In Focus Consumer Credit
Lead or be led
Change is an inevitability of business life – so make sure you are at the head of it
Robert Hutson Global credit consultant, HP Inc.
robert.hutson@
hp.com
The old business adage that ‘one constant is change’ presents a real-life paradox that continues to challenge people at one time or another, and to one degree or another. How to approach and handle the inevitable
change that comes our way, can have a profound effect on our physical and mental well-being, as well as on our career development and professional opportunities. Some of us find it easier to accept change
as it occurs and deal with the unpredictable, while, for others, even the prospect of change can generate major levels of work-related stress and personal anxiety. Working in credit management through
the $25bn share-swap merger of Compaq and HP and then the split of Hewlett Packard itself into two $50bn revenue corporations, I share a few thoughts that may help others manage their way through times of continual and unpredictable change in the workplace.
Personal strategies Anticipate the effects of potential change as soon as you are aware of it. This provides an opportunity to reduce the element of surprise, potential disappointment and resulting stress. Embrace the change by recognising and
accepting what you cannot influence, and focus on the advantages and opportunities presented by what you may be able to change for the better. A personal decision must be reached early
on: will I be part of the change or not? If yes, then leading it in one’s area of responsibility, or influence generally, has major personal advantages. It shows support for management decisions and is an example to reluctant and sceptical team members, upon whose good will your own success may depend. Driving the changing environment gives a greater chance to shape the future and to improve organisational and operational efficiency.
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Personal preparation Leverage the power of your personal network: lWho, rather than what, you know is increasingly important, so aim high and wide in developing professional contacts. l Develop your reputation for being a dependable trusted advisor who can find the answer to questions and issues, even if you do not actually know it. l Recognise the limitations of what you can achieve alone, and build essential and useful partnerships with people and groups whose views and own interests you can leverage to your own advantage. l Reach outside your own department, organisation, and company to others who may have similar change experience from which you can learn. l Be memorable – it is worth developing a number of ‘elevator pitches’ you can recite in 10 seconds for those brief passing moments when you get the opportunity to make your point to a senior executive who may influence your outcomes.
priorities, looking for common objectives and developing collaboration. l Be seen to support key business drivers like revenue growth and technology advancement – but then leverage reciprocal support where you need it. l Cross-functional project participation, work shadowing, and mentoring broadens the scope of awareness of, and alignment to, other functions’ objectives and aspirations.
Implementation Lead from the front: l Display infectious enthusiasm for the future state, selling the benefits, but being realistic. l Share the vision and plan as widely as appropriate, but wisely limit the sharing of any uncertainty. l Do not over-commit on what you, or others, may be able to deliver, and share what cannot be changed. Be part of the team:
Embrace the change by recognising and accepting what you cannot influence and focus on the advantages and opportunities presented by what you may be able to change for the better
Know what is going on: l The credit function deals with many more areas of the business than most – use that fact to explore their future plans and
www.CCRMagazine.co.uk
l Devote time to the individuals – your success depends on supportive team players implementing the plan. l Appreciate different individual reactions to the change – ask them to share concerns and suggestions so they feel part of the plan. l Share how you and other management may also be negatively impacted by the changes as well. l Explore and discuss career opportunities that may arise from the changes. At a time when I was driving significant
organisational change, a question was asked if I was not “engineering myself out of a job”? My response was “out of this job, yes, but by demonstrating effective change leadership, I should now be qualified for a better one”. In such circumstances, our only real options are to opt out of the change, be led by it, or lead it ourselves. The greatest satisfaction comes from the latter. CCR
November 2017
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