20 March 2019 – Cabot Credit Management won Employee Engagement Strategy of the Year Award at the Institute of Customer Service UK Satisfaction Awards held at the Hilton, Park Lane, London on 5 March.
In this category companies had to demonstrate an employee engagement strategy that has led to an improvement in performance and customer satisfaction. The judges were looking for improved staff retention, reduced sick leave and the purpose behind the implementation of the strategy resulting in a positive relationship between management and staff.
The judges for this category said: “Many congratulations to Cabot Credit Management, who don’t have the easiest job in the world – debt collecting. But they do it with a view to restoring their customers’ financial recovery. It’s a bit of a trailblazer in the industry, revolutionising the way debt is collected, and Cabot is also very engaged with its employees, so well done to everyone at Cabot Credit Management.”
The company was up against tough competition including HSBC, Domino and BT Enterprise. This ceremony is the only customer service awards run by the professional body for customer service.
Ken Stannard, Chief Executive Officer, Cabot Credit Management, commented, “We are really proud of this award as it recognises the significant effort and contribution made by everyone in creating a culture that is equally committed to its employees as it is to its customers. That is what makes Cabot a happy and productive environment to work in.”
About Cabot Credit Management
For further information, please visit www.cabotcm.com or contact:
PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082
Note to editors
Cabot Credit Management (www.cabotcm.com) is one of the largest credit management services providers in Europe and the market leader in the UK and Ireland, based on expected future gross cash collections. Cabot provides a range of credit management services across a broad client base that includes some of the largest credit providers in Europe. These services include debt servicing offerings such as early stage collections, business process outsourcing, contingent collections, trace services and litigation activities Cabot has credit management experience across a range of both credit providers (including consumer finance, telecommunications companies, retailers, utilities companies and government agencies) and asset classes (including secured consumer debt, small and medium‑sized enterprise debt, and high‑value accounts).
Between Cabot’s inception in 1998 to 31 December 2018, it has invested a combined total of c£2.6 billion in the acquisition of over £26.5 billion in face value of purchased loan portfolios and has received £3.1 billion in cumulative collections from purchased loan portfolios. As at 31 December 2018, Cabot’s 120‑month estimated remaining collections was £2.7 billion, and Cabot’s 180-month estimated remaining collections was £3.1 billion.
With 21 years of debt purchase and debt servicing experience, Cabot was one of the first companies to engage in the credit management services market in the United Kingdom. In March 2016, Cabot became the first large credit management service company in the United Kingdom to be authorised by the FCA, and in May 2017 Cabot became the first credit management service company in Ireland to be authorised by the Central Bank of Ireland.
Customer service and regulatory compliance are at the core of Cabot’s business and culture and are implemented through its collections strategy. Cabot seeks to treat its customers fairly and offer affordable payment solutions, often through long‑term payment plans. Cabot has customer satisfaction scores in excess of all UK banking and building society benchmarks and many leading high street banks, and Cabot believes that it has one of the lowest rates of complaints in the debt collection industry referred to the UK Financial Ombudsman Service. Cabot has won numerous industry accolades, including 2018 Credit Excellence awards for Best Use of Technology and Best Law Firm, 2018 Utilities and Telecoms Awards for Best Outsourced Call Centre Operation, 2017 UK Customer Satisfaction Award from the Institute of Customer Service, Credit Excellence Awards 2016 for Compliance and the Credit Today Award 2016 for Treating Customers Fairly.