Is There an Appropriate Price Tag for New Collectors?

We asked readers, in a poll last week, how much it costs to train a new collector.

There was an equal split between $2,500-$5,000 and $5,000-$7,500.

Should new employees feel like they’re wearing a price tag? “Well, of course, no, not exactly,” said one anonymous hiring manager. “But it’s important that everyone involved understands the investment being made on both sides: the employer is investing money into an employee in the hopes that that employee will make that money back for the employer. The employee is investing their time to a job they hope will care for them and provide them opportunities.”

insideARM.com’s Operations series, insideOperations, offers webinars that discuss and dissect Best Practices in the collection industry. The next topic up for discussion: What are the best practices in training employees. The webinar will look not just at new hires, but the ongoing training required with established employees in order to make sure compliance standards are maintained.