Leadership Archive

Starting a new job can be tough and having a voice in your head convincing you that you’re not qualified only makes it harder. It could be your first job in credit or a promotion that comes after a decade in the field, and you still might find yourself doubting your abilities and feeling out of place.  

In credit management, change is inevitable. Markets shift, technology evolves and customer expectations rise, and credit professionals either adapt or fall behind.

Businesses are only as good as the people working for them. Each person applies their own knowledge, ideas and skills to advance their organization. When employees succeed, their company succeeds. When workers struggle, so does the business. To support organizational growth and retain the people who made it possible, employers need to invest in their employees’ professional development. 

Each day in credit management brings new challenges, and for managers this might mean a lot of questions from members of your credit team. While it’s natural for your team to rely on you, there is a lot of value in encouraging them to navigate tricky situations on their own.  

After years spent learning the ins and outs of credit management, many professionals will find themselves entering management roles. Whether you’ve been promoted or you’re starting at a new company, it can be intimidating to lead a credit team for the first time. 

There’s no denying that credit professionals encounter their fair share of stressful situations. When their customer files for bankruptcy, for example, they’re navigating shifts in communication, payment expectations and business practices all while seeking sound legal advice. This experience alone can be enough to discourage even the most tenured professionals.

Accountability within the credit department, where missed deadlines and overlooked agreements can send a company into chaos, is invaluable. When a member of your credit team is not meeting expectations, an honest conversation on their performance is critical. But what makes them so hard? 

Picture this: you’re sitting in your living room binge-watching your favorite TV show and you hear your microwave go off in the kitchen. You get up, slide on your house slippers and follow the smell of movie theater butter wafting from a fresh bag of popcorn. As you head back to your favorite spot on the couch, it dawns on you that tomorrow’s Monday.