3 Tips for New (and Old) Collection Managers | IAT SmartDial® Solutions

3 Tips for New (and Old) Collection Managers

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Scared, nervous, excited—I remember the day I was first promoted to a management position. Frankly, I made numerous mistakes in the early days, and I’ve fortunately learned much working side-by-side with great managers and business owners. I would like to think I’m a better manager today, BUT I am still learning and attempting to improve.

Perhaps YOU were slightly nervous when first promoted to Collection Manager. I’m certain you were excited to prove to your bosses and fellow employees that you were indeed the right choice. You most likely had many new ideas to try with your collection staff in an effort to increase morale, teamwork and collections.

Whether you are a new Collection Manager or have been in the position for some time, below are three tips for success.

Understand your responsibilities. What expectations do your managers and agency owners have for you? Learn your duties and then set goals and establish milestones to ensure you and your team are on track to accomplish those goals.

Support your team members. It is easy to become overwhelmed with new responsibilities, BUT don’t forget to spend time with your team. Get to know them and understand the frustrations and successes of their jobs. They need to know you care about their needs and concerns. Being fully engaged with your team will improve communication and build trust.

KNOW the technology. As a Collection Manager, you must learn to use the technologies provided if you want to succeed. These technologies were probably put in place before you were hired, so if you need training, ask for it! Your technology vendors are a partner to your success, so communicate with them often. You should fully understand how to use each technology and how they work together. You need to know the feature sets and then analyze how these features can help you succeed.

Zig Ziglar said, “You will get all you want in life if you help enough other people get what they want.” I have found this statement to be true over and over again. Sure, set your own success goals, but THEN start working with others and help them to achieve their goals. You will quickly find that their success equals your success.

 

This article was written by Dave R

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