering Debt Collection Recruitment Strategies and Keeping Collectors Motivated in the Workplace.

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