Most industries are feeling the squeeze. “Downsizing” is the new buzzword that describes what many face: More work with fewer hands to do it. It’s no wonder so many feel overwhelmed at work.

Working efficiently should be part of our work ethic whether you’re a victim of downsizing or not. But if you are in the throws of a smaller work force, learning to make the most of your time is more critical than ever.

For collection professionals, prioritizing is a must with or without an economic squeeze. Given the enormity of the many details collectors manage, it’s important not to become entangled in the minutia at the risk of losing sight of the big picture.

For that reason, an over simplified snapshot is helpful when prioritizing a day or a week’s worth of work.

The critical tasks come first: collections, credit approvals, cash applications. These are the meat and potatoes that affect operations and/or the bottom line.

It comes down to separating the critical tasks from the non-critical ones. If a task doesn’t impact the bottom line, consider it non-critical. That doesn’t mean it doesn’t get done at all. It just isn’t at the top of the list.

If you’re in a position to delegate, do so. Learning this skill can save your neck if your workload is more than one person can reasonably manage. It’s surprising the number of people in management positions who struggle with delegating responsibilities.

Peace of mind comes with delegating to the right person. Once you’ve placed your trust in someone to take over a task or series of tasks, let it go and let them run with it. Make yourself available to them but keep your hands off.