Collector - September 2016 - (Page 48)
Choice Recovery has an inclusive culture where everyone, from consultants
to compliance officers, works together.
By Katy Zillmer
John Olmstead, Chad Silverstein and Alicia Wilson.
CHAD SILVERSTEIN, PRESIDENT
had Silverstein started Choice
Recovery while attending college
at the Ohio State University in
1997. From the beginning, he had big ideas
to build a self-managed culture to help
consumers and clients in the credit and
"I have always tried to build a company
that I would be excited walking into every
single day," Silverstein said.
Today, Choice Recovery, headquartered
in Columbus, Ohio, is going on 20 years
in business operating with a culture that
encourages collaboration and accountability.
Company leaders helped create the core
values that are used to hire, fire, recognize
and reward in order to build their team with
purpose. At the heart of their culture lies an
ownership mindset that expects associates to
think and act like a partner in the business.
"I've never had managers and supervisors
in my culture," Silverstein said. "Instead,
we've embraced a peer-to-peer flat structure
with strong leadership whose responsibility
is to hold each other accountable."
For example, one of the company's
employees is held accountable by the 35
consultants he works with-and vice versa.
"We look at it more as a coalition, not a
pyramid hierarchy chart," Silverstein said.
"Everybody is on one team. It only works
well when you have the right people. That's
been the challenging part. It only works
when you've got the right team, and I've got
Each of the company's 60 staff members
has gone through an extensive interview
process to determine if the candidate has
the potential to lead, not just collect. Every
leadership position is held by someone who
started off in an entry-level position.
The company also trains its collection
consultants how to effectively listen to and
speak with consumers. The result is a team
with a long tenure at Choice Recovery
and consumers who send in letters about
how their experience with the company's
consultants has changed their perception of
the collection industry.
Silverstein focuses a lot on explaining
Choice Recovery's culture to clients because
he believes it is the reason for the company's
high performance and positive feedback.
"If you combine the culture with an
engaged employee who has the skills and
resources, the experience for the consumer is
going to be amazing," Silverstein said.
Choice Recovery even invites employees
to participate in an Advisory Board
Committee, where they can help make
decisions on the company's policies,
procedures and processes.
Essentially, every employee has ownership
in the company. Consultants receive their
own portfolio of new business and receive
a flat percentage of how much money they
make the company with no ceiling-very
similar to a franchise business model.
"It's a peer-managed, self-managed
organization where everyone is in charge
of everything and everyone is responsible
for everything," Silverstein said. "Building
a culture where employees love to come
to work every day results in them being
engaged and produces higher results."
Katy Zillmer is ACA International's
Table of Contents for the Digital Edition of Collector - September 2016
5 Ways to Get Electronic Payments Right
Making the Connection
Curious About Amicus Curiae?
Know the Score
What Creditors Need to Know About the TCPA
ACA Industry Advancement Support Helps Secure Victory for Collection Industry in FDCPA Case
Collector - September 2016