Black History Month is a time to reflect on accomplishments of Black Americans and invest in professional management training for high potential individuals, says ACA International member Joe Adams.
02/01/2022 9:15 A.M.
3.5 minute read
ACA International’s membership and the accounts receivable management (ARM) industry are becoming increasingly diverse. In recognition of that growth and Black History Month, ACA is highlighting Black leaders’ voices in the ARM industry.
The U.S. has recognized Black History Month in February since 1976, according to the Association for the Study of African American Life and History (ASALH).
Black workers have much higher rates of representation at collection agencies than they do in the general workforce, making up 24% of total bill collectors in 2020, according to research from ACA in partnership with Kaulkin Ginsberg.
Bill collectors work with consumers to recover overdue payments and make up roughly 73% of total collections industry employment.
For Joe Adams, an ACA International Certified Instructor and executive vice president and chief operating officer at Hampton Pryor Group, Black History Month is a time to recognize the accomplishments of Black Americans and a starting point to continue that recognition year-round, he said.
The debt collection industry is diverse in terms of racial demographics. Overall, racial and ethnic minorities make up around 42% of total bill collectors. By comparison, those groups comprise 36% of the total workforce. Black workers made up 12.1% of the total workforce in 2020.
However, Adams said that there is a need for diversity and inclusion at the senior level in the ARM industry.
In this member spotlight, Adams, who has over 35 years of experience in the compliance, call center and ARM industry and eight years as an ACA Certified Instructor, reflects on diversity in the industry since the early part of his career.
Q. What is your ethnic background and how do you celebrate it?
A. African-American. I celebrate it every day by being the best person that I can be.
Q. What is the importance of Black History Month and what does it represent to you?
A. Given the education system in this country, it’s the one month of the year where the vast cultural, industrial, financial, social and business contributions of Black Americans—of all backgrounds—are at least partially recognized.
Q. Who has served as an inspiration in your life?
A. My parents, who built a successful, multi-outlet business in the 1960s with my father having a grade school education and my mother having a high school education.
Q. What has been your experience as a Black person in the current workforce and this industry?
A. During the early part of my career, there were only a few African American influencers on either the creditor or service sides of the ARM industry that were not in sales. Even today, as evidenced by the pre-COVID-19 attendance at various industry events, there still is not a large inclusion of Black Americans at senior levels in the industry or participating in ACA.
Q. How is your company embracing diversity and inclusion among your team and in the industry, both this month and year-round?
A. Hampton Pryor Group is a minority owned and operated business.
Q. Do you have any suggestions for other companies working on educational and inclusiveness programs in the industry?
A. Stop the “social promotions” and have a documented management development and mentoring program. Invest in professional management training for high-potential individuals that have management desires and abilities.
Q. How do you celebrate and honor Black History Month on a personal level and/or at your company?
A. Both personally and professionally, the accomplishments of Black Americans are recognized and celebrated 365 days a year.
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