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Collection team lead hiring summary. Here are some key points about hiring collection team leads in the United States:
Here's a step-by-step collection team lead hiring guide:
First, determine the employments status of the collection team lead you need to hire. Certain collection team lead roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them a collection team lead to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a collection team lead that fits the bill.
This list presents collection team lead salaries for various positions.
| Type of Collection Team Lead | Description | Hourly rate |
|---|---|---|
| Collection Team Lead | Bill and account collectors, sometimes called collectors, try to recover payment on overdue bills. They negotiate repayment plans with debtors and help them find solutions to make paying their overdue bills easier. | $23-47 |
| Account Representative | Account representatives are employees who manage client accounts and act as the main contact of the clients they are handling. They maintain existing accounts by updating client details regularly... Show more | $12-24 |
| Medical Collector | A medical collector deals with collection of bills related to medical services. They handle healthcare-related debt, collect patient insurance information, and develop repayment plans to accommodate debtors that are unable to settle their accounts... Show more | $14-20 |
A collection team lead job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of a collection team lead job description:
There are various strategies that you can use to find the right collection team lead for your business:
To successfully recruit collection team leads, your first interview needs to engage with candidates to learn about their interest in the role and experience in the field. You can go into more detail about the company, the role, and the responsibilities during follow-up interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect collection team lead candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
Once that's done, you can draft an onboarding schedule for the new collection team lead. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
There are different types of costs for hiring collection team leads. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new collection team lead employee.
The median annual salary for collection team leads is $68,868 in the US. However, the cost of collection team lead hiring can vary a lot depending on location. Additionally, hiring a collection team lead for contract work or on a per-project basis typically costs between $23 and $47 an hour.