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Our Subscribers Say...
I think Credit Today is fantastic. You cover many practical topics in the credit field that I use regularly. Just one recent example—a conversation on the ListServ about preferential payments—gave me tips that I used in an actual case. The specific information I picked up from this one discussion saved me $10,000, enough to cover my membership for many years!
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Manager of Credit & Collections, ASSA Abloy Americas Division, New Haven, CT
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Credit Manager, Big Lots Stores, Inc., Wholesale Division
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David Dungan, Director of Credit
Justin Brands, Inc. (A Berkshire Hathaway company)
Fort Worth, Texas
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Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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Corporate Credit Mgr
Fulton Paper Company
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Doug M. Thomas
Kimberly-Clark Customer Financial Services |
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THROW STRIKES!
Sometimes the best challenges we receive are the simplest - and also the most obvious. They also can be the most difficult to attain. But being simple, obvious and difficult doesn't mean we shouldn't always strive to achieve them! During the recent Credit Research Foundation conference in Chicago a couple of weeks ago, Kerry Rothlisberger, Manager OTC/Continuous Improvement at Air BP offered a great presentation on the steps they've taken to improve an unacceptably high rate of past dues within their receivable portfolio and improve a lack-luster staff morale.
The presentation offered up many specific steps they took to identify and fix problems, and the results were extraordinary. Although everthing they did is worth discussing, that's not the focus of this week's tip.
What jumped out at me during Kerry's presentation was a comment she made that, in addition to all the steps she outlined, management also simply asked employees to "give just a little bit extra."
"What!?" I wondered.
"What kind of comment is that to make to employees?
"Just try harder? You've got to be kidding me!"
What could be more obvious?
It reminded me of the great Baltimore Orioles manager Earl Weaver, who, when his star pitcher Jim Palmer was struggling to get his pitches across the plate, famously went out to the mound and yelled at his ace:
"THROW STRIKES!"
Palmer, one of the smarter players in the game, related later how he thought "Well, as if I didn't already KNOW that's what I was supposed to do! Of course I'm supposed to throw strikes!" But Weaver, one of the best managers ever, of course knew it was obvious. And he knew it might actually infuriate Palmer a bit.
Still, it worked.
It shocked Palmer out of whatever frame of mind he was in and got him back to what he did best: throwing strikes!
Human Resources Portal For Credit Managers
The biggest problems in credit are not financial issues; they're PEOPLE issues. So we've compiled a portal with all kinds of resources designed to assist credit pros manage this most difficult part of the job. Learn what's working and what's not from those in the trenches, as well as hard data from our benchmarking surveys, including our industry-leading Salary & Job Satisfaction Survey.
Check out Credit Today's
HR Issues Portal for Credit Execs
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But back to Kerry's presentation. Following her comment about giving a little extra, she showed a short but very powerful motivational movie entitled "212 Degrees." Among many other powerful messages, it noted the following:
That water, at 211 degrees, is just hot water. But at 212 degrees, water boils and creates steam, which has enough energy to move a train.
Who are we to know what will happen to us and our companies when give just a little bit extra? And what will happen when we collectively do that?
Just as important: you can argue that this kind of message is corny, but inspirational messages are good food for anyone. It's always good to visualize better outcomes and aim for them. And who knows when that next step, that next bit of extra effort, will be transformational.
And as a manager, sometimes challenging your staff with the obvious might be just the right message.
If you'd like to see the entire clip, it's 2 minutes and 50 seconds well-spent. Just click on the link below!
212 Degrees
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Outlook 2012
This month's survey explores...
- What the top problems are facing credit execs currently, and
- What the top improvement initiatives are.
Click here to participate!
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