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of Attorneys

Worldwide Legal Referrals to the
Credit Industry Since 1900

Volume 53 Issue 53,  June 2008
 


 

 
            
            

 Summary of Collection Laws!

NEW
Updated for
 2008-2009

Click here to get your copy!

 
            
            

 Bankruptcy Court Information

NEW
Updated for
 2008-2009

 Click here to get your copy!

            
            

 

State Buyer Exchange Program

            
            

            
            

  

            
            
 

Food for thought:

There are only two kinds of people who fail:
those who listen to nobody, and those who listen to everybody.
 
  

            
            

            
            
 

Guest Column
Kaulkin Ginsberg

 

Survey Shows Tough Times But Rosier Outlook for Collectors

by Patrick Lunsford
insideARM
June 17, 2008

Our Confidence Survey for collection agencies shows that the current economic downturn is impacting ARM companies, but most think that things will improve later this year as the worst is behind us.

The final results of insideARM's Confidence Survey have been compiled. Thanks to all who participated. We had more than 320 total responses from the accounts receivable management industry, including debt collection agencies, credit issuers and vendors to the industry.

To read the full article and survey results, click here.

 

  

                      

                       

NL Member News

            

  
Thank you to all of the ladies that attended the PWCI Network meeting in Seattle. Visit www.pwcinetwork.com for information on the Professional Women in the Collections Industry Network. Our network meets during industry conferences and communicates throughout the year via conference calls. Our objective is to provide a safe environment for professional leaders of all levels to meet other women in the industry and share valuable knowledge, experience and resources.



Improving Employee Retention during Challenging Times

The difficulty in finding and keeping talented employees is having a serious impact in today's challenging work environments. In addition to those retiring, surveys show that one out of every three workers plan to quit their jobs this year. The greatest threat employers face is losing their best and brightest to the competition. That's a lot of talent leaving organizations, and it may be just the beginning.
Money and benefits are important, but studies show most employees leave for other reasons. Obviously, a certain amount of turnover is unavoidable, but with a small amount of effort organizations can make a difference.

• Organizations experience the highest rate of turnover during an employee's first 90 days on the job. To attempt to counter this trend, quickly assimilate the new worker into the organization. Make the first critical days stand out as a positive experience. This is a great opportunity to make new employees feel good about choosing your organization as a place to work.

• Whenever possible, provide flexible work schedules adapted to the needs of the individual. Workers tend to migrate to an organization with benefit packages and schedules that help them to meet the demands of their lives, whether they are single parents, adults who care for aging parents, older employees, younger workers, or part-time employees.

• Provide opportunities for career development. For many workers, learning new skills and advancing their careers is just as important as the money they make. In recent surveys, more than 40 percent of respondents said they would consider leaving their present employer for another job with the same benefits if that job provided better career development and greater challenges.

• Motivate your employees based on what is important to them. Self-fulfillment, the ability to make decisions, and the opportunity to overcome challenges are what most employees care about. To meet the challenge as a leader, create shared goals and make the work worth doing. Effective leaders are able to convey how important each and every position is to the success of the organization. By understanding the values of your employees and matching environment that promotes employee retention.

Reprinted From St. Alexius Employee Assistance Program - Supervisory Update - May 2008


Creating Less Stress in the Workplace

Stress is often a hot topic in the workplace. Some employees become emotionally upset about just about everything. Other employees calmly take almost any sort of situation in stride. Here are some useful tips in to help you to more confidently handle the stressors that you encounter.

Create Positive Working Relationships
Low-stress employees usually create smooth working relationships with practically everyone. To do this, find things you have in common and be friendly with everyone you encounter at work. Always be diplomatic and tactful. Never act impatiently or respond in anger, regardless of how frustrated you may feel. Expressing anger in the workplace usually results in feelings of resentment, and direct or sublet retaliation, both of which surely increase stress.

Learn What is Expected of You
Find out what is expected of you by your supervisor and your second level manager. These two people can make or break your career, and they can greatly affect the stress that you experience. When you meet their expectations you can simultaneously present yourself as a professional, and you will be able to decrease your potential to experience stress at work.

Structure & Monitor Your Performance
Each day before leaving work, write a list of the tasks that you need to accomplish the next work day. This quick organizing technique helps to prevent you from feeling overwhelmed by the work that you need to complete within deadline requirements and in a timely manner.

Set Goals for Yourself
High-stress people rarely take actions to accomplish their goals. Low-stress people consistently engage in projects and activities designed to achieve their short-term or long-term goals.

Here is a revealing test to discover how much time you actually devote to achieving your goals. First, write down everything you did during the last seven days at work. Second, on a separate sheet of paper, list you (a) three short-term career goals to achieve in the next three months and (b) three long-term career goals to achieve in three years. Third, look at your seven-day activity list, and note any actions you did that helped you to accomplish your short-term or long-term professional goals.
Typically, workers spend less than five percent of their time doing activities that will achieve their work-related goals. And, employees feel more frustrated and stressed when they do not accomplish their short-term and long-term goals.

Reprinted From St. Alexius Employee Assistance Program - Professional Update - May 2008
   


 Upcoming Events

   
 
Our partner in continuing education National Business Institute, the nation's largest public provider of continuing education, offers tuition savings on ALL NBI continuing education courses for NL Members & Registered NL Users! Click Here to view some hot topics offered in the coming months (check out the Teleconferences too!)


 Debt Connection

  Debt Connection Symposium & Expo 2008
  September 3-5, 2008
  San Diego Marriott Hotel & Marina
  San Diego, CA
  Visit www.dcs2008.com

 
 
   NARCA

   2008 Fall Collection Conference
   October 16-18, 2008
   Washington, DC
   Visit http://www.narca.org