It’s fair to say, working in the credit industry can be a tough gig! Credit professionals not only have to deal with challenging customers but also push back within their own organisation. Couple that with often repetitive tasks and even the most experienced Credit Manager can find it difficult at times to keep their team engaged.
Team engagement is more than just a couple of buzz words. Organisations are consistently seeing a correlation between engaged staff and profitability and I have no doubt, you as a Credit Manager also see a correlation between your team’s engagement and the outcome of their activity.
So, how do you ensure you keep your team engaged during a challenging period?
To inspire people to give their best they must believe in the cause or direction they’re going in. When team members are united in belief, they will all be on the same page and working with passion.
A simple way to achieve buy in is to empower your Credit Team by including them in discussions. Ask for your team’s opinions and ideas on how planned tasks can be accomplished.
Have you sat down with each of your team to find out what motivates them and why they come to work each day? Once you’ve been able to ascertain their individual motivators you can align them with the goals/targets of your team or organisation. I personally put this in place and I was very surprised to find out what motivated each of my team members. Funnily enough, their motivators always reached beyond money. I found out one of my team members LOVES learning. Talking further with her about this, she came alive and showed a real passion for learning. I’ve now been able to line up the achievement of her KPI’s and targets (company goals) with an outcome of further studies/courses (her motivators).
2. Support and appreciation
There are typically two ways to ‘encourage’ people, the carrot (give them an incentive) or the stick (punish them for not making the standard). With the stress that comes along with the daily grind, it’s easy to go into default mode where we are quick to criticise and slow to praise or reward.
To get the most out of your employees, show your support and appreciation by giving genuine praise in public (a sincere thank you is enough!), and only communicate areas of development or concern in private.
3. Resources to do their job
Your team deserves the tools to do their job as well as they can. Providing them the best of what they need will make them feel valued. People who feel valued will work harder and often enjoy a closer bond to those they work with.
Providing staff with what they need along with support and appreciation plus aligning their motivators to the goals of your team will ensure your staff stay focused and engaged during challenging periods.
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