Training Experienced Collectors

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Existing Collector Training
Randy Kamm, Vice President
The CBE Group, Inc.
[email protected]
1
Existing Collector Training
GRCA Annual Conference, May 2010
Training existing collectors can be challenging and
rewarding.
Effective trainers take into account the uniqueness of
each individual with whom they work. How do you
help your existing collectors stay actively engaged
on the job?
In this session, we will look at how one collection
firm helps keep this important set of team members
fresh, focused and contributing to the bottom line.
Together we will look at a proven training and
organizational development program that keeps these
valuable veterans contributing to organizational
success.
• Iowa-based debt collection firm currently
employs nearly 1000 people celebrating its 76th
year of service
• With more than 850 clients, CBE represents
many of the nation’s most renowned and
respected organizations. CBE serves a variety
of industries including government, healthcare,
utilities and telecommunications, financial
services, and education.
• Corporate headquarters located in Waterloo,
Iowa, with additional facilities in West Des
Moines, IA; Overland Park, KS; and Atlanta,
GA
The CBE Difference
“Defining the future of debt collection”™
• Investment in and integration of past, present and
future initiatives that identify weaknesses in both
the debt collection industry and within CBE – and
develop solutions that meet weaknesses head-on:
• Workforce Philosophy – Satisfied employees create
satisfied clients, consumers and working relationships
• Strong competitive performance without generating
complaints or sacrificing quality service
• Innovative and intuitive technology that facilitates high
productivity, regulatory compliance & data security
Core Values form our foundation
• Leadership, Integrity, Respect, Innovation and
Continuous Improvement
• Leadership – We develop leaders...
We foster trust and collaboration to develop leaders focused on
sustainable, superior performance. We set positive examples and
invest in others so that they can follow the guidelines of leadership.
• Integrity – We do the right thing…
We conduct our business in accordance with the highest standards of
professional behavior and ethics. We are transparent, honest and
ethical in all our interactions with employees, clients, consumers,
vendors and the public.
Core Values
at the heart of our decisions and actions
• Respect – We treat others as we expect to be
treated…
We embrace each individual’s unique talents and honor diverse life
and work styles. We operate in a spirit of cooperation and value
human dignity.
• Innovation – We anticipate change and shape it to fit
our purposes…
We acknowledge the weaknesses within our industry and create
ethical, forward thinking solutions to overcome them. We identify,
develop and deploy leading edge technology, employee development
programs and process improvement tools.
Core Values
guide our way to the future of debt collection
• Continuous Improvement – We are a learning
organization…
We measure, monitor, analyze and improve productivity, processes,
tasks and ourselves to satisfy clients and stakeholders. We work with
enthusiasm and intellect, and are driven to surpass what has already
been achieved. We are not afraid to stand alone, especially when it is
the right thing to do.
To learn more about CBE, visit our website:
www.cbegroup.com
CBE’s Commitment to Training
• Dedicated effort helping our people have the tools
they need and an environment that’s richly geared
for productivity and satisfaction
• Strengths, Engagement, and Teamwork
• Training, Instruction and Testing
• Accountability, Measurement and Results
• Management commitment key in fostering a
meaningful learning environment
• CBE collectors’ rallying cry:
“The future of debt collection starts with ME!” ™
8
Why invest in training?
• Investment in our most valuable
resource – Our People
• Satisfied employees create satisfied
customers and consumers
• Makes life easier for each other and
focuses energy in the right direction
• Breaks down silos and creates high level
of synergy
• Encourages and cultivates best practices
• Reduces turnover, mistakes and errors
• Lowers expenses and litigation costs
• Enhances revenue and profitability
• It’s the right thing to do!
9
Strengths & Engagement
How do you help your employees
massively outperform?
Find their talent. Focus on engaging your
people’s strengths!
10
Definition of a Strength
• Which definition is better?
“a strength is something you are good at”
OR
“a strength is an activity that leaves you feeling strong”
Marcus Buckingham
Strengths are opportunities
• Most learning programs aim at what you are not
“You can be anything you want to be, if you just try
hard enough.”
• Maybe it really should be…
“You cannot be anything you want to be-but you can
be a lot more of who you already are.”
• Managers have a responsibility to manage around
weaknesses
• Focusing on strengths is the greatest opportunity
for success
Tom Rath, Strengths Finder 2.0
12
Strength’s Importance
• Studies indicate that people who have
the opportunity to focus on their
strengths every day are
• six times more likely to be engaged in
their jobs
• three times as likely to report having
an excellent quality of life in general
• Every person has strengths waiting to be
uncovered
Tom Rath, Strengths Finder 2.0
13
What happens
when you’re not in the Strength Zone
• Dread going to work
• Have more negative than positive interactions with
your colleagues
• Treat customers poorly
• Tell friends what a miserable company you work
for
• Achieve less on a daily basis
• Have few positive and creative moments
Tom Rath, Strengths Finder 2.0
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Top 5 Collector Strengths
Collectors
• Empathy
• Strategic
• Achiever
• Relator
Management
Administrative
• Responsibility
• Achiever
• Responsibility
• Responsibility
• Achiever
• Strategic
• Harmony
• Competition
• Relator
• Relator
• Strategic
GREEN = Striving BLUE = Thinking PURPLE = Relating RED = Impacting
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What is Engagement?
People
Culture
Engagement
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…And why it’s so important
for your collection results
Engaged or
Sweet Spot
21%
Not Engaged
or Neutral
63%
Actively
Disengaged
or Bitter
16%
“Show me
the Money!”
“The
Improvement
Zone!”
“…Retired On
Active Duty”
Towers Perrin
Key Elements of Engagement
• Understand collectors’ different “learning styles”
and how to engage their differences
• Emotional
• I care about the future of my organization
• I’m proud to work for this organization
• My organization inspires me
• Rational
• I understand how my department contributes to
organizational success
• I see how my role impacts the organization
• I am willing to put in extra effort for organizational
Towers Perrin
success
Why does Engagement matter?
• Engaged collectors “go the extra mile”
• Employee’s willingness and ability to help their
organization succeed by freely and consistently
delivering discretionary effort on the job
•
•
•
•
•
•
•
Higher job satisfaction, positive culture and teamwork
Improved retention and productivity
Lower costs and improved quality service
Satisfied consumers treated fairly and respectfully
Satisfied and loyal clients
More consistent and dependable collection results
Stronger revenue growth and profitability
The Gallup Organization
Engagement + Teamwork
= Satisfied Employees
Teambuilding Exercise
The Service-Profit Chain
Harvard Business Review
22
New Hire
Professional Training
Existing
Collector
Training
Management
Training
Personal
Team
Building
Issues
CBE Online
Quality
Assurance
Team
Building
with
Clients
DA
CBE’s
Issues
“Circle of
Learning”
Annual
Trainings
Recap
Client
Implementat
ion
E-Learning
New Hire
Transfer
Meet and
Greet
Training
Covey
Kolbe
Strengths
23
All for One and One for All
Operations
Organizational
Development
Compliance
24
Desired Training Outcomes
Know what you want to build
• Be professional and courteous at all times
• Provide Mini-Miranda/Quality Assurance at the
beginning of each and every call
• Listen to the Consumer
• Determine ability-to-pay, seek Consumer-specific
solution and ask for payment
• Control Third-Party disclosure
• Manage appropriate use of talk time
• Clearly summarize Consumer commitment
• Professionally close the call
Maintain, Repair, Enhance
Continuously
• Communicate your expectations and
requirements
• Inspect what you expect
• Review, Remind, Reinforce
• Look for ways to make your concepts
“sticky”
• Coaching/Mentoring
• Stories
• Activities
• Seek continuous improvement
New Hire Training
Course Titles
• FDCPA and State Laws
• Talk off and Negotiations
• 8 Steps to a Collection
Call & Time Management
• Collection System &
Dialer
• Skip Tracing
• Action Result Codes
• Testing and Certifications
• Common
Objections/Rebuttals
• Voice Rapport
• Team Building
• Guest Speakers
• Shadowing
• Live Calls with Trainers
Training Length
• 3 weeks (High Volume High Balance/Low Balance,
Healthcare, Utility and
Telecommunications)
• 4 Weeks (Government,
Education & Specialized
Programs)
Training, Instruction & Testing
Existing Collectors
• Individual Collector QA Reviews (Monthly)
• Cross functional teams (Operations, Compliance,
Organizational Development) review seven call
recordings and voice analytics with each collector
• Collector Performance Metrics
• Best Practices and Areas of Opportunity
• Identify issues and trends that will help training
• Refresher Training (On going schedule)
•
•
•
•
Talk off & negotiation refresher
Collection System enhancements
Compliance & quality control
After Call Work (ACW) and documentation
Training, Instruction & Testing
Existing Collectors
• FDCPA and State Laws (All employees – 2x year)
• Privacy and Security training (All employees – 2x
year)
• One-on-one sessions
• Recognize positives and focus on improvement areas
•
•
•
•
Portfolio/Client/Department Updates
Off-Site Teambuilding and “booster shots”
Mentor Program
Management Development
Training, Instruction & Testing
Every Employee in the Company
• CBE University and CBE Online (Voluntary)
• Technical - Excel (Basic), Skip Tracing, Project Management,
Advanced Excel I, II, III, Voice Rapport, Understanding
performance reports…
• Interpersonal - Understand your Personal Strengths, Advanced
Strengths, Dealing with Difficult People, Communication, Tough
Talks, Time Management, Stress Management, Preparing for
Promotion, Neutralizing Negativity, Negotiation, Generational
Issues…
• Managerial and Leadership - 5 Dysfunctions of a Team, 3
Signs of a Miserable Job, Team Building Ideas for Leaders, Tough
Talks, Time Management, Motivating Your Employees, Managing
Millennial, Leading with your Strengths, Effective Meetings…
Training, Instruction & Testing
Every Employee in the Company
• 7 Habits of Highly Effective People – Franklin Covey
– Certification Training (Every employee)
• Habit 1 – Be Proactive
• Habit 2 – Begin with the End in Mind
• Habit 3 – Put First Things First
• Habit 4 – Think Win/Win
• Habit 5 – Seek First to Understand, Then to Be
Understood
• Habit 6 – Synergize
• Habit 7 – Sharpen the Saw
• Seeking balance, satisfaction and effectiveness in
one’s personal life and work world
E-Learning Initiative
• E-Learning is major initiative now underway
• Implement at all levels of organization to meet
increasing future demands and needs of the
organization
• Deliver in employees’ preferred learning styles
• Increase efficiency and effectiveness while removing
need for a training facilitator for many applications
• Deliver on-demand training presentations, testing
modules and recordkeeping to measure improvement
Taxpayer Satisfaction
Accountability, Measurement & Results
• IRS Contract demonstrated superior taxpayer
satisfaction ratings, compliance, professionalism
and recovery performance
• Virtually no validated complaints (4 out of 100,000+
accounts handled)
• 99% (Regulatory, procedural and customer accuracy)
• 99.4% (Timeliness of collection actions)
• 99.9% (Professionalism)
• Less than one-half percent asked to be returned to IRS
• $82.5 million collected and 31% of all accounts resolved
in 30 months of IRS project
CBE University
Participation and Performance
• 60% of all employees attended at least
one CBE University session in 2009
• 54.7% (380 of 694) of collection staff
attended CBE University sessions
• 95% Retention Rate for collectors who
participated in CBEU – a major factor in our
low turnover rate
• 82% Improved Monthly Performance
Scores – compared to 60% improvement for
non attendees
Collector Performance
after CBE University
90
80
70
60
50
40
30
20
10
0
Average Average
CPM
CPM
Score
Score
Improved Declined
CBE U Participants
Non - Participants
Complaints & Lawsuits
Accountability, Measurement & Results
• Low number of lawsuits and validated complaints
for agency our size
• Of Top 200 collection agencies in nation, CBE ranked
with fewer federal lawsuits filed in 2009
• In 2009 no judgments and nearly 60% of all lawsuits
dismissed as frivolous
• Each year fewer ‘serial’ lawsuits filed by consumer
rights attorneys because of our superior record for
FDCPA compliance and documentation (100% call
recording)
• Annual survey finds we are highly rated and respected
by states’ Attorneys General
Turnover & Retention
Accountability, Measurement & Results
Employee Turnover by Year*
Company
Wide
CBE
University
Participants
2007
2008
2009
82%
70%
36%
7%
5%
4%
* Industry statistics indicate typical collection agency turnover/attrition
rates exceed 100% on average, per year.
Summary
Existing Collector Training
• “Success Factors” for training, motivating and
engaging collectors to do the right things
•
•
•
•
•
Know what you want to build
Choose people who fit
Focus on strengths, engagement and teamwork
Provide solid footing with effective training
Build strong management to offer support and
leadership
• Maintain, repair, enhance continuously
Thanks from the CBE Group
Enjoy your 2010 GRCA Conference!
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