COVID-19 has forced a lot of people to work from home. Industries such as technology, art, and even debt collection, where the worker doesn’t need to be physically present at the office to complete their tasks, are especially encouraging and even equipping staff to adapt to this new norm.
Pros and Cons of Working from Home
The biggest benefit of working from home during the COVID-19 pandemic is the reduced risk of catching and spreading the virus. Moreover, other benefits beyond the containment of COVID-19 include:
- Less time on the road: According to the Texas A&M Transportation Institute, Americans spend about 54 hours stuck in traffic every year. That’s time that can be saved if employees work from home.
- Money savings: Global Workplace Analytics estimates that individual workers save $2,000-$6,500 yearly by working from home. Employers tend to save even more. The US Patent and Trademark office saved $38 million in 2015.
- Increased job satisfaction: People who telecommute report greater job satisfaction. According to a report in 2005, each additional hour spent working from home makes the employee happier and more content with their job.
Challenges of Telecommuting
On the flip side, working from home exposes both employees and employers to a range of challenges, with cybersecurity issues being especially common. It’s a lot easier for cybercriminals to target and successfully infiltrate individuals working from home. Additional telecommuting challenges include:
- Difficulty monitoring performance
- Increased telecommunication costs
- Not all jobs can be done from home
Enter D2R Debt Recovery Solutions
Debt collection is one of the industries in which the new work-from-home trend has created many new opportunities, despite the aforementioned challenges.
Given the dire economic situation, a lot of people are struggling to fulfill their debt repayment commitments. The majority are willing to do anything to repay on time but have lost jobs, had their businesses closed, or currently shoulder more financial responsibilities. Additionally, sending collectors out there exposes them to COVID-19.
D2R Collect has incorporated several new debt recovery solutions to make the collection process less troublesome for both the collection agency and the debtor. These features include:
- Automated notices
- Client management
- Callback scheduling
- Payment plans
- Transaction management
Start Your Trial Today
The best part about the D2R-Collect software is that it’s free for the first month. You only begin paying if, after the trial, you’re satisfied with the debt recovery solutions. Contact us today to get started.