CM June 2021 CM magazine

OPINION
An Injection of Learning
Johnson & Johnson is reaping the benefits of an
L&D partnership with the CICM.
AUTHORS – Sam Wilson and Sean Feast FCICM
FOR one of the world’s most
valuable companies, credit
management is a businesscritical
responsibility, reliant
on policy, process and – most
importantly – a highly skilled
team of credit management professionals.
So, when Johnson & Johnson started its
I2C transformation journey, one thing
stood out as a key ingredient for success:
learning and development.
The American multinational has been
a stalwart of the global pharmaceutical
industry since 1886 and in the past year
has been one of the big four spearheading
the global race for a COVID-19 vaccine.
All of these challenges have steered
Johnson & Johnson into a European-wide
development partnership with the CICM
to develop, nurture and support its credit
management professionals.
For Karen Tuffs, Johnson & Johnson’s
UK and Ireland’s Senior I2C Credit
Controller, the partnership with CICM was
a natural progression for the company as
its I2C transformation continued. A 33-
year veteran of credit management and
graduate of the CICM study programme,
she knows first-hand how a partnership
with the institute could further enable the
credit management team.
Having trained with the ICM (as it was
then) when she began her career in credit
management, it wasn’t until 2014 when she
joined Johnson & Johnson and met her
like-minded manager Olivier Theodore,
that together they hatched a plan to create
their own programme.
“My involvement with colleagues,
seeing their development and their success
is one of the most rewarding aspects of
my career,” Karen explains. “It feels like I
can give something back to a profession
that has given me so much! None of this
would have been possible without the
CICM of course, and it has been a privilege
to work with them and we’re looking
forward to what more we can achieve
together.”
PARTNERSHIP APPROACH
The L&D partnership between CICM and
Johnson was formed in 2018 and launched
with a trial of 10 students in Prague, one
of Johnson & Johnson’s European global
finance hubs. However, the partnership
has been a unique one. The aim of the
first cohort was to assess what worked for
Johnson & Johnson and provide student
feedback to the CICM and to Karen and
her team as well as assess the course
content and any hurdles that could be
circumvented, such as language barriers.
“Our plan from the outset was to create
a flexible training course that would allow
our teams to achieve what they wanted
to achieve within their own career. We
trialled the course with 10 students
over three years ago and it’s been such a
success that we’re still working together.
The success rate of the first cohort of
students was extremely high, with an 82
percent pass rate for credit management
exams and an 89 percent pass rate for
the business environment exams. The
first group has now moved up on to
level three qualification and with that
they’ve inspired so many that a waiting
list is now in place for enrolment on to
the first modules. The development and
feedback from the first few cohorts gave
Johnson & Johnson and the CICM the
opportunity to tailor their training and
study courses depending on what was
working and delivering results for their
students.
“Being able to tailor the learning plan
has really allowed us to dial into what
matters for our organisation but also
what’s important for our colleagues’
futures. The course teaches them what
they need to know for their role at Johnson
& Johnson but will also enable them to
Advancing the credit profession / www.cicm.com /June 2021 / PAGE 14