Rapid growth sparks collections agency to add staff

A former software-company-turned collections agency plans to take on 120 new employees by 2012 due to revenue growth that has far exceeded expectations. CKS Financial, a collections firm based in Chesapeake, Virginia, expects to hire 41 workers this year and another 80 or so next year, according to The Virginian-Pilot. "We have exceeded our expected growth," John Sanders, director of operations, told the media outlet. The company is in the market for new staff after projections found that CKS' revenue will likely quadruple in this year, compared to its 2010 numbers. The firm saw a 300 percent rise in revenue from 2009 to 2010. InsideArm adds that the company currently staffs around 25 employees, and while most new hires will be debt collectors, managers and supervisors will also be needed. CKS pays its agents a salary between $20,000 and $29,000, with managers earning between $33,000 and $45,000 per year, The Pilot adds. The Omaha World-Herald notes the addition of new business can help free up positions at debt collections agencies. Last month, Omaha Nebraska-based firm West Asset Management added 170 full time jobs after landing a major automotive company as a new client. The company declined to disclose the name of the new client. However the additions were necessary not only to its collections team, but its service financial loans division as well. West's full time staff earns $12 per hour, with monthly bonus opportunities, medical and dental insurance, paid vacation and 401(k) options. Paid training and tuition reimbursement are also available, according to the media outlet. A national recognition program created by insideARM observes the best employers in the collections agency for small, medium and large firms, its homepage notes. The Best Places to Work in Collections is a two-part survey program for businesses that have been active for at least one year. Employers must provide information on workplace policies, practices, philosophy, systems and demographics. Staff must then complete a survey that measures the employee experience. The combined scores determine the top companies and its final rankings. Professional Account Services of Brentwood, Tennessee, was awarded the best collections firm to work for of companies with 250 or more employees in 2010. For organizations with 75-to-249 employees, Rock Hill, South Carolina-based Williams and Fudge was victorious, while Receivable Recovery Partners of Indianapolis, Indiana, won for small agencies with 75 or less on staff.