As the old saying goes, “Nothing is constant, but change.” This is particularly true in the pandemic and post-pandemic world we all have to deal with. It is a good time to step back and understand how to help credit staff deal with the changes in our work environment, business conditions, and the technologies we must adapt to in order to work efficiently and effectively.

Help Your Staff Deal With Change by Supporting Them

It starts by keeping them up to date on changes affecting them. Show you are interested in how they are affected by the stress and pressures from changes in their work environment and expectations. As you manage through this, pay particular attention to their performance. Recognize even small victories. Identify areas early where they need improvement. Provide them with guidance, instruction, and help.

Here are five steps you can take to effectively manage in a “change environment”:

1. Listen and Solicit Feedback: It is more important than ever to listen to your staff. They have a day-to-day front-line perspective. Your staff deals with customers, and the process, and technical issues affecting the department's workload and performance. This is a time to have frequent personal contact with each member of your staff. Some people may need more personal attention than others. By interacting as frequently as needed you are showing an eagerness to support them as they deal with ongoing changes. Take the time to listen to their concerns. Tap what they have to say as a resource. Act to resolve the issues raised.
2. No Surprises: The last thing your staff needs is a surprise when changes are planned that directly affect them. Keeping them informed will evoke the feedback you need to avoid a potential crisis. Your staff will feel a sense of importance and ownership and will be less resistant to changes. By knowing what is needed in advance, they will be better prepared to handle what is coming.
3. Don't Sugarcoat: Managers may tend to avoid disclosing information that may add to staff stress or dissatisfaction. Don't fall into the trap of just telling staff that “everything is going to be OK” and leave it at that. Your staff wants to know the truth about the problems the department faces, what you plan to do, and how they can help.
4. Involve Your Staff: Everyone wants to have some control over issues affecting them. By involving your staff in the decisions that have to be made, you will get invaluable feedback. Once your team has dealt with, what seemed like an insurmountable challenge, you will have built the goodwill needed to handle the next crisis. Involvement also provides side benefits from better team morale and reduced potential for staff turnover.
5. Manage Up: Be sure to keep your management aware of what you are hearing from your staff. By sensitizing senior management to your department's challenges, you are more likely to gain support for the resources and tools you need to keep performance and employee satisfaction on track.

Conclusion:

We are in the midst of many changes in the business climate and the demands made on credit departments. Change can cause stress both on the organization as a whole and on credit department employees. By keeping your staff informed, listening to their reactions and suggestions, and providing feedback to senior management, you will come up with better solutions, and maintain a productive and well-supported department.

Here's a 15-minute video on how to broadcast Your credit department's performance