To a significant extent, a credit manager's value to their employer
is measured in terms of the performance of those who work for them.
To be a truly effective manager, you must be an effective leader.
Leadership is the process of influencing your subordinates to accomplish
specific goals and objectives by providing advice, direction, encouragement,
feedback, motivation, support and training.
To be a good leader, you must:
Accept the blame when inadequate or improper training results
in mistakes and other problems
Allow subordinates to participate in the decision making
Be technically competent, but tolerant of employees who are
not yet fully proficient at their jobs
Compliment in public, but criticize in private
Explain how to perform a particular task as well as the reason
the job is necessary
Hold subordinates accountable for their actions or inaction.
Remember that people tend to perform according to what is expected
Identify the relationship between the work performed by subordinates
and the larger objectives of the department
Keep subordinates informed through regular discussions
Make your subordinates jobs as meaningful as possible
Never ridicule suggestions made by subordinates [doing so
is the surest way to discourage creativity in problem solving
Provide challenging assignments
Refuse to step in too quickly when subordinates start to
struggle with assignments
Set high but realistic goals for subordinates
Set an example for everyone to follow
Share the credit with subordinates when departmental goals
are met or exceeded
Take responsibility for your actions
Work at developing a team approach to solving problems and
Work to capitalize on the strengths of each of your subordinates
Traits of a Leader
Not all credit managers are leaders.
A leader will possess the following traits:
Superior communication and Interpersonal skills
Some credit managers take a hands off approach to personnel
management - reasoning that once people are fully trained they
do not need a manager looking over their shoulder and/or reminded
of the importance of their work, or of the need to do the best
job they can. The risks associated with too little supervision
- A perception that the credit manager does not care about the
subordinates, and does not value their work or their accomplishments
- Misunderstandings and miscommunication,
- Poor coordination between and among the members of the department,
- Poor performance for the department as a whole.
On the other hand, too much supervision tends to stifle creativity
and initiative, and can be both de-motivating and demoralizing.
One way to overcome this inherent problem is to disguise your
instructions as suggestions. If your team members believe they
have autonomy and authority over their work, you are likely to
get better results than you would by giving orders.