Credit Research Foundation's Incentive Programs Survey
Current Trends in the Practice of Incentive Pay for Collection Activity
Live Report
06-Mar-2001 6:14:54 PM
There are a total of 289 responses FROM 13-Feb-2001 to 02-Mar-2001.
-
Do you employ an incentive program for your collectors?
 |
| | Percent | Count | Answers |
|---|
|
|
33.3% |
89/267 |
Yes |
 |
66.7% |
178/267 |
No (skip to question 3.3) |
|
| | 100.0% | 267/267 | Summary |
|
-
How long have you been using an incentive program?
|
| | Percent | Count | Answers |
|---|
|
|
20.5% |
18/88 |
less than 1 year |
|
29.5% |
26/88 |
1 - 2 years |
 |
20.5% |
18/88 |
2 - 5 years |
 |
29.5% |
26/88 |
over 5 years |
|
| | 100.0% | 88/88 | Summary |
|
-
What is the incentive?
|
| | Percent | Count | Answers |
|---|
|
|
25.3% |
73/289 |
Cash |
|
8.3% |
24/289 |
Non-monetary incentive |
|
-
If Cash, is there an upper limit to the amount of the incentive offered?
|
| | Percent | Count | Answers |
|---|
|
|
73.6% |
53/72 |
Yes |
|
26.4% |
19/72 |
No, Unlimited |
|
| | 100.0% | 72/72 | Summary |
|
-
Is the base salary significantly lower than the market rate, requiring the individual to meet objectives in order to earn market rate wages?
|
| | Percent | Count | Answers |
|---|
|
|
6.6% |
6/91 |
Yes |
|
93.4% |
85/91 |
No |
|
| | 100.0% | 91/91 | Summary |
|
-
Are the incentives based on:
|
| | Percent | Count | Answers |
|---|
|
|
22.7% |
20/88 |
Individual performance |
|
30.7% |
27/88 |
Departmental (Team) performance |
|
37.5% |
33/88 |
Combination of individual and team performance |
|
9.1% |
8/88 |
Other |
|
| | 100.0% | 88/88 | Summary |
|
-
How often is the reward given?
|
| | Percent | Count | Answers |
|---|
|
|
1.1% |
1/87 |
Weekly |
|
31.0% |
27/87 |
Monthly |
|
33.3% |
29/87 |
Quarterly |
|
3.4% |
3/87 |
Semi-annually |
 |
23.0% |
20/87 |
Annually |
 |
8.0% |
7/87 |
Other |
|
| | 100.0% | 87/87 | Summary |
|
-
Are the current goals based on last year's results?
|
| | Percent | Count | Answers |
|---|
|
|
41.1% |
37/90 |
Yes |
|
58.9% |
53/90 |
No |
|
| | 100.0% | 90/90 | Summary |
|
-
If Yes, are the goals:
|
| | Percent | Count | Answers |
|---|
|
|
33.3% |
12/36 |
The same as last years results or |
|
66.7% |
24/36 |
A percent of last years results |
|
| | 100.0% | 36/36 | Summary |
|
-
Indicate which of these performance measures are used to establish goals?
|
| | Percent | Count | Answers |
|---|
|
|
10.7% |
31/289 |
Cash Receipts |
|
16.6% |
48/289 |
Days Sales Outstanding |
|
6.2% |
18/289 |
Average Days Delinquent |
|
4.2% |
12/289 |
Collection Effectiveness Index |
|
7.6% |
22/289 |
Percent Current |
|
5.9% |
17/289 |
Past Due 31+ Days |
 |
10.0% |
29/289 |
Past Due 61+ Days |
 |
11.1% |
32/289 |
Past Due 91+ Days |
 |
4.5% |
13/289 |
Bad Debt to Sales |
 |
8.0% |
23/289 |
Other |
|
-
Do you feel your incentive program could have an adverse effect on other parts of your organization?
|
| | Percent | Count | Answers |
|---|
|
|
14.0% |
13/93 |
Yes |
|
86.0% |
80/93 |
No |
|
| | 100.0% | 93/93 | Summary |
|
-
How would you rate the effectiveness of your incentive program?
|
| | Percent | Count | Answers |
|---|
|
|
17.0% |
15/88 |
1 |
|
42.0% |
37/88 |
2 |
|
22.7% |
20/88 |
3 |
|
14.8% |
13/88 |
4 |
|
3.4% |
3/88 |
5 |
|
| | 100.0% | 88/88 | Summary |
|
|
49.1% | 2.5/5 | Overall rating from 1 to 5 |
| 1 is very effective and 5 is not effective |
-
Did you ever deploy an incentive program and then discontinue it?
|
| | Percent | Count | Answers |
|---|
|
|
4.0% |
10/252 |
Yes |
|
96.0% |
242/252 |
No |
|
| | 100.0% | 252/252 | Summary |
|
-
Do you intend to deploy an incentive program in the future?
|
| | Percent | Count | Answers |
|---|
|
|
41.1% |
102/248 |
Yes |
|
58.9% |
146/248 |
No |
|
| | 100.0% | 248/248 | Summary |
|