ConServe strives to set the standard in collections training not only through annual and ongoing training but through its New Hire Training Program. ConServe’s New Hire Training Program is the cornerstone for employee retention; the company continuously enhances it by adding and fine-tuning training modules and courses.
Program Details
A rigorous three-week program, ConServe’s New Hire Training Program consists of several instructor-led training modules that teach company policies and agreements, the ConServe Code of Business Ethics and Conduct, cyber and information security, and compliance with consumer protection laws and regulations including, but not limited to:
- Fair Debt Collection Practices Act (FDCPA) and Regulation F
- Fair Credit Reporting Act (FCRA)
- Gramm-Leach-Bliley Act (GLBA)
- Health Insurance Portability and Accountability Act (HIPAA)
- The Privacy Act of 1974
Learners participate in role-based training activities, call scenarios, call shadowing, and a final competency test. Client-specific training, practical application, and knowledge checks are completed prior to the first distribution of accounts.
To enhance the program, ConServe deployed several new training activities in the last year. These activities or exercises provide simulations, role-playing, and knowledge checks. They include:
- Call Scenarios Opening of a Collection Call
- New Hire CCMS (Compliance Management System) Introductory
- Call Scenarios Payment Arrangements
- Stalls and Objections Note-Taking Sheet
- Talk-Off Scaffolding
- Talk-Off Script Work—Spot the Mistakes
ConServe initially limits how far a new hire may progress in a conversation with a consumer before turning the call over to a supervisor. This allows them to gain confidence in the opening of a call where they authenticate consumers and provide the necessary disclosures. As contact is made with consumers, an Organizational Development Team (ODT) education specialist listens to and evaluates calls with the new hires to help identify areas of strengths and improvement.
ConServe’s Compliance Accountability and Reward System (CARS) measures compliance performance based on the percentage of an employee’s successful monitoring elements achieved as measured against their individual number of monitoring elements for a rolling 90-day period.
Results
In 2023, ConServe’s retention rate from 31 to 90 days of hire was 86 percent, surpassing the company’s goal.
