This is the third in an eight-part blog series about what makes Elevate Recoveries a different kind of collection agency. Instead of mission and vision statements, Elevate Recoveries employs a simple philosophy that we try to instill in our team. The third component of our philosophy is to “expand your learning opportunities”.
There is an old saying attributed to various individuals about educating a workforce to which Elevate truly subscribes. A CFO says to the CEO “What happens if we train our employees and they leave”, to which the CEO responds “What happens if we don’t train them and they stay”?
Learning can take on many forms, and includes both formal and informal learning. Even though Elevate seeks to hire experienced Payment Advisors, collector training is still a cornerstone of our new hire process. In today’s ever-changing (and regulated) collection environment, it is essential that all Elevate personnel are properly trained on FDCPA, TCPA, HIPAA, FCRA and other federal/state regulations pertaining to the collection industry. This also includes training/re-training new hires on industry best practices and effective collection techniques, through programs such as ACA International’s Essential Collection Skills & Techniques. Training continues outside the Elevate classroom with new hires receiving side-by-side training with experienced Payment Advisors, coaching and mentoring from team leads and managers, and monthly call reviews. As new hires grow to become experienced Payment Advisors themselves, their opportunities for continued learning also grows.
Even though most of the Elevate staff has been involved in the healthcare collections industry for years, many don’t understand the mechanics of how a business actually operates and the costs associated with it. As such, the company president frequently meets with staff to discuss the nuts-and-bolts of the business: letter costs, state licensing requirements, employment expenses and the revenue cycle sales process are just some of the topics that have been covered in these educational meetings. Elevate also routinely invites outside experts to participate in lunch-and-learn activities, where employees learns about retirement planning, healthy lifestyles, effective communication and personal development…just to name a few.
While Elevate continues to explore areas where we can assist our employees in their quest to expand their learning opportunities, it is ultimately the responsibility of every employee to take ownership of their education goals and growth. Watching TedTalks, reading self-help books and industry publications, taking online personality profiles, and no-cost continuing education courses are just a few areas where employees can take advantage of expanding their knowledge. Success can be driven by the education you get from your employer, but the education you acquire yourself is more important and satisfying.