Benjamin Franklin once said “an investment in knowledge pays the best interest.”

The original intent of this quote, which has stood the test of time, was related to financial planning. However, it has since taken on a life of its own and it is commonly used as a rallying cry for education and a lifelong pursuit of learning.

As someone who has been working in the corporate training field for more than 30 years, I believe this is the mindset that corporations should use when thinking about employee training and development programs.

Consider that 68 percent of workers view training and development as the most important workplace priority. Furthermore, 40 percent of employees who receive poor job training leave their positions within the first year. Lastly, research suggests that companies with robust training programs enjoy a 24 percent higher profit margin than those who spend less on training.

These are just a few of hundreds of readily available statistics that show the importance of employee development. However, in my view, far too many companies either ignore it or view it as a one-time, transactional, “check the box” exercise.

At Servicing Solutions, employee development is not only something we prioritize, but it is an integral part of our corporate fabric…and for good reason. Our clients trust our call center employees to be the forward-facing arm of their business…interacting with customers, providing exceptional service, protecting their sensitive information, answering their questions, and resolving disputes, as necessary.

Simply put, we are trusted to protect the value and brand of our clients’ portfolios, and we can only accomplish that employing—and developing—the best of the best.

The Servicing Solutions training model includes:

  • Robust New Hire Training:  Rather than a half-day orientation or 3-day training session that so many are accustomed to, we provide up to three weeks of classroom training, which includes lectures, hands-on activities, and side-by-side training with someone on the floor.  New hires must obtain passing scores on quizzes, a test on the FDCPA, and a final exam as well as show the necessary skills.
  • Gateway Training: Training does not stop after the initial classroom period.  Our gateway training program continues thenew hire training on the floor. Applying the wealth of information covered in the classroom, gateway training allows new hires to apply their learning under careful guidance  to ensure they are doing the job right.
  • Ongoing Training: Our goal at Servicing Solutions is to retain the best and brightest and provide a career, not just a job.  Every employee receives ongoing training and support to make this possible. This can include classroom training when systems or processes change, refresher compliance training or the implementation of company-wide initiatives.
  • Leadership Training: Our leadership training program focuses on passing on the skills and experience of our core management team to our next generation of leaders. For example, we have a variety of management and leadership books that expose our leaders to relevant concepts focused on engaging with and developing employees. The concepts are discussed in a group setting led by the core management team. Additional training sessions focus on the skills and knowledge we expect all our leaders to have.

In future blog posts, I will share specific learning and development strategies, as well as examples of success.  For now, I will leave you with a comment from our President & CEO, Louis Ochoa, that has always stuck with me:

“Our employees deserve great training.”

This simple sentence is perhaps the best example of our perpetual commitment to employee learning and development, and why our clients’ portfolios will always be serviced by the best of the best.