Brett is an Associate Partner at The Intelitech Group, a consulting firm exclusively focused on the accounts receivable industry. Although Sivits consults for clients in all areas of the accounts receivable industry he spends most of his time working to improve the education and support that frontline collectors and their coaches receive. Sivits believes passionately that programs that support this core component can result in the change that many in the industry are seeking without compromising collection rates. If you have questions or comments for Sivits please contact him at firstname.lastname@example.org.
One almost universal constant in the industry is that collectors receive a bonus or commission. I have been part of literally hundreds of discussions extolling the virtues of this model or that, and have authored many schemes myself. However, today I propose a new approach. I would suggest the possibility that collectors no longer receive a bonus at all.
Collectors have understood for years that to be successful on a collection call they simply needed to discover the conflict and resolve the consumer’s issues. While overcoming objections is still a valuable skill, though, it is ultimately not enough. Jason Houston and Brett Sivits of The Intellitech Group share seven actionable items from their Collection Equation Checklist.
Four simple litmus tests collection agencies can deploy to avoid hiring a proverbial bad apple.
The checklist is a poor model to run any business by because it implies that once you check something off the list it’s complete. Even worse, what happens to people when training is a line item on your checklist?
Urban myths are stories that are untrue and yet with some variations are told and believed by people all over the world. Myths are so powerful because they are passed down from someone you trust and generally contain some elements of truth. Personally I remember a story told to me by my brother of a […]
Many in the ARM put focus on training, especially for new employees. And this is very important. But creating a culture of learning in a collection agency can pay greater dividends for differentiating your company.