Tag: Leadership

Retirement is one of the most significant decisions in a professional’s life, and for credit managers, it comes with its own set of unique challenges. The transition from an active career to retirement requires careful planning and thoughtful consideration of numerous factors—from financial stability to passing the torch to the next generation of leadership.

Anyone can benefit greatly from joining an association, yet 56% of associations admit they have trouble engaging young professionals, according to Naylor’s Association Communications Benchmarking Survey. However, many factors that millennials and Gen Z value most—such as networking, collaboration and educational opportunities—are abundantly available through associations.

From handling customer disputes to managing cases of bankruptcy, credit professionals are often faced with high-stress situations. However, prolonged stress can lead to burnout, particularly during year-end when workloads intensify.

“I knew what he was going to say the moment he walked into my office,” Joe told me. He was reeling from the resignation of Alex, his top performer, who a competitor recruited to a VP job with a seat in the C-suite. Joe desperately needed to vent, and as luck would have it, we were scheduled for our weekly coaching discussion the same day he received the news.

On today’s episode of Extra Credit…From handling customer disputes to managing cases of bankruptcy, credit professionals are often faced with high-stress situations. However, prolonged stress can lead to burnout, particularly during the year-end when workloads intensify.

It’s hard to avoid stress in the workplace—whether it’s current events weighing on you or new leadership in your office creating tension, stress can pop up at any place or time. For managers, it can be hard to lift spirits when office morale is stifled by external and internal stressors outside your control, but it is undeniably important. 

Andreia Magarinhos, CCE, senior regional credit manager at Ferguson Enterprises LLC (Chantilly, VA), said that earning her Certified Credit Executive (CCE) was an important goal in her professional growth. “It has always been important to me that I lead by example, and I often speak to my team and peers on the importance of continuous self-development.” 

The shadows of ineffective leadership loom large, threatening to trap credit leaders in a web of pitfalls that could spell disaster for their teams.

As budgeting season kicks into high gear for many companies, credit managers are finding themselves ready to advocate for their department’s needs. Whether working solely on department budgets, helping to shape company-wide spending plans or anticipating risk, the process can be daunting.