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Top Interviewing Strategies For Collection Specialist

Explore highly structured and skillful interviewing techniques for Collectors to ensure effective cash flow management of an organization.

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About this course

description
lessonOverview

Seven Steps to Superior Collections, Step Two: Interviewing Collection Specialist Candidates

Once candidates who appear to meet your requirements for collection specialists have been recruited, you must narrow the field down to those best suited for the job. That means highly structured and skillful interviewing. The interviewing technique recommended by Collection Training Expert John Zimmer is known as Targeted Selection--that is, interviews that evaluate candidates' competencies based on their past behavior.

Targeted Selection -- Interview Questions
Zimmer teaches his clients to use what he refers to as the "S*T*A*R*" interview system, with that being an acronym for the following: Situation, Task, Action, and Result. The method is based on Targeted Selection Interviewing methodology (TSI), a concept that is based on the belief that a job candidate's past performance is the best predictor of their future behavior in a similar situation. The structure looks like this:

  1. Describe a situation that fits the question you have been asked
  2. Briefly state what your Task was in relation to the situation
  3. State what actions you took and finally,
  4. What were the Results due to your efforts?

With the above principles in mind, the following are four sample S*T*A*R*-method interview questions that Zimmer recommends:

  1. Describe a situation you faced when something you said or did was misunderstood. What did you do to clarify or resolve the situation? What was the end result? (This examines communication skills)
  2. Recount a time when you disagreed with a co-worker or team member. What was the basis for your difference of opinion? How was the difference worked out? What was the end result of your interaction? (interpersonal skills)
  3. Describe a situation when you were not proud of what you accomplished. What was the challenge or issue you faced? Why do you think your results were not up to par? What did you learn from the situation? (self-assessment skills)
  4. Recount a time when you had to go the "extra mile" to complete a project. Why were you in that situation? Were there any other ways to complete the project successfully? (Quality Orientation)

Throughout the interviewing process you should be alert to the following Collection Specialist competencies:

Competency Definition
Negotiation Effectively exploring alternatives and positions to reach outcomes that gain all party's support and acceptance.
Sales Ability (Persuasiveness) Using appropriate interpersonal styles and communication methods to gain acceptance of an idea, plan, activity, service, or product from prospects and customers.
Tenacity Staying with a position or plan of action until the desired objective is achieved or is no longer reasonably attainable.
Results/Goal Oriented Setting measurable goals and objectives for oneself and the willingness to be evaluated against them; motivated by challenges of achieving specific, ambitious results; taking appropriate actions to achieve results; demonstrating creativity and initiative.
Teamwork / Collaboration Working effectively with team, group, or those outside formal line of authority (e.g.: peers, senior managers) to accomplish organizational goals; taking actions that respect the needs and contributions of others; contributing to and accepting the consensus; subordinating own objectives to the objectives of the organization or team.
Customer Service Orientation Proactively developing customer relationships by making efforts to listen to and understand the customer (both internal and external) anticipating and providing solutions to customer needs; giving high priority to customer satisfaction.



instructor
name title image description Ins
David Schmidt Order-to-Cash and SME Risk Expert, Credit Today Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue. Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue.
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KPIs and Reporting
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Top 11 traits for hiring the perfect collector to ensure effective debt collection by increasing your collection's cash flow.
academy.highako.com/interviewing-strategies-collectors
 
Collections Prioritization
Effective Credit and Collection Strategies During Recession
This course gives you effective credit and collection strategies that can be used by credit managers during an economic downturn.
https://academy.highako.com/collections-strategy-during-recession-course
 

About this course

description
lessonOverview

Seven Steps to Superior Collections, Step Two: Interviewing Collection Specialist Candidates

Once candidates who appear to meet your requirements for collection specialists have been recruited, you must narrow the field down to those best suited for the job. That means highly structured and skillful interviewing. The interviewing technique recommended by Collection Training Expert John Zimmer is known as Targeted Selection--that is, interviews that evaluate candidates' competencies based on their past behavior.

Targeted Selection -- Interview Questions
Zimmer teaches his clients to use what he refers to as the "S*T*A*R*" interview system, with that being an acronym for the following: Situation, Task, Action, and Result. The method is based on Targeted Selection Interviewing methodology (TSI), a concept that is based on the belief that a job candidate's past performance is the best predictor of their future behavior in a similar situation. The structure looks like this:

  1. Describe a situation that fits the question you have been asked
  2. Briefly state what your Task was in relation to the situation
  3. State what actions you took and finally,
  4. What were the Results due to your efforts?

With the above principles in mind, the following are four sample S*T*A*R*-method interview questions that Zimmer recommends:

  1. Describe a situation you faced when something you said or did was misunderstood. What did you do to clarify or resolve the situation? What was the end result? (This examines communication skills)
  2. Recount a time when you disagreed with a co-worker or team member. What was the basis for your difference of opinion? How was the difference worked out? What was the end result of your interaction? (interpersonal skills)
  3. Describe a situation when you were not proud of what you accomplished. What was the challenge or issue you faced? Why do you think your results were not up to par? What did you learn from the situation? (self-assessment skills)
  4. Recount a time when you had to go the "extra mile" to complete a project. Why were you in that situation? Were there any other ways to complete the project successfully? (Quality Orientation)

Throughout the interviewing process you should be alert to the following Collection Specialist competencies:

Competency Definition
Negotiation Effectively exploring alternatives and positions to reach outcomes that gain all party's support and acceptance.
Sales Ability (Persuasiveness) Using appropriate interpersonal styles and communication methods to gain acceptance of an idea, plan, activity, service, or product from prospects and customers.
Tenacity Staying with a position or plan of action until the desired objective is achieved or is no longer reasonably attainable.
Results/Goal Oriented Setting measurable goals and objectives for oneself and the willingness to be evaluated against them; motivated by challenges of achieving specific, ambitious results; taking appropriate actions to achieve results; demonstrating creativity and initiative.
Teamwork / Collaboration Working effectively with team, group, or those outside formal line of authority (e.g.: peers, senior managers) to accomplish organizational goals; taking actions that respect the needs and contributions of others; contributing to and accepting the consensus; subordinating own objectives to the objectives of the organization or team.
Customer Service Orientation Proactively developing customer relationships by making efforts to listen to and understand the customer (both internal and external) anticipating and providing solutions to customer needs; giving high priority to customer satisfaction.



instructor
name title image description Ins
David Schmidt Order-to-Cash and SME Risk Expert, Credit Today Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue. Dave is an order-to-cash and SME risk expert with over 27 years of experience. He focuses on the order-to-cash side of the working capital coin applying his knowledge and expertise with receivables, credit, and collection best practices and technology to maximize clients' performance. Dave aims at providing insights into the small and medium enterprise (SME) community by delivering actionable intelligence solutions for clients to drive efficiency, manage risk and grow revenue.
related
image tag title description link contentType
KPIs and Reporting
Hiring Collectors
Top 11 traits for hiring the perfect collector to ensure effective debt collection by increasing your collection's cash flow.
academy.highako.com/interviewing-strategies-collectors
 
Collections Prioritization
Effective Credit and Collection Strategies During Recession
This course gives you effective credit and collection strategies that can be used by credit managers during an economic downturn.
https://academy.highako.com/collections-strategy-during-recession-course