Collector - November 2020 - 42

CREATIVESOLUTIONS

Preparing for 2021
End-of-the-year tasks to cross off your list.
By Ronna Denny

O

ne of the most
eventful years
of our lifetime
is coming to an end, and
I am unsure whether to
breathe a sigh of relief
or gather my armor.
Predicting the future is often a guessing
game, so instead, let's work on preparation. 
As we near the end of 2020, there are
steps that leaders must take to prepare
for the new year and the next big thing.
If you are in the C-suite, items on your
to-do list should include ensuring that
your licenses, both foreign and domestic,
are current and up to date, and filing your
company's annual reports. Additional
duties may include reviewing your articles
of incorporation or articles of organization
and filing any needed amendments;
reviewing and updating your marketing
plan; and reviewing your finances while
preparing next year's budget. The next
level of leadership should be involved as
needed. They certainly can assist with
preparing the budget for their division
or department.
Levels of management, other than
the C-suite, will have additional tasks
to complete as the year draws to a close.
Documentation review is a critical
task. Data and information are updated
internally and externally each day, and
you'll want to make sure changes were
made accordingly. Were your written policy
updates consistent with end-of-the-year
data? What about work instructions and
Standard Operating Procedures?
Speaking of documentation, are all your
policies and procedures written down,
cataloged, and easily accessible to the
right staff? 
Performance reviews are imperative,
and most employees look forward to them.

42

The process of performance reviews can
assist in measuring the performance of
your staff. Reviews can help find weak
links, figure out solutions, and identify
new roles needed or required
additional staff. 
The most important end-of-the-year
duties for leaders are celebrating business
accomplishments. Celebrating may
seem unimportant but doing so can
boost your business. As humans, it is
easy to focus on the struggle in front of
us while forgetting past achievements. 
Take a moment to catalog your successes,
your employees and your clients.
Appreciate the employees who make it
happen for you. You can show appreciation
in many ways, such as structured bonuses,
awards programs, and involving the
employees in planning for the next year.
Even if it is as simple as a thank-you card,
showing appreciation to your employees
earns loyalty. 
Client appreciation should also be a
part of your year-end preparation. Clients
are the reason we are in business. Donuts
and coffee are always a hit. You could also
consider a handwritten card, signed by the
entire team, wine, or even a simple phone
call to check in. 
Use these moments to create momentum
for the coming year. They are an excellent
opportunity to build team spirit, increase
morale, and engage employees and clients.
With a huge boost, who would not be ready
for whatever the coming year decides to
throw at us?
Ronna Denny is the senior vice president of
client services for CollectionCenter Inc. She
earned her bachelor's degree from Montana
State University-Billings and believes the
accounts receivable management industry is
vital to the world's economy.

ACAINTERNATIONAL.ORG


http://www.ACAINTERNATIONAL.ORG

Collector - November 2020

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