According to the Bureau of Labor Statistics, there were 411,000 bill and account collectors in 2008. Between the years of 2008 and 2018, the debt collections industry will grow, with employment opportunities expanding for debt collectors at a faster than average rate across all occupations, and expected to increase by 19%.
Due to previous trends, speculation exists that while first party collection departments will continue to service their own debts, there will also be a continued rise in outsourcing debt collection to third party collection agencies, whether by placement on contingency, or via the sale of a debt portfolio.
Recent economic downturns, which affected many industries, reduced the workforce, and eliminated many prospects for opportunities for job growth, did not affect the collection industry adversely and thus the collection industry continues to remain stable. Collection jobs will continue to remain competitive and production based. Collection jobs involve strict compliance standards and strong negotiation and persuasion skills. Promotions into management are available for those individuals who apply themselves!
Most financial institutions and even collection agencies will train new employees specifically to collect the way they want you to. Most employers seek collectors with prior call center or Customer Service experience. A good employer will invest in their collection staff by coaching their collectors to continuously improve in being more efficient and successful. National Enterprise Systems has a professional training team that offers one-on-one development!
Important skills for collectors include strong listening skills, the ability to negotiate, ability to multi-task because you have to note the conversation as you are talking on the phone and the notes need to be concise, must be able to keep in mind the bottom line, and empathy is good to have. Maintaining professionalism is a good attribute to have also, as well as the ability to work independently and make the solid decisions you are hired to make.
National Enterprise Systems looks for professional and goal- oriented individuals who want to come to work every day and contribute. Figure out what makes you tick and what sets you apart from your competition and present yourself with confidence that you are the best candidate for the position.
You may not enjoy getting bills in the mail, but maybe you’re not sure if there’s a better way to pay. There are lots of ideas about online bill pay, including who’s doing it, how safe it is and what you should or shouldn’t pay online. Here’s a list of common myths about online bill pay, as well as the corresponding truths behind these ideas.
MYTH: Only younger generations pay bills online
Not true, people across all generations are using online bill pay. In fact, a 2013 Gallup poll found that 71 percent of Boomers use online banking services at least weekly, which is right in line with Generation X (70 percent) and Generation Y (72 percent). Younger generations might have been quicker to adopt technology, but the Baby Boomers were quick to catch up.
MYTH: Paying bills online isn’t safe
While it’s important to research every company you do business with, most reputable companies adhere to strict guidelines to keep customers’ personal information protected online.
MYTH: It isn’t as easy to pay your bills online
In most cases, managing your bills online is actually easier that making payments through the mail. Some companies give you the option to set up recurring payments for bills you receive regularly such as your mortgage, car payment or insurance premium. For bills like these, you can usually sign up to have payments made automatically each month through your checking account or with a credit, debit or prepaid card. Plus, you’ll save the hassle and cost of postage, checks and money orders.