TRAINING & DEVELOPMENT OF REPOSESSION / COLLECTION STAFF

CONCEPT NOTE ( As on March 26, 2009 )

Concerns:

The key concerns identified are as follows:

1. Lack of assertive communication;2. Unstructured approach while facing defaulting clients;3. Ineffective projection of personality;4. Lack of confidence and conviction.

Solution:

The proposal to address this is as follows:

1. A 3 day workshop to cover all CS4, CS5, CS6 and CS7 categories in Collection for all the 9 regional teams. There would be approx 30 participants in each workshop.

2. The broad content would cover:

a) Srei (Know Your Organisation);b) ARM Financial / Technical topics;c) Legal aspects;d) Role clarity exercise;e) Effective communication model;f) Assertive communication;g) Barriers to communication;h) Non verbal communication;i) Assessing different customer profiles;j) Objection handling techniques;k) Role plays with live examples;

3. The workshop methodology would be a mix of Instructor Led Discussion, Group Exercises, Role Plays, and Case Studies.

The focus of this workshop is less on knowledge dissemination and more on Skill Building / practice.

The workshop would start with a background of Srei, organisational strengths and achievements to reinstate organizational pride, list of the big projects being carried out by the group companies, setting the base for imbibing confidence in self and the organization which in turn would get reflected in their behaviour. The best practices of recovery followed in organizations like ICICI, HDFC, GE, Magma etc would be analysed to get a universal approach to the how-to of handling recovery and collection cases.

The legal aspect of recovery / collection would start with a basic quiz to analyse the current knowledge of the employees. After discussing the answers to the quiz, the participants would be taken through a PowerPoint presentation with around 10 slides on know – how of the relevant legal process and practices would be discussed. This would be covered in 2-3 hours.

Case studies would be only used to highlight how the participant should go about doing what they do. These would be based on live cases being faced by the team in the field. We would require at least 3 or 4 relevant case details from across India to help for this.

The participants could also be asked to start with their best examples (most difficult cases) in the field, pitting good against good, people from different regions and so on. This would be recorded with the participants in the same room for review / feedback. This provides an opportunity to each participant to speak in public and handle the pressures associated thereof.

The workshop would include relevant AV clippings from films to be de-briefed to bring out learnings. Also, there would be address by the CEO and other members of the senior leadership team.

Region wise 3 days workshops would be held starting from the end of April 2009 / start of May 2009. In some cases depending on numbers and logistics regions may be mixed.

The focus is primarily on boosting confidence and conviction and how to use appropriate body language to demonstrate such confidence during client interaction. Specially for those officers handling the “soft bucket” collections i.e. ( 3 to 5 EMI overdue ).

4. Learning – Take Away

Each exercise would be followed by an extensive debrief to help all participants understand what went well, what could have been better and to capture key learning. Examples from across the country would be shared to give a better perspective.

5. Action Plan

At the end of the 3 days each participant carries back a list of key learning and a clearly defined 30 days Action Plan. This plan would be reviewed every 7 days by the supervisor to help implementation. A report from the reviewer to be sent up to the process owner and T&D personnel every month.

6. Help Needed

Following would be the help needed from the user department:a) List of participants from each region along with their current supervisor name;b) Communication from the HOD to the regional team re this roll out;c) AV clipping from HOD / CEO to be shown at the start of the session;d) Case studies depicting good and not so good practices;e) Implementation of the review mechanism each week for the next 30 days;f) Approval to the training roll out plan and budget.