How to Make Your Next Collection Agent Hire
Get data-driven information to help guide you through the hiring process. Then, when you’re ready, post your job to SimplyHired and reach top candidates from all across the web.
Last updated at 09-16-2020 18:28:19
More than 5,487 companies advertise 22,022 Collection Agent jobs on SimplyHired and its partner sites each year. After analyzing job postings and salary information from these companies, as well as direct job seeker feedback, we’ve compiled a list of insights to show you how to attract and hire your next Collection Agent most efficiently.
In the past quarter, we’ve seen 6,374 job posts from 2,344 employers in the United States. This is a increase of 20.0% compared to the previous quarter. On average, there are 130 Collection Agent job seekers for every active Collection Agent job, which shows that it is an employer's market.
Writing a Job Description
In the past quarter, Customer Service Representative, Call Center Representative, Collection Agent, Accounts Receivable Clerk, Administrative Assistant, Receptionist, Medical Biller, Delivery Driver, Warehouse Worker, and Collection Representative seem to be the most sought after jobs amongst the Collection Agent candidates in the United States. This differs from the last six quarters, where the most popular titles were: Customer Service Representative, Call Center Representative, Accounts Receivable Clerk, Collection Agent, Administrative Assistant, Receptionist, Medical Biller, Front Desk Agent, Delivery Driver, and Warehouse Worker. If you use one of these currently popular titles in the job description, you'll likely be able to attract a lot more candidates to apply.
For the Collection Agent candidates who are actively applying to jobs in this same period, we see that 6.2% of the active Collection Agent candidates have less than 3 years of experience, 13.8% have between 3-5 years of experience, 28.1% have 6-10 years of experience, and 51.9% have over 10 years of experience. The average years of experience has shifted from an estimated 10.6 years to 10.1 years. If you're posting a job in today's market, expect candidates with about the same experience level to apply to your job compared to the last 2 quarters.
In the previous quarter, the most popular skills that employers are looking for include communication skills, customer service, Microsoft Excel, Microsoft Office, computer skills, Microsoft Word, negotiation, bilingualism, Spanish, and Microsoft Outlook. Demand for writing skills, Spanish, computer literacy, multilingualism, bilingualism, English, customer service, Microsoft Excel, medical billing, and medical terminology has significantly increased. If you are looking for a Collection Agent with a similar skill set, be sure to follow industry best practices in skill requirements.
Job posts with salary information received about 1.6 as many applies as those without it. In the past quarter, less than 34.6% of the job posts displayed salary information. By adding salary information to your job posting, you could potentially increase the number of applicants by approximately 60.0%.
Example Collection Agent responsibilities
- Contact debtors by telephone, post, or in person to collect credit card payments
- Schedule payment plans and communication with debtors
- Determine which accounts or areas require legal action, and follow up with appropriate notices
- Coordinate with attorney as necessary to ensure accuracy of documents
- Observe local and state collection laws
When reaching out to candidates, it’s best to understand where to look. We’ve identified hiring trends in states as well as companies regularly hiring for Collection Agent positions. This should provide a good place to start looking for qualified candidates. According to our data in the last quarter: Texas, Florida, California, Ohio, and New York are the states that have the highest demand for Collection Agents. Texas, Florida, California, New York, and Ohio are where most job seekers are searching for Collection Agent jobs. If we look at the Collection Agent to job ratio, Wyoming, Kansas, New Mexico, Alaska, and Vermont have the lowest number of Collection Agent applicants per job. New Hampshire, Washington, West Virginia, North Carolina, and Montana have the most active Collection Agent job seekers per job.
While actively recruiting candidates for your role, you should also post your job to SimplyHired. By posting for free and paying only for the qualified applicants you want, your post will automatically go to a network of job boards to reach millions of qualified candidates. With SimplyHired, it doesn’t end with the post. You can track your applicants throughout the hiring process with our simple and easy to use Applicant Tracking System (ATS).
In the last quarter, we estimate there are 802,405 job seekers interested in Collection Agent opportunities in the United States. That’s a 38.8% increase compared to the previous quarter with 597,732 active job seekers. Around 6.2% of the active Collection Agent candidates have less than 3 years of experience, over 13.8% have between 3-5 years of experience, 28.1% have 6-10 years of experience, and 51.9% have over 10 years of experience. The average experience level of the available Collection Agent candidates is 10.1 years. Active candidates in the Collection Agent profession most commonly have high school diplomas, followed by associate's degrees, bachelor's degrees, and master's degrees. When setting education requirements for your position, aligning with the industry standard makes it easier to find potential candidates. Application rates indicate that Collection Agent candidates are likely experiencing a market in which applicants have less negotiating power. From an employer perspective, you'll have a greater selection of candidates to choose from and may want to invest in automated screening tools.
After analyzing post-interview data from Collection Agent candidates in the last 6 months, we see more than 45.6% of the candidates self-reported being hired within 1 to 2 days. Around 86.9% of the candidates for this job reported being hired within 2 weeks. If your process takes longer than 2 weeks in the recent market, you'll likely lose these candidates to other employers. Most of the Collection Agent candidates are expecting a on-site interview, phone call/screening, background check, and written test. Most employers do not require a problem solving exercises or drug test. If you are trying to hire your next Collection Agent quickly, consider simplifying and streamlining the hiring process. As for the interview experience, more than 65.8% of the candidates had a good or great interview experience, and more than 43% of the candidates thought that the interview leaned more towards easy.
Example Interview Questions
- What do you like most about being in collections?
- If you had a customer with a delinquent account, what options would be available to resolve the issue?
Final Review and Offer
Crafting an Offer: Salary and Benefits
The average Collection Agent salary offered by employers increased for 2 out of 6 consecutive quarters in the United States. In the last quarter, we see a decrease of 1% from $45,811.34 to $45,423.32 compared to the quarter before, which is on par with the past 6 quarters. For Collection Agent positions, the most common benefits job seekers reported being offered by employers include: healthcare insurance by 81.7%, dental insurance by 77.8%, paid time off by 74.6%, vision insurance by 69.8%, a 401k plan by 64.3%, discounts by 26.2%, and stock options/grants by 10.3%. While still relatively rare, more and more employers now offer flexibility benefits, including maternity leave, location variety, paternity leave, sabbaticals, somewhat remote, flexible working hours, mostly remote, and fully remote, to attract and retain Collection Agent candidates to their organization.
Background Check and Drug Test
According to self-reported job seeker feedback, 36.3% of the employers conducted a background check, and 17.1% of the employers conducted a drug test prior to the hiring of their Collection Agent candidates.