A couple of questions you could delve into could be:
The pre-pandemic workplace comprised of Pre-Brexit buzzing office - based environments where personal and collection issues could be shared with colleagues across a desk or escalated to easily accessible managers, often dissipating potential pressure points instantaneously.
In the first few months following lockdown businesses quickly adapted, bringing forward automation plans and introducing infrastructure more aligned to remote working. However, the collection teams themselves faced a wall of silence as their counterparts in previously reliable trading partners were also locked down and were not as easily accessible. Furlough helped many companies in the short term, but the inability to trade was putting pressure on balance sheets and staff alike as anxiety and frustration resulted in disengagement. New ways of working were introduced to reengage disenfranchised team members. Managers rolled their sleeves up and became more invested in the granular detail using all stakeholders as a collective to reawaken dormant communication and to encourage prompt payment. This in turn, raised the profile of the collection/credit teams. Always a good thing!
In a post pandemic landscape much has changed in the world leaving a seismic aftershock of uncertainty. The global economy has contracted significantly with supply chain issues being further exacerbated by Post Brexit bureaucracy, the Ukraine – Russia war and post covid China. It is fair to say that there is a general Aire of unease.
Caution has resonated across credit markets and insurance alike and the pressure on credit and collection teams has never been greater. Unlike previous global downturns this feels different, newly built draw bridges are being pulled up as large economies and companies alike prepare themselves for the bumpy road ahead.
Frontline teams face increasing pressure to collect overdue debt from companies who have changed their ways of working. Where contracts were agreed in happier times and credit extended without borders by less risk averse global markets, the turbulence created by recent uncertainty has come as a shock, and companies are reacting accordingly. The requirement for proactive cooperatives within business has never been greater in order to give each department valuable insight on the impact of upstream agreements using the lens of the end user.
Whether hybrid or office based, working collaboratively as a business naturally evolves in an office environment as ideas are shared and change in practice communicated. Support networks naturally evolve through human interaction, and this is equally as important as technical and legally binding agreements. Collaborative ownership offers cohesion and unity with all interested stakeholders to ensure the success of the collection teams and will naturally promote a feeling of wellbeing.
Savant Recruitment Experts has a dedicated team of Finance specialists, backed by market research, possessing extensive experience and expertise in Finance talent solutions. If you are looking to build or expand your Finance function, we can offer you our support with the best talent in the industry and market-leading onboarding advice and consultation. To know more about how we can assist you, please reach out to us at - finance@savantrecruitment.com
