Your growth is good business: How credit professionals can advocate for development

Career development is the key to long-term success within any profession. In a rapidly changing field like business-to-business (B2B) credit, professional advancement is essential. Yet not all professionals know how to advocate for it, and not every organization prioritizes it.

Why it matters: Without meaningful support, both professionals and organizations risk missing opportunities for growth. With the right resources and determination, credit professionals can take ownership of their careers while contributing to the success of their organizations. 

Credit management stands out as a profession without a rigid career path or mandatory college degree. Professionals are typically hired for their experience, skills and character, enabling them to make sound judgments that protect a company’s financial standing. Over time, they continue to develop technical skills by seeking educational opportunities. 

Given their critical role, it’s natural to assume that most companies would actively encourage the development of credit talent. However, only 36% of credit professionals feel very supported by their company when it comes to career growth and development, according to a recent eNews poll. By comparison, 23% feel somewhat supported, 18% feel not very supported and another 23% report feeling not supported at all. 

Oftentimes, this lack of buy-in stems from a company’s values. Other times, the organization may lack the resources or funding to promote professional growth. “It’s hard to just come out and ask for advancement opportunities, especially if you’re a newer employee, because it often requires a financial investment and time away from the office,” said Brittany Acone, CBA, CICP, credit manager at Seaboard International Forest Products, LLC (Nashua, NH). “But I think it’s important to at least have the conversation with upper management, as uncomfortable as it may be.” 

Advocating for yourself 
With any change, senior leadership is focused on the return on investment (ROI). How will this venture ultimately benefit the company? For one, it helps improve the performance of the team members, which then allows them to meet departmental and company goals. 

“I align my career goals with what the business is seeing and what their objectives are,” said Acone. “For example, credit analysis training from NACM can help me make faster, more accurate credit decisions. If you’re framing it as a win-win for you and the company, I think any C-suite leadership team would be wise in making that investment. It helps to demonstrate value through metrics like lower Days Sales Outstanding (DSO), improved collections performance and reduced bad debt write-offs.” 

Convincing leadership of the long-term benefits that position the company for growth is helpful. “I tell them how the people I meet and the relationships I build at conferences and meetings serve me well in the future,” said Adam Aune, credit manager at Butler Machinery (Fargo, ND). “NACM’s mentor-mentee program and my local NACM Affiliate trade group meetings offer feedback and guidance from others in my industry, specific to my region.” 

One conversation isn’t enough. Having follow-up conversations can help them see the value in investing in your professional development. “I used to ask these questions about how I could improve before I got promoted because I wanted my manager to know that I was interested and willing to learn,” said Acone. “Ultimately, showing initiative and bettering your skills will get you where you need to be.” 

Earning approval from upper management requires more than words; it requires action. If cost is a concern, obtain scholarships to help with expenses. “My company already provides us with learning opportunities, but I’m consistently sharing webinars and articles from NACM with my superiors so that they can see how useful the information is,” said Lisa Christofano, director of billing and collections at Kings III Emergency Communications (Coppell, TX). “If you apply what you’ve learned and follow your core company values, you’re more likely to earn buy-in.” 

The bottom line: In the end, it’s not just what you ask for, but how you ask for it. Supporting your reasoning with research, passion and actionable results will help secure support for continuous improvement.