How Effective is Your Training and Coaching?

 We all provide training, don’t we?

There are various types of training based on the need and the size of your organization.

  • Type A – This is where you throw the new collector to the wolves and let them figure it out themselves. Although somewhat dangerous these days with all the laws, some of the best collectors have been trained this way and have succeeded.  It becomes a sink or swim and is up to the collector to figure it out with minimal direction or formal training.
  • Type B – Another type is structured training where they are involved in a classroom environment with an instructor that covers all aspects of collections in either a few days or weeks. Although this gives the collectors the basics it is a lot of information to absorb if they have never done collections before.
  • Type C – Side by sides is also a method of training used where the new collector will sit with one of your top collectors to watch and learn what they do day to day. They will learn rebuttals, basic system training, etc.  This is effective as long as your new collector doesn’t pick up on any bad habits.  We all know your top collector does everything by the book right?
  • There are several other training methods offered and you just need to decide what works best for you.

After the new hire is trained they should know everything, true or false?

FALSE!  This is a common mistake some companies make.  Let’s be honest, even if you have been a collector for 20+ years you continue to learn daily.  As a collector are you sharing that information or keeping it to yourself?

  • Are you providing advanced training to the collectors?
  • Are you conducting round tables with the team to allow them to listen to their calls and provide constructive criticism?
  • Have you implemented a yearly FDCPA or other testing to ensure all collectors are compliant?

How can I make training fun?

Some of the more seasoned collectors might feel that additional training is demeaning or beneath them.  After all, they put up good numbers month to month so what else do you want from them?  What incentives do the collectors have to fully participate in advanced training?

  • One option is to provide testing within a group or department and the person who gets the highest score wins either some nominal amount, time off, etc. We all want to win, correct?
  • Another option is to team up your best and most compliant collectors with the collectors that are struggling. Set a stretch goal or a team goal so the more advanced collector has incentive to cross pitch, provide guidance, etc.  If they hit this goal you can provide them with some sort of reward.  This not only helps encourage teamwork but also often boosts the less advanced collector’s self-esteem.

Should I invest in training?

Answer is YES!  Your collectors are the revenue producers so make sure you are investing in them!  Rather it be internal training and coaching or bringing in an expert from the outside to provide this, make sure you aren’t missing this opportunity.   It is your responsibility to strengthen your team and make them the best they can be!

By |2018-07-18T12:27:30+00:00July 18th, 2018|