Polaris Releases Hiring Benchmarking Survey Results

The ACA affiliate member’s 2014 Credit & Collections Hiring Benchmarking Survey shows trends in turnover in collections roles and growth in full-time collections jobs.

Polaris Assessment Systems, Inc., an ACA International affiliate member based in Grosse Pointe Park, Mich., has issued some of the results from its 2014 Credit & Collections Hiring Benchmarking Survey.

This year’s study revealed some interesting findings regarding hiring in the credit and collection industry, according to Polaris. Across all respondents, for example, agencies reported an average of 37 percent turnover in collections roles over the past year, and they anticipate lower turnover—22 percent on average—in the coming year. Responding agencies also reported an average of 33 percent anticipated growth in the number of full-time collections jobs in the coming year.

Criminal background checks, reference checks, and structured interviews were the hiring process steps most frequently reported by respondents as currently in use. In terms of sourcing good candidates, responding agencies reported the greatest success with employee referrals, followed by ads placed on certain online job boards.

“We continually receive questions from our clients in the credit and collections industry about how their recruiting and hiring practices compare to those of other agencies,” said Brad Chambers, Polaris senior vice president and COO. “The results from this survey are a great source of benchmarking data.”

For additional information or to receive a complimentary copy of the benchmarking report, please contact Brad Chambers at 513-755-0186 or bchambers@polaristest.com.