Outsourcing screening and debt collection may be the cheaper option.
Email, Meetings and disruptions take a huge bite out of the typical employees work day. According to an Article published showing statistics gathered by Atlassian the cost is high, usually much higher than outsourcing. The average employee gets 304 emails weekly. And check email about every 20 minutes. It also takes about 16 minutes for the average Employee to re-focus when they finish. Unproductive meetings are another waste of time. The average employee spends about 31 hours each month in unproductive meetings. This includes 91% of employees who say they daydream. It is one of many non-productive meeting activities. In addition, meetings also require re-focus time when getting back to work. The average employee is interrupted 56 times each day. It takes about two hours daily for the employee to recover from these distractions at about 3 minutes per distraction. Eighty percent of interruptions are considered trivial. In all, no more than 60 percent of work time is productive for the typical employee. Take a look at the article below for more details. So, if your employee spends time calling, writing, faxing and emailing debtors, their actual productivity is much less than you thought. Their cost, therefore, is much higher. https://www.atlassian.com/time-wasting-at-work-infographic
Understanding debt collection and background screening best practices can save your business big money. Building up front applicant screening into your business processes costs you very little, but saves you so much in the end. If you havent already, partner with a full service debt collection and applicant screening company to guide your business to a place of security and prosperity.
ABOUT EXECUTIVE CREDIT MANAGEMENT, INC.
Executive Credit Management is a full-service Debt Collection and Applicant Screening agency with over 20 years experience located in Central New Jersey. We provide excellent service in the following areas: Employment Screening, Business Screening, and Tenant Screening. Executive Credit Management belongs to a number of Skip Tracing databases and offers services to help locate and confirm the current address of missing debtors. Other services provided are: litigation evaluation on all lawsuit decisions, improvement of the quality of the applicant data, Lawsuit Monitoring, Handling of Debtor Disputes. Executive Credit Management features the best Call Monitoring System in the Debt Collection industry.