BUSINESSOPERATIONS with workflow around a particular process or balancing the work/life equation. Let the mentee take the lead, while you oversee the process by offering guidance. Career knowledge isn't always intuitive. Many people learn best from shared experiences. This type of mentorship can help build the next generation of leaders at your company and in the ARM industry. SHOULD YOU ONLY MENTOR RISING STARS? Both rising stars and at-risk staff members can benefit from mentorship. There are people who could build a strong career with your company with a little extra interaction or care. Determine how to best leverage each person's skillset or personality to your organization's and their mutual advantage. Some people leave companies because they don't seem to "fit the mold" without realizing that their unique point of view may actually offer great value. Coaching and mentoring these people could result in a different outcome for them and the company. WHAT'STHE DIFFERENCE BETWEEN MENTORING AND LECTURING? Sometimes you need to leave the office environment so your advice or guidance won't be viewed as a corrective. Sit outside in the sun. Take a walk around the office campus. Drive somewhere to get lunch. Remove mentees from the day-to-day grind to think through what's happening in their career and life, while offering useful guidance. It can be difficult to be on the receiving end of constructive criticism when you are in the moment. However, offering feedback and an alternate point of view shouldn't be construed as a bad thing. That's what will help mentees grow and improve their overall performance both at work and at home. MENTORSHIP IS THE KEY TO GROWTH ARM industry leaders should take a step back to figure out how they are going to motivate and retain employees. They need to help them to see their work as a career and not just a job. Think about what works inside your organization before offering advice and guidance. Don't reject venting sessions. These "moan and groan" opportunities will help employees do more than complain- they will help staff connect with leaders in your organization. This can encourage them to do a better job, as they will feel they have a seat at the table. They will appreciate knowing management is listening. Now more than ever, listening and being able to communicate effectively are key tools for success in the collections industry. Mentoring or career-related coaching could reduce attrition and create a happier, more productive work environment. Michael Lamm is managing partner at Corporate Advisory Solutions, a boutique merchant bank with offices in Philadelphia and Washington, D.C. Lamm hosts the ACA Cast podcast series Leadership Fuel With Michael Lamm. He can be reached at mlamm@corpadvisorysolutions.com or (202) 904-7192. Calling All Writers! We're accepting articles from our readership.* Collector magazine invites credit and collection professionals of all levels into a community of experts who share their hard-won experience through in-depth process and data-driven articles. Send your article pitch or summary to Anne Rosso May at either » rosso@acainternational.org or » Anne Rosso May Collector Magazine 4040 West 70th Street Minneapolis, MN 55435 *Qualifying participation for the Continuous Service Award COLLECTOR 11.19 39