Browsing Tag insidearm

If you’ve downloaded and thumbed through my ebook, Beyond the Headset, then you are probably aware that I’m a big fan of “upward feedback.”   

If you’re not familiar with the concept of upward feedback, it can be summed up as a method for having your employees provide you with input on your effectiveness as they see it. That’s right — you’re employees tell you how well you’re doing your job.   

I firmly believe that upward feedback is a valuable process for helping to assess the health of a team’s heart (i.e., the team’s leader).   

I recently had the opportunity to write about upward feedback in an article for insideARM.com’s newsletter, The Talented Collector. A portion of the article appears below along with a link to the full story.    

Our heart is the most important part of our body. It pumps blood throughout our system to supply energy for everything that we do. If a team were a body, the supervisor would be the heart. He or she would be responsible for pumping vital motivation, feedback, and inspiration throughout the team.  

One of a supervisor’s secret weapons for fighting employee disengagement is an employee feedback survey. Not just the run of the mill, do-you-like-your-paycheck variety. Something better. Something deeper. Something that allows employees to measure their supervisor’s effectiveness. This “upward feedback” can be a catalyst that helps companies improve employee engagement as it can help to pinpoint areas of strength and weakness within the heart.    

To continue reading the story, please visit “Are You Measuring the Health of Your Team’s Heart? You Should Be.“   

Question: Do you use upward feedback in your organization?   

Please share your thoughts in the comments section.

THE LESSON

This week’s collector mentor Challenge is inspired by a recent piece published on insideARM.com titled, “A Walk Down Memory Lane: A Fascinating Look at the Collection Industry as in was in 1995.”

In the article, Kaulkin Media president and insideARM.com publisher Stephanie Eidelman, encourages readers to download the 1995 Kaulkin Report to see the debt collection industry as it was back then.

This past weekend, I had an opportunity to travel back in time to1974 and read the legendary Chicago Tribune articles on debt collectors. If you are not familiar with the history of the FDCPA, the articles that I am referring to were part of a weeklong series covering the abusive collection practices of Chicago-area collection agencies. Although I have been in the industry for more than a decade, and was familiar with the story of how the FDCPA came about, I never had the opportunity to read the actual articles until I spent a couple of hours searching the online archives. Now, the articles are a prized possession (Hey, what can I say, I am a collections nerd.).

THE CHALLENGE

This week’s challenge is to fire up the DeLorean and travel back in time in order to see the debt collection industry from a different point of view.

You can:

1. Download and review the 1995 Kaulkin Report (it’s totally free).
2. Access the historical “gems” that Eidelman mentions in her article.
3. Talk with seasoned veterans and ask them how things have changed since they first came to the industry. (I personally enjoy talking with people who have worked in the industry pre-FDCPA and pre-computer. The stories are awesome.)
4. Access the Chicago Tribune’s online archive and review the articles that were instrumental in the development of the FDCPA.

THE REFLECTION

In her article, Eidelman encourages her audience to reflect on how the changes of the past 15 years have influenced business, and asks, “What do you think will characterize the next fifteen?”

Question: What do you think the future holds for the collections industry?

Please share your thoughts in the comment section below.

Gary Jensen
Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

© 2011 collector mentor  All rights reserved.

Like many kids growing up, I took a special liking to superheroes. And if I had to pick just one as my all-time favorite, Batman would definitely get my vote. I mean c’mon, can any other superhero really compete with the Batmobile and the Batcave? Doubt it.

But that isn’t why he’d get my vote.

He would get my vote because he was one of the only superheroes who didn’t have a superpower.  No x-ray vision. No super-sonic speed. No teleportation capabilities. He had to rely on his own unique skills and abilities (and some cool gadgets) to get the job done.

I know many leaders who wish they had superpowers to get their job done. For instance, wouldn’t the ability to predict the future be a helpful interviewing tool? Your company would have the best retention ratio in the industry and you would be the envy of every hiring manager. Thousands of dollars would be saved every year becuase you would hire only the best collectors. Clients would love you. Life would be sweet.

But as fun as it is to daydream, let’s get back to reality.

Your latest class of new hires has shrunk from its initial nine employees down to four employees. A top-performer just submitted her two-week notice, and you have disciplinary warnings to deliver to three collectors who just cannot seem to make it to work on time. Employee-related expenses are through the roof and the pizza parties and Red Bulls are no longer motivating the team.

Sound familiar? If so, don’t worry. Help is on the way.

This summer, I invite you and your leadership team to join collector mentor and insideARM for ARM Summer School 2011. This year’s theme “Creating Superstar Supervisors”is designed to help frontline supervisors and managers identify strategies for achieving high levels of employee engagement.

ARM Summer School isn’t just another series of webinars.

The ARM Summer School program is a thorough four-course learning experience for supervisors and managers that includes web-based self assessments, online Virtual Learning Labs, testing to make sure students have gotten the lesson, and even follow- up to help supervisors to implement what they’ve learned. There is no travel and there are no full days off the collection floor. The program takes place over four weeks, requiring just a few hours per week.

The facilitators for this year’s program include:

• Harry Strausser III, president of Remit Corp and past-president of ACA International
• David Glezerman, vice president/bursar for Temple University
• Cheryl Pignotti, vice president of employee services for General Service Bureau
• Jaci Minges, business analyst for Security National Automotive
• Gary Jensen, editor for collector mentor

This year’s sessions:

• The SuperPower of Trust: Building Authentic Relationships that Accelerate Performance and Boost Loyalty
• Unmask Your Super Power: How to Use Your Personal Leadership Style to Help Every Employee Achieve Peak Performance
• What You Don’t Know Could Hurt You: 5 Skills Every Superstar Supervisor Must Have
• A Superior Tomorrow: Increasing Employee Performance Through 5 Critical Coaching Skills

You can save 20% with early bird pricing if you register before the end of the day on Friday, June 17, 2011.

Let’s face it. You and Batman have one thing in common: Neither of you have superpowers. To compensate, you will need to increase your knowledge of what it takes to get the job done. You will need to work on improving your skills and abilities. Thankfully, Summer School can help. See you in class.

This article orginally appeared on insideARM.com on June 8, 2011.

In the popular remake of the movie Meet the Parents, actor Ben Stiller plays the role of Greg Focker, a man who will be meeting his girlfriend’s parents for the first time. The girlfriend’s dad, Jack, played by Robert DeNiro, gives Greg a lesson on the importance of trustworthiness by teaching him about the Circle of Trust. The idea is quite simple: Inside the circle are people you trust; outside the circle are people that you don’t.

One of the most unforgettable scenes is when Jack checks in with Greg to ensure he understands the concept.

To view the video clip and continue reading the article, please click here to go to the insideARM.com website.

By Stephanie Eidelman | President, Kaulkin Media

This week we officially opened our annual Best Places to Work in Collections program for registration!

Now in its fourth year, insideARM.com’s Best Places to Work program recognizes the most positive workplace environments in our industry.  Winners have enjoyed great benefits including enhanced reputation with creditors, morale boost, and recruiting support.

Compete against companies of your own size.  No need to feel that you can’t measure up against the benefits and resources of a large company, or the family feeling of a small company.  Rankings are determined within three size categories: small (15-74 employees), medium (75-249 employees) and large (250+ employees).

It works like this:

1. Employers complete a questionnaire on workplace policies, practices, philosophy, systems, benefits, and demographics. It can take about 8 hours to gather all of the info for this questionnaire – but hey, if it was totally simple, it wouldn’t produce meaningful results – and if you register now, you’ll have months to pull it together.

2. Employees are asked an in-depth set of questions — you choose online or via paper format; either way it takes about 10-15 minutes to complete.

That’s it. Within about 6-8 weeks of completion, our partner, Best Companies Group, will produce a list of winners and we start to make announcements.

Rest assured insideARM staff does not have access to employee responses; Best Companies Group has no connection to the debt collection industry (with the exception of their role in this program).  If your staff is — ahem — less than kind, nobody will know but you.  But YOU should know!

Participating companies will receive a free one-page “Employer Benchmark Summary”, and will have the opportunity to purchase the full “Employee Feedback Report” that provides valuable data including a spreadsheet summarizing employee feedback, written employee comments, and industry benchmark information.

These reports offer incredibly valuable information at an unbelievably fair price, regardless of whether you are selected as a winner.  The value in having a 3rd party conduct this survey is that you get candid information from your employees; your HR department could never gather this type of information.  And if you chose to do it independently, you’d pay thousands of dollars.

Please, take advantage of this great opportunity to learn what your employees really think.  After all, aren’t they the ones driving your revenue?  If your staff is unhappy, do you think they are as productive as they could be, or that they are representing you and your clients as they should be?

Yes, it will require some time to complete the company portion of the survey, but it’s not due until mid- summer, so you’ve got plenty of time to deal with it if you get started now.

Simply participating will show your employees that you care.  And just read what your peers have to say about the benefits you’ll enjoy if selected as a winner!

ABOUT THE AUTHOR

I’m the president of Kaulkin Media and publisher of insideARM.com. Our mission is to “shift the public conversation about the ARM industry.” When we started in 1999 this was a really niche topic. Today, our arena truly is the news of the economy and touches nearly every consumer. After a brief “first-job” stint with a regional accounting firm, I worked for Disney as a stage manager for a few years, then went to UCLA to get an MBA. From there I went to AlliedSignal Aerospace and had probably my most challenging and rewarding professional experience, as a materials manager for a manufacturing line. In the mid-90’s I joined Citysearch.com, one of the original Internet startups. After several years of opening new markets and working with newspaper companies on their local and classifieds strategies, I joined the family firm, Kaulkin Ginsberg.

insideARM.com recently unveiled a new contest, Best Collection Floor Game, Contest or Incentive.

 To participate you’ll want to “submit an outline of your best contest, game, or incentive you have played/used on the collection floor” to editor@insidearm.com.

The contest is being sponsored by Intelitech and there are some sweet prizes up for grabs:

If you submit a game or incentive to us, we will send you the Top 10 games/incentives to utilize or try in your collection organization. The finalists will be voted on by insideARM.com readers. Each finalist will receive a $25.00 Amazon Gift Card and Collector/Coach Boot Camp session from The Intelitech Group. The First Prize Winner will receive a $150.00 Amazon Gift Card and 3 Collector/Coach Boot Camp sessions.

THE LESSON

A couple of weeks ago Mike Ginsberg shared his thoughts on what he gets out of attending industry conferences: “My primary objective is always the same for every trade show that I attend:  I set out to speak to as many people as possible so I can walk away with as broad a perspective as possible about the current affairs of the ARM industry.”

While people attend industry events for a mix of reasons, I personally subscribe to Mike’s philosophy. I want to broaden my perspective.

In late September, I had the honor of speaking at the ACA of Texas’ 63rd Annual Conference & Southwest Exposition, and instead of hitting the town after my presentation, I made it a point to stick around and attend as many sessions as I could in an effort to more fully understand the issues, challenges, and concerns currently facing the collection industry and agency owners. And, I’m glad I did. I learned new information about data security, virtual collections, and customer complaints. I left more knowledgeable than when I arrived. My perspective was broadened. Mission accomplished.

This week you have the opportunity to broaden your perspective without spending thousands of dollars to fly halfway around the country to attend an industry conference. On October 6, 2010 from 10am to 6pm, EST insideARM.com will host EXPO 10.6.10. It’s free and it’s virtual. You can attend from your office, a Starbucks, or while sitting on your couch in your pajamas. No lost luggage. No missed flights. Nobody telling you, “It’s not in the budget.”

Don’t mistakenly believe that this event is just for C-Suite executives. If you’re currently working on the frontline, or are swimming in the waters of middle management, this event is especially important for you. Let’s face it—your company probably won’t be sending you offsite any time soon. Quite frankly, it’s too expensive and turnover suggests you won’t be around long enough for them to recoup their return on investment.

This is a catch-22, because to learn the language of the C-Suite and move up the ladder you have to discover as much about the industry as you can. Thankfully, this week, you have that opportunity. 

You will be able to network and meet new people, catch up with old friends, check out the latest vendor offerings, and take advantage of three educational webinars (complaint management, headline risk, and collector incentive programs). All of which will allow you to do one very important thing: broaden your perspective.

THE CHALLENGE

I’ve had the opportunity to work with, learn from and interview some great leaders over the years. When I ask what their secret to success has been, it always boils down to the same thing: Take advantage of every available resource in an effort to learn, grow, and continually broaden your perspective.

This week your challenge is to take advantage of at least one of the three educational webinars at Expo. Then come back here and share what you’ve learned in the comments section below.

THE REFLECTION

1.    What do you think about the virtual expo design and setup?
2.    Did you make any new connections or catch up with an old friend?
3.    What did you learn in the educational session you attended?
4.    Did you learn about any new products?
5.    How did you broaden your perspective?

I’ll be there. Will you?

Gary Jensen
Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Each week we bring you 10 of our most favorite stories from around the industry.

Week of September 26, 2010

1. insideARM.com Announces the Best Places to Work in Collections 2010

(insideARM.com, 10/01/10)

The list includes 27 accounts receivable management (ARM) firms that braved a grueling judging process conducted by the Best Companies Group.”

2. Fightin’ Words: MSN Money Sucker Punches Debt Collectors

(insideARM.com, 09/28/10)

The debt collection industry found itself on the receiving end of two black eyes last week, each blow delivered at the hands of a major mainstream media outlet.  And although the enduring, collective harm done to the reputation of ARM companies in the two instances will vary in degree and kind, both events merit a response from anyone reading this blog.”

3. Media Reports Blacken Eye of Entire ARM Industry

(insideARM.com, 09/29/10)

And now to the industry’s other black eye: an ugly contusion, principally of its own making. (Read about the first black eye)”

4. Those  who complaint – what a blessing 

(insideARM.com, 9/29/10)

This may sound heretical to members of the ARM Industry, which for the past three years has been the target of more FTC consumer complaints than any other category of business…beyond even the used car salesman!”

5. Cushman vs. GC Services, L.P.

(Leagle.com, 09/30/10)

The district court granted GC’s motion for summary judgment with respect to Cushman’s DTPA claim, denied it with respect to her TDCPA claim, and ultimately directed a verdict in favor of GC on one of Cushman’s FDCPA claims. After the jury returned a verdict in favor of GC on the remaining FDCPA and TDCPA claims, the district court denied Cushman’s motion for a new trial. For the following reasons, we affirm.”

6. Lawyer Fights $276 in Late Fees & Foreclosure Threat, Over a Penny

(Courthouse News Service, 10/01/10)

An attorney claims his Hawaiian timeshare company charged him $276 in late fees and threatened to foreclose on his property because he owed it a penny. Jonathan Dorman says the Kahana Beach Vacation Club subjected him to abuse and threats until he wrung from it the information that it was charging him 20 months of late fees for a penny – which a supervisor said “appeared to be the result of a computer glitch.”

7. Stay Off the Hook for TCPA Claims

(Law.com, 10/01/10)

Automatically dialing cell phones could land your company in court and cost you millions, with a growing number of cases alleging violations of the Telephone Consumer Protection Act (TCPA) …”

8. Air Cuomo, Times Two

(NYDailyNews.com, 09/29/10)

The first ad, produced by Jonathan Cranin, “profiles Michelle Minton, a Republican mother of two from Buffalo. Michelle was harassed and threatened by a predatory debt collection company for a $4,400 bill she didn’t owe. Andrew Cuomo went after the company and had the people behind the threatening call arrested. As Attorney General, Cuomo has been a leader in cracking down and prosecuting predatory debt collectors who illegally harass New Yorkers.”

9. Franken Introduces Bill to Amend FDCPA, Raise Fines for Violations

(insideARM.com, 09/30/10)

After teasing it earlier in the week, Senator Al Franken formally filed a bill that would amend the FDCPA. The proposal includes adjusting violation liability limits to inflation. And the bill appears to have at least one Republican supporter.”

10. Fair Debt Attorney Sergei Lemberg Applauds Sen. Al Franken’s S. 3888, “The End Debt Collector Abuse Act”

(PRWeb.com, 09/30/10)

Fair debt attorney Sergei Lemberg today announced his support for S. 3888, “The End Debt Collector Abuse Act,” and applauded Senators Al Franken (D-MN) and George LeMieux (R-FL) for introducing legislation that would amend the federal Fair Debt Collection Practices Act. “Consumers have been subjected to unprecedented levels of abusive debt collection practices,” said Lemberg. “Congress must step in and shore up the FDCPA to further protect consumers against predatory debt collectors.”

Economic Aftershocks: Managing Risk on Your Collection Floor in 2011

Live Webinar

September 21, 2010 1pm EDT/12pm CDT

Duration: 75 minutes

Cost: $79 USD

Reserve your seat today!

The economic collapse that influenced creditors and collection agencies over the past 18 months had varying effects. More consumers (and businesses) fell behind on obligations, some for the first time ever, and many companies were forced to do more with less.

According to the latest insideARM.com Confidence Survey:

• More than 50% of agency executives reported moderate to large increases in placements during the 2nd quarter.
• 26.6% are accepting more payment arrangements (meaning the relationship with the customer will be extended as a result).
• Even though placements are on the rise, 22.9% of agencies, 19.6% of creditors, 22.2% of law firms, and 16% of debt buyers eliminated jobs in 2Q 2010.

With placements, complaints, and lawsuits on the rise, collection executives must ensure their operation is adequately prepared to weather the storm as we head into 2011. This is especially true for those companies that have cut jobs and are now being forced to do more with less.

What You will Learn in Part 2

Attend The Perfect Storm - Economic Aftershocks: Managing Risk on Your Collection Floor in 2011 right from your computer on September 21st to receive these key takeaways: 

• Understand why a formal complaint system is important and the benefits it offers your collection business.
• Review complaint handling best practices and identify implementable practices that support your business philosophy and vision.
• Learn a systematic approach for implementing a formal complaint system at your agency.
• Familiarize yourself with quality assurance monitoring best practices to reduce compliance risk while increasing collections and customer service.

About the Presenters:

Jaci Minges, Training & Quality Assurance Manager, Security National Automotive Acceptance Corporation

Jaci is the Training & Quality Assurance Manager of Security National Automotive Acceptance Corporation. Jaci has been in the ARM industry for 9 years. She is responsible for training and development of new and existing employees through formal and as well as informal training methods, quality assurance and compliance throughout the call center (customer service, collections and recovery), and dialer administration. She is currently working on earning her MS.Ed. and is a member of the ACA (Creditor’s International) and the American Society of Training and Development.

John McNamara, Chief Marketing Officer, LiveVox

Chief Marketing Officer for LiveVox and director and founder of Fidelis Recovery Solutions, Inc, John McNamara is a 27-year industry veteran with experience in all phases of collection and recovery operations with intense focus on technology applications, call center optimization and compliance management.

Prior to joining LiveVox, John was COO for AMO, SVP of Operations for Nationwide Credit/ACB and VP of Operations for United Recovery Systems, LP.

John is a frequent speaker/panelist/consultant and author addressing key issues and trends in the collection industry. John was recently named to Collection Advisor magazine’s list of the Top 50 Most Influential Collection Professionals for 2006. In 2007, John was appointed Vice President and Board Member of the Georgia Collectors Association. John was inducted into the Gerson Lehrman Group GLG Leaders Program in 2008, and John is the 2009 winner of the ACA Kurt Swersky award for leadership.

John is currently Chairman of the ACA Affiliate Committee, Board Member for collector mentor and member of the ACA Technology Committee.

John is a summa cum laude graduate of Kennesaw State University with a Bachelor of Business Administration degree in Finance. Lastly, John is a long suffering Kansas City Chiefs fan and a diehard Kansas Jayhawk.

Gary Jensen, Founder & Chief Learning Officer, Skills World

Gary Jensen is the founder and chief learning officer of Skills World – a training , coaching, and consulting company which specializes in serving members of the credit and collection industry. Gary has twelve years of industry experience and is a former ACA Certified Instructor, past member of ACA’s esteemed Education Council, and former ACA National Director.

Gary is also the creator and editor of collector mentor™ – the credit and collection industry’s premier training aid for frontline industry professionals. He has appeared as a guest speaker at several industry events and his articles and advice have appeared in many of the industry’s leading publications.

This is a lesson that all collection executives must have!

Reserve your seat today and then get ready for Part 3 – The Social Media Swarm on October 26 at 1pm EDT.

Session Three Preview:

• Discussion of how social media is affecting business.
• Review of the popular social media tools and how consumers are using them to voice their frustrations.
• What strategies you can use to stay on top of the social media buzz.

Each week we bring you 10 of our most favorite stories from around the industry.

Week of August 1, 2010

1. ‘Debt tagging’ by collection agencies a growing problem

(The Washington Post, 08/08/10)

Is it true that debt collectors are increasingly trying to collect from the wrong people?

2. Seminar on helping small businesses collect debts to be held in Massena, NY in September

(North Country Now, 08/07/10)

Northern Asset Recovery will be offering a seminar designed to assist small businesses in collecting their debts.”

3. NCLC Releases Report on “The Debt Collection Machine”

(ACA International, 08/06/10)

The National Consumer Law Center recently released a report claiming that the collection industry treats consumers unfairly and burdens the court systems.

4. Mickey Rourke – Rourke Nearly Shot Man As Debt Collector

(Contactmusic.com, 08/07/10)

Hollywood tough guy MICKEY ROURKE nearly shot a man during his work as a debt collector, when his gun misfired during a heated exchange with a delinquent borrower.”

5. Martin Sher of Birmingham Takes the Gavel as President of International Trade Association

(PRWeb.com, 08/06/10)

Martin Sher, a Birmingham, Ala businessman has been named the 2010-2011 president of ACA International, the association of credit and collection professionals. Sher, co-owner with his brother David of AmSher Receivables Management, assumed the president’s gavel in July at the ACA International Convention in Washington D.C.”

6. Richmond Using Collection Agency for $3M in Unpaid Tickets

(WTVR.com, 08/06/10)

The City of Richmond, Virginia is chasing down $3 million in unpaid parking tickets.
 

7. Collector sued after sending fax to debtor’s employer

(The Southeast Texas Record, 08/05/10)

According to court records, Check Recovery Services sent a fax to [David] Oefelein’s work requesting verification of his employment which included his full social security number. The plaintiff states he was embarrassed that this was sent to his work and also concerned that the information contained his social security number.”

8. Guns don’t kill people, debt collectors kill people?

(insideARM.com, 08/06/10)

Are debt collectors to blame for the recent shootings that left eight people dead in Hartford, Connecticut?

9. Are your collectors a data security risk?

(insideARM.com, 08/03/10)

collector mentor editor Gary Jensen shares some tips on how collection agencies can prevent employee dishonesty.

10. Collection Agency Receives Readership Poll Award

(PRLog.com, 08/04/10)

American Profit Recovery, a collection agency based in Michigan, Massachusetts and North Carolina, recently received the Banker & Tradesman’s First Place Gold Award in the Banking Section/Asset Recovery category for their 2010 readership poll. The award recipients were determined in the BEST OF Banker & Tradesman Poll where readers voted from April 30th – July 2nd to determine who they believe to be the best providers.”