Five Tips to Help Your Department Reach Its Goals
by Michael C. Dennis M.B.A., C.B.F.

Share the department’s goals with everyone in your department. Focus their attention on the goals you feel are most important. Explain to them individually about the role they play in the department in reaching its goals.

Use graphs, charts and department meetings to keep people informed and more importantly focused on making progress toward achieving the goals established. Try to involve your team in brainstorming about ways to get things done faster, or about how to reverse a trend that is taking your department in the wrong direction.

Make certain your goals, your supervisor’s goals, your departmental goals, and the individual performance goals of every person in the credit department are interlocking and interdependent. Doing so gives everyone an additional incentive to work cooperatively together.

When your department achieves certain goals, or reaches certain milestones, take time to celebrate. Have the company sponsor a luncheon or some other event, ideally on company time, to recognize and reward the efforts made by your credit team.

Make certain that you are taking the time to evaluate individual performance frequently. Your goal is to make certain everyone understands their individual goals and is committed to them. Make certain that you recognize and reward superior performance. At least as important, be sure to counsel and caution employees who for whatever reason are part of the problem rather than part of the solution.