A National List law firm member, Morgan & Pottinger, was experiencing significant turnover on their collector floor, a common challenge in the debt collection industry. Then they met Dr. Eyal Ronen of Spotlight Leadership™ at a DBA Conference and enlisted his help. Within 120 days of applying his “science-based practices,” they had a 70 percent reduction in turnover! We interviewed Dr. Ronen, and with his permission, are sharing some of his insights with our readers.
Create a “Magnetic Job Ad”
“Everyone accepts that Collector is a high-turnover job without trying to do much about it,” Ronen said. “The problem won’t go away completely, but no one has to accept a revolving-door policy.” Ronen’s solution is to more effectively attract and screen candidates. They did a complete overhaul of M&P’s hiring processes. The revamp started with recruiting. The first step was to create a “Magnetic Job Ad” that attracts many good candidates. “Rather than assuming that job seekers know you are a great place to work, you need to state clearly in your ad that you have the best work environment, people, training, physical location and benefits,” Ronen said.
Screen applicants using a specific profile
“Our Spotlight Hiring™ system includes an online component that makes it possible to screen hundreds of candidates using a specific ‘Star Profile.’ M&P now has the ability to know before they hire whether the applicant’s skills and personality will work within their culture. They save hundreds of hours and cut hiring costs by only speaking with people who have passed the initial screening. We also provided managers with interview scripts.”
As a gift to our readers, Dr. Ronen is offering his signature audio program and e-book that teach the six principles of successful hiring. Click here to download.
Once you have the right people, Ronen promotes “managing performance.” One way to do that is through streamlined performance reviews. “Most people hate performance reviews. We teach how to make performance management an ongoing process where employees carry a lot of the burden. They are told specific things they need to work towards, specific behaviors that are needed to meet their goals. Their manager becomes a cheerleader and supporter, a remover of roadblocks, who helps to clarify outcomes and reach objectives.”
Ronen stresses the importance of treating everyone fairly and with respect. “Even if you don’t hire someone, get in touch with them. Build a reputation in your community of being a great place to work. Show people a career path and promote from within. Provide excellent training and invest more than dollars. Engage employees by paying attention to their unique qualities and recognizing their unique contributions.”
Look at every area of your operation
M&P’s success with using Spotlight Leadership’s program when hiring collectors convinced them to have all of their hiring go through a Spotlight Hiring system specific to the type of job. They have improved in every area of their operation. One employee who left before the training came back and said M&P was “an entirely new company.”
“With the implementation of Spotlight Hiring™, retention level of new employees 120 days from hire date increased 70%. Spotlight also helped us increase leadership effectiveness and teamwork. The decision to utilize Spotlight Leadership was the best investment we made all year.” Steven Douglas, President, Morgan & Pottinger
by Nancy Lender