Collector - October 2016 - 3

COLLECTOR ® CHIEF EXECUTIVE OFFICER Patrick J. Morris EDITOR Anne Rosso May DESIGN FIRM The YGS Group COMMUNICATIONS SPECIALIST Katy Zillmer Collector is published monthly by ACA International. 4040 W. 70th St., Minneapolis, MN 55435 Telephone: (952) 926-6547 Web: www.acainternational.org Email: comm@acainternational.org Twitter: @acacollector Annual subscription rates: $35 for ACA members, $70 for nonmembers. Single copies: $3.25 for ACA members, $6.50 for nonmembers. Collector welcomes article submissions. However, we cannot guarantee publication of the articles we receive. Collector editors reserve the right to edit submissions. For advertising information, please contact Leonard Media Group at (215) 675-9208, ext. 201; info@leonardmedia.com; or www.acainternational.org/advertising. Advertisement of products or services in Collector does not constitute an endorsement by ACA. Information contained in Collector is not intended to be legal advice and may not be used as legal advice. Every effort has been made to ensure this information is up-to-date at the time of publication. It is not intended to be a full and exhaustive explanation of the law, nor should it be used to replace the advice of your counsel. ©2016 ACA International. All rights reserved. Materials COLLECTOR 10.16 may not be reproduced without written permission. PRESIDENT'SPAGE Meet Your Match What's the trick to finding and hiring the right person for the job? By Keith Kettelkamp S uccessful hiring is a two-way street. How do you pick the right people and how do the right people pick you? The ideal is a match that works for both employer and employee. Early on when I started my business, we were in a location that was close to a local high school. We instituted a program to staff our collection department, in part, with high school students who came into the office after school. It was a successful partnership for them and us. Working in a professional environment required serious commitment from them to do an "adult" job, and we benefited from their sharp minds and youthful enthusiasm. I recently found out that one of those students, who happened to be both a great collector and an excellent recruiter, is now a very successful partner in a prominent area law firm. I like to think that the time he spent with us during his formative years was a stepping stone to his current success and ours. There is no shortage of studies that have investigated the cost of hiring a new employee. The estimated expense of recruiting and training a new team member varies, but there is consensus that the outlay in time spent, lost productivity and actual expenditures can be substantial. It certainly makes sense to have a comprehensive plan in place that can be implemented when needed. Or, better yet, to have an ongoing process in place that entails constantly searching for people who can help grow and advance your business. One of the tools we've used in our hiring process is personality assessments. Over the course of many years, we have used a variety of evaluations to help guide management of current employees and assist in assessing potential new hires. One valuable lesson I have learned is that assessments do not guarantee success, but they can go a long way in helping determine if you and a job applicant are a probable match. The article on p. 20 of this issue of Collector explores how pre-employment personality assessments can help us hire the right people and train them effectively. It's time to take a closer look at how we identify and nurture promising collection professionals. By investing in our employees from day one, we can protect our bottom line and ensure we're operating at our highest potential. Keith Kettelkamp is president and CEO of Remex in Princeton, N.J. He can be reached at keithk@remexinc.com. 03 http://www.acainternational.org http://twitter.com/acaintl http://www.acainternational.org/advertising

Table of Contents for the Digital Edition of Collector - October 2016