Strengthening Your Contract Management Resume within an Enterprise

Building your resume as a contract manager is easier when you have the backing of a strong corporate brand. The contract management industry trades with one of the scarcest resources in the world: trust. The more trust that your clients have in you, the more able that you are to thrive in your profession. It is critical to have a stable and strong backing from a well-established enterprise that offers a full range of products and services.

Still, having a strong partner can only get you so far. Here are four strategies to further strengthen your contract management resume.

  1. Participate in Continuous Development Programs

On top of your regular coaching by your direct supervisor, take interest in the additional on-the-job and academic training opportunities that your employer provides. For example, some enterprises provide interactive online development courses, such as the ones for your enterprise contract management system, in-person workshops, and tuition assistance options for courses, such as the ones offered by the IACCM.

Contact your supervisor and HR department to learn more about what is available for you. Completing additional certifications strengthens your image as a qualified professional.

  1. Know the Legal Boundaries Within Emerging Technologies

Emerging technologies always disrupt the field of contract management. Just like the addition of email back in the early 1990s created both opportunities and challenges, social media and collaboration tools are doing that today.

Take information that you found through the social media “grapevine” with a grain of salt. For example, the fast rise in valuation of social media businesses creates an opportunity for unscrupulous traders who tempt greedy investors with false offerings. The most famous case is the one of John A. Mattera and The Praetorian Global Fund, both of which were charged by the U.S. SEC  in November 2011 for defrauding investors by falsely claiming that they had access to pre-IPO shares of companies such as Facebook and Groupon.

The symptoms are now the same as they were before. It is through trial and error, and an understanding of necessary full and fair disclosures that the industry eventually learns the proper use of emerging technologies, including collaboration tools, such as Slack, and social media. Understand that it is your duty to remain vigilant and knowledgeable in the evolving nature of rules and regulations in emerging technologies. If you are able to go through the growing pains, you will have an edge over the competition.

  1. Develop an Extreme Focus on Client Experience

Current contract managers have a lot of face time with clients but the future ones will have even more. Smart enterprises are aware of the importance of the extreme focus on client experience. In the future, maintaining client satisfaction will become an even stronger benchmark in determining the performance of contract managers.

Savvy contract managers need to catch on this trend. One of the top reasons why client defect is due to “indifference by supplier,” which can range from inferior client service to passive communication. The bottom line is, there are many different issues that will signal indifference to a client. Managing client expectations, breaking bad news early, and engaging in proactive communication are some of the ways to improve client management.

  1. Reach Out to a Mentor

According to Kathryn Tyler from HR Magazine, professionals who have used a mentor earn from $5,610 to $22,450 more per year than those without a mentor. The contract management industry is no exception to his rule.

Another advantage of working for an established enterprise is that you will have more accessibility to experienced professionals. Round your development with the expert advice from seasoned contract managers within your enterprise.

Takeaway

The backing of a trusted enterprise gives you an edge over your peers, however you still have to work hard. Research the career development options offered by your enterprise, learn the approved guidelines for use of emerging technologies, take a special interest in improving your client management skills, and reach out to a seasoned mentor within your enterprise.

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