Tangie Stevenson works for Medicredit Corporation, which is a Management and Recovery Agency, better known as The Outsource Group. This agency is a third party collection agency which a third-party collection agency is as agency that was not a party to the original contract between a creditor first-party and a debtor second-party. In most cases, a third-party collection agency is used once internal first-party collection efforts have been considered unsuccessful. First-party collection agency usually lasts for a period of months before the debt is turned over to a third-party collection agency.
A creditor assigns accounts to a third-party collection agency for a fee. The fee differs depending on a wide variety of factors ranging from the collection agency that the creditor chooses to work with, to the number and type of accounts that will be submitted on a routine basis. The fee can be as simple as a flat fee per account submitted or a performance percentage fee on each amount that is collected. In some cases, it may be a combination of both. It is dependent upon the relationship that is agreed upon.
As a collections manager Tangie oversee’s all activities related to the company’s credit and collections. She is responsible for formulating, implementing, and maintaining credit and collections policies, monitoring collections and past due accounts, reporting on the activities of the accounts receivable department, and ensuring timely collection of customer accounts receivables. She also provides training, direction, and evaluation of credit and collections employees.
In addition to overseeing the collection department staff, she tracks customer feedback through the review of incoming letters, emails, and phone calls and the analytical data collected through outside reporting agencies. She also identifies errors or glitches in collection procedures and recommends solutions to increase collections on delinquent accounts while ensuring customer satisfaction and retention. The Plan
I have established a plan to keep the employees in Tangie’s department motivated and satisfied. Keeping employees motivated and satisfied are important elements of not only getting the most out of your employees, but also in retaining your best employees. The best employees are always in high demand, and will change companies if they are not kept motivated and satisfied at work. It doesn’t matter what you build, invent or sell; your organization can’t move forward without people.
CEOs, company founders and managers the world over know that keeping the teams beneath them moving forward together in harmony means the difference between winning and dying. The plan that can be applied to Tangie’s department that would increase the motivation, satisfaction and performance would be to first, have the team members build ownership among themselves.
They must feel as if they own the place and not just work here. Once of the principles of self-managed teams is to organize around a whole service or product. One way to inspire this feeling is to have each of the members become familiar with what the other members are doing, allowing them to bring their ideas for improvement to the table and have input in the entire process. If the roles are too specialized, have each of the members of the team exchange responsibilities often. This all makes them feel like “it’s mine”, and most people, when it’s theirs, really don’t want to fail.
Next, you must trust the employees to leave their comfort zones. This means to allow them to do more than one specific task, it will allow them to grow and become more confident in their abilities while making them feel more valuable to the organization. Even though as a manager it may feel like allowing individuals to try new things presents a risk to productivity or places workers outside of their established place, it heads off other issues. The bigger risk is having people get burnt out or bored.
Then, is to keep the team informed; business leaders have a clearer perspective on the bigger picture than their employees do. It’s really important to tell subordinates what’s going on. What a manager may take for common knowledge about how things are going or what challenges are down the road, employees should be informed of. Spreading the intel lets everyone in on the lay of the land and at the same time strengthens the feeling among workers that they are an important asset to the organization.
Then, is the fact that your employees are adults so treat them as such. This is also important when it comes to motivation and satisfaction in the organization. Employees need to be dealt with in a respectable manner. In any organization there is going to be bad news. It could have to do with the individual or the company as a whole but just remember to treat employees accordingly.
As a manager, if you choose to keep people in the dark about trying times or issues, the fallout could be more serious than the issue itself. When people are left out, they tend to make things up. An important part of the plan is to remember that money matters, but not as much as you think. Compensation packages are a big deal when employees are hired, but once hired the motivation tends to go downhill. The motivation then comes from things like the challenge of the work, the purpose of the work, the opportunity to learn, and the opportunity to contribute.
Last, is to reward and recognize employees if they’ve done something truly outstanding. Instead of telling others that your employees are doing such a great job, take the time to bring a specific person into your office or write an email or note along with that person’s paycheck to let him know that his work is truly outstanding. Rewarding them with small gifts like tickets to a movie, a gift certificate to a grocery store or even highly wish for tickets to a sports game is a good reward.
Reward employees with time off, you will be astounded to see how quickly your employees get to work when you offer to let them leave a little early or if you give them the option of coming to work a little late the next day.
Forbes. (2013). 7 Ways to Keep Your Employees Happy (And Working Really Hard). Retrieved from http://www.forbes.com/sites/karstenstrauss/2013/09/08/7-ways-to-keep-your-employees-happy-and-working-really-hard/