Let’s dive into the intricate world of call calibration –Â a crucial process within vendor management that ensures the quality and efficacy of collection calls made by third party collection companies. Let’s explore how meticulous attention to detail and alignment with company objectives foster customer satisfaction, maintain brand integrity, and propel overall business success. From defining objectives and establishing criteria to conducting calibration sessions and fostering collaborative vendor relationships, let’s uncover the profound significance of call calibration in elevating service quality and achieving mutual success.Â
Call calibration, from a vendor management perspective, is a critical process aimed at guaranteeing that the collection calls conducted by your external vendor(s) not only meet but exceed the quality standards established by your company. In the current business environment, where customer experience holds significant importance, the effectiveness of these interactions is crucial. Therefore, meticulous attention is devoted to ensuring that each interaction reflects the values, professionalism, and service excellence your company strives to embody. This comprehensive approach is not only about meeting regulatory requirements but also about aligning with the overarching objectives and vision of your organization. Let’s delve into the intricacies of this process and explore its profound significance in fostering customer satisfaction, maintaining brand integrity, and driving overall business success.Â
Definition and Objectives
Call calibration refers to the process of evaluating and standardizing the quality of interactions between Collectors and customers in a collection floor environment. The primary objectives from a vendor management perspective include:
- Ensuring consistency in collection calls across all Collectors, Team Leads, and Managers that handle your company’s portfolio.Â
- Aligning vendor performance with your company’s image and customer service standards.
- Identifying areas for improvement and providing targeted feedback to your vendor and their Collectors, Team Leads, and Managers.
Establishing Criteria
When hiring a third party collection company, vendor management teams should consider collaborating with your vendor’s internal quality assurance team to establish criteria for evaluating call quality. This typically includes factors such as adherence to scripts, resolution of customer issues, empathy and professionalism displayed by Collectors, accuracy of information provided, and compliance with regulatory requirements.Â
When outlining the criteria for monitoring your portfolio, you might consider developing a call monitoring scorecard. This scorecard can range from straightforward to comprehensive, with Collectors being evaluated based on the listed sections. For instance, an item like “Complied with Call Recording Disclosure” could be included in the scorecard, marked as either Yes or No. You establish the criteria for defining a significant failure versus an informational note on the scorecard. Typically, critical failures might include disclosing information to unauthorized parties or engaging in disputes with customers.Â
Calibration Sessions
Vendor management teams should conduct regular calibration sessions with vendor representatives such as the Collectors, Team Leads, and Managers that work your portfolios. During these sessions, call participants review and assess recorded customer interactions against the predefined criteria. It’s essential to involve representatives from both your company and the vendor to ensure alignment and transparency.Â
In a call calibration session, you’ll want to include several key components to ensure that Collectors are effectively handling calls and adhering to your company’s standards. Here’s some suggestions on what you could involve in a call calibration: Â
- Introduction and Objective Setting: Begin by introducing the purpose of the calibration session, which is to review and evaluate the quality of collection calls. Clearly outline the objectives of the session, such as ensuring compliance with regulations, maximizing debt recovery, and maintaining professionalism.Â
- Call Review: Review recorded debt collection calls selected for calibration. Choose a variety of calls that represent different scenarios, such as calls with successful payment arrangements, difficult negotiations, or instances of customer dissatisfaction.Â
- Scoring and Feedback: Score each call based on the predefined evaluation criteria that you have listed on your call monitoring scorecard. Provide specific and constructive feedback to the agent being evaluated, focusing on both strengths and areas for improvement. Encourage open discussion and input from all participants, including Team Leads and Managers.Â
- Role-Playing and Skill Development: Conduct role-playing exercises to practice handling challenging scenarios commonly encountered during debt collection calls. Provide guidance on effective communication techniques, negotiation strategies, and de-escalation tactics.Â
- Documentation and Reporting: Document the results of the calibration session, including scores assigned to each call and feedback provided to Collectors. Keep thorough records for performance tracking and future reference. Generate reports summarizing calibration outcomes and areas identified for further development.Â
- Continuous Improvement: Emphasize the importance of continuous improvement and ongoing training in debt collection practices. Encourage Collectors to apply feedback received during calibration sessions to enhance their performance and achieve better outcomes in future calls.Â
- Regulatory Compliance Review: Ensure that Collectors are aware of and compliant with relevant regulations governing debt collection practices, such as FDCPA guidelines. Provide updates on any changes to regulatory requirements and reinforce the importance of adhering to legal and ethical standards. Â
By including these components in your call calibration sessions for debt collection, you can effectively evaluate agent performance, identify areas for improvement, and enhance overall effectiveness in collecting outstanding debts while maintaining compliance with regulations.Â
Performance TrackingÂ
Vendor management teams should track and analyze performance metrics to monitor the effectiveness of calibration efforts. Key performance indicators (KPIs) such as positive customer experience scores, first call resolution rates, average handling times, and quality assurance scores are monitored to assess the impact of calibration on overall service quality.Â
Continuous Improvement
Call calibration is an iterative process aimed at continuous improvement. Vendor management teams should collaborate closely with vendors to implement corrective actions and process enhancements based on insights gained from calibration sessions and performance metrics.Â
Vendor Relationship Management
Efficient call calibrations can foster a collaborative bond between your company and its vendor(s), facilitating enhanced communication, shared objectives, and a dedication to ongoing enhancement. Through the utilization of each other’s strengths and resources, this partnership can yield favorable results, including heightened debt recovery. By jointly striving to elevate service quality, both entities can attain mutual success.Â
Summary
Call calibrations in vendor management ensures that collection calls made by third party collection agencies meet quality standards and align with the company’s objectives. This involves defining criteria, conducting calibration sessions, providing feedback, and tracking performance metrics. Key objectives include consistency, alignment with company standards, and identifying areas for improvement. Calibration sessions involve evaluating interactions against predefined criteria, while feedback and coaching aim to enhance agent performance. Performance metrics like customer experience and resolution rates are tracked to assess effectiveness. Continuous improvement is emphasized through collaboration with vendors to implement enhancements. Effective calibration fosters a collaborative relationship between the company and vendors, leading to shared success and improved service quality.Â
Author:Â Jennifer Evancic
LinkedIn:Â Jennifer Evancic-Greenawalt
Jennifer Evancic
Jennifer Evancic is a third-party auditor valued by creditors and large organizations for her knowledge in call monitoring within the collections industry. With meticulous attention to detail and a firm grasp of regulatory requirements, she ensures compliance with clients’ criteria and state and federal regulations.
Jennifer audits collections calls, ensuring they meet client-specific criteria and comply with regulations, providing valuable insights and maintaining industry standards.
Beyond her auditing responsibilities, Jennifer takes the lead in organizing and facilitating monthly call calibrations. These sessions serve as a collaborative forum where clients and their vendors come together to discuss call monitoring results and address any findings or areas for improvement. Jennifer’s guidance fosters open communication and ensures alignment between clients and vendors, driving continuous improvement in collections practices.
Jennifer stays up-to-date with compliance and industry best practices by participating regularly in peer meetings, regulatory updates and industry webinars. This keeps her informed about emerging issues and ensures she remains a knowledgeable leader in collections compliance.
