CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow ACA International Study: Women Make Up Majority of Workforce in Collections Industry
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
ACA International Study: Women Make Up Majority of Workforce in Collections Industry PDF Print E-mail
Wednesday, 20 January 2016

CA International, the association of credit and collection professionals, has released a new whitepaper “Diversity in the Collections Industry: An Overview of the Collections Workforce,” which shows that the credit and collection industry has one of the more diverse workforces in the U.S. 


Using U.S. Census data and information from the Bureau of Labor Statistics, ACA found that while women constitute roughly 47 percent of the overall U.S. workforce, women make up 70 percent of the total collections workforce.

As a further testament to the diversity of the industry, racial and ethnic minorities account for 40 percent of the total collections workforce today. Specifically among women, racial and ethnic minorities also account for 40 percent of the total workforce population.

“The stereotypical image of a debt collector couldn’t be further from the truth,” said ACA International Director of Research Josh Adams, PhD. “Women and people of color play a significant and important role at collection agencies nationwide. “

Among ACA member companies, 24 percent report being a minority of women-owned business; and these firms are creating jobs for even more people. According to the whitepaper, in a fall 2015 membership survey conducted by ACA, 95 percent of minority or women-owned firms employed an average of 22 employees. In contrast, The National Women’s Business Council found that, as of 2012, roughly 89 percent of women-owned businesses “[had] no employees other than the owner.”

As an industry that works with consumers from all socioeconomic, social, racial, and ethnic groups, it is important to have a workforce that reflects and represents those groups. The current trends in the industry speak to a level of responsiveness to the evolving consumer environment and an adaptability to meet those needs.

“The data shows that debt collection professionals reflect the diversity of the US consumer population,” said ACA International CEO Patrick J. Morris. “The stereotype of the debt collector portrayed in the media is simply not true, and this is good for the industry as well as the consumer. More diversity in the collection agency workforce means more good ideas on how to fairly and amicably resolve accounts with a diverse consumer base.”

ACA International‘s whitepaper is part of a new research initiative that aims to collect original and meaningful data about the credit and collection industry and to quantify the ways that debt collectors help consumers and the overall economy.
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197