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Quality Asset Recovery believes the ability to attract, create and keep quality collectors is paramount to success. Our best clients know that our success is combining the electronic billing system, the computers and equipment we use with the quality collectors we have. Collection agencies are among the highest industries in the turnover of personnel. The average collection agency provides little to no incentive for a collector to remain in their employ. Quality Asset Recovery believes that successful collectors are our most important assets. More important to you, we treat them that way! We guarantee an above average income while they are sharpening their skills. We help them defray their cost of medical benefits. We share with them the bounties of their hard work through bonus programs, contests and quarterly commissions. We want them to get to know our clients and we want you to get to know the collectors who are successfully handling your accounts. My past success in the collection industry has been based on my ability to motivate. I am a trained and certified instructor of the Leadership Management Institute. This learned skill never goes to waste. I have presented over 200 seminars as a business consultant. I have trained collectors for over 20 years. The collectors with Quality Asset Recovery are among the best-trained professionals that you can have at your side. My most requested seminar is 'Dream, Believe, Achieve' and, upon request, I am willing to provide this seminar for your staff and management team. Part of keeping collectors motivated (and successful) is helping them to believe in their own ability to succeed. Guaranteeing them more than our competitors is one way of telling them that we believe in them. Helping them understand the steps necessary to collect an account is another method we use to provide them confidence. A knowledgeable collector who is motivated to succeed becomes a quality collector. QAR is confident in our ability to create quality collectors. So, now that you are convinced that we can attract and create quality collectors, I need to help you understand some of the things that we do to keep them. It is not an easy job. Collectors have a job similar to the door-to-door salesman. Almost every time they talk to someone, they are told, "No, go away!" It can damage your confidence, create stress and lead to turnover. Our collectors will be limited to a forty-hour workweek. We are not trying to avoid overtime costs. We are trying to ensure that they develop a life outside of the office that requires them to have a regular income. They could increase their income by working more, but this would also increase their stress and lead to turnover. Another benefit QAR has is giving the staff the last week of each year paid time off. Collections traditionally fall drastically during this period. Many of our clients expect to see their customers again, after we collect the outstanding balance. There is a benefit in avoiding calls during this time when very little money is recovered and there is a second benefit derived in providing additional paid time off to a work force. The afternoon before a holiday is often a high travel day as relatives seek out their families to share this time. Often, you could expect that some (or even all) of our staff will be rewarded by paid time off on this afternoon. In fact, if you try to call in this situation to a collector who has been doing a good job on your inventory and find that they are not in the office, it is probably because they did a good job for you. Time off is not only a cheap way of rewarding positive performance; it helps to reduce the stress that they face. Recognizing their performance also reduces this stress. Finally, we try to manage the timing of their rewards. Quarterly commission awards provide larger incentive checks to our top performers than if we rewarded that performance on a weekly or monthly basis. Our quarterly plan also includes two quarters where a larger share of the commissions is paid. By timing the rewards we are able to always maintain an incentive to continue to stay with QAR. You surely do not expect a collector will be leaving us in November when they know that they would lose the paid time off at the end of the year. We plan the quarterly awards in the same fashion. When they return to work in January, they will be looking forward to the April awards since they are 25 to 35 percent larger than those in January or July. Hopefully, we have helped you to understand how carefully we plan for our success. You will find that we do not believe in luck. We believe that those who are recognized as 'lucky' were those who had plans in place to create the opportunity for success. |
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