A credit manager’s legacy: Leading the next generation

Every generation has its strengths in the workplace. Baby boomers are known for their strong work ethic and dedication to their employers. Gen X is known to balance traditional and modern approaches in the workplace. Millennials are tech savvy and thrive in collaborative environments. Gen Z workers are the digital gurus who are quick to embrace new technologies and focus on inclusivity in their work.

Why it matters: Different generations provide different perspectives in the workplace—and in the credit industry, it is important to focus on what brings in and attracts the next generation coming in.

The first step is to focus on what qualities are needed in a credit manager. Seasoned professionals have the experience to teach younger workers how to handle setbacks or mistakes with the right tools. For example, when dealing with credit applications, it is essential to make sure you aren’t missing any small details.

“Thick skin, patience, confidence and attention to detail are important qualities in credit managers,” said Abby Haymore, CBF, assistant credit manager at Sunroc Corporation (Orem, UT). “The reason you need those four qualities is because you are making decisions on behalf of the company. Sometimes things can be overlooked, and yes, we all make mistakes, but you don’t want it to become a habit. You want somebody who can look at the bigger picture and make a decision that is best for the company.”

Inspiration guides motivation, which is why it is important to show how the credit profession is valuable for those who possess the right qualities. Credit leaders hold passion for the profession. It is all about working closely to those who have like-minded goals in all lines of the business. “Being flexible, proactive, prepared, educated, creative and reasonable are all ways to inspire others,” said Ellen Wodiuk, CCE, ICCE, national account executive at The Law Offices of Mark A. Kirkorsky (Mesa, AZ).

Wodiuk’s son has recently gone into the credit profession himself. “Through embarking on his Credit Business Associate (CBA) journey and attending his first NACM Credit Congress, he found that he loved the people,” she explained. “Credit managers are leaders and conductors of the many moving parts it takes to be great.”

Leading by example is another way to inspire the next generation. This goes hand in hand with being an inspiring leader. Focusing on extending a helping hand, giving constructive feedback and advocating for your team members builds trust.

Job satisfaction is the ultimate goal in attracting the next generation. Professionals want to feel a sense of purpose. It goes beyond showing up, getting paid and leaving—a sense of purpose helps connect what you do to who you are. That satisfaction can come from being part of a company-wide team, for example. Working with other teams to be successful with more difficult customers and circumstances is another example of feeling the satisfaction of teamwork results.

Instilling the values of hard work and being rewarded for that work will welcome new leaders into the profession. “You have to understand what your goals are and the expectations of those goals,” said Roxanne Price, CCE, CCRA, NACM Chair elect and corporate credit manager at H&E Equipment Services, Inc. (Baton Rouge, LA). “If you fall short, then you have to go back and understand what happened, why you didn’t achieve those goals or what fell between the cracks. Understand your vision and your mission in the credit profession.”

The bottom line: Having an open mind to what the younger generation brings to the table is a key factor in inspiring the next leaders to join the credit profession.