Leading in time of disruption.
2020 is proving to be a crisis year on so many fronts for many organisations and the people who work within them. Even if revenues have not been hit there has still been the uncertainty, health concerns and how to keep employees safe and productive—to contend with. This is an unprecedented time for the world and as we can see, world leaders and experts are struggling to even assess the size of the challenge never mind take control of the situation. Business leaders in multinational corporations are facing scenarios and dilemmas that they had never envisaged. Owners of SME’s are feeling the pressure in multiple ways. We have limited resources, less access to financial lifelines and fewer experienced management heads to help make wise decisions.
None of us have experienced anything like this situation, but some of us have the battle scars of running business in extremely challenging times, be it in recessions or through reengineering existing businesses by dramatic transformation. About 70% of my career fell into one of those two categories: either the “we have 12 weeks to save the business” scenario or the “the dramatic transformation to meet an opportunity” variety. This is what I have learnt from leading businesses through change, crisis and disruption.
No 1. This is no time to be the Hero boss. It’s not your job to carry the business by yourself. Be clear in your own mind that everyone in your team benefits by the business surviving and thriving—clearly ask and expect everyone to do their part for the overall good of the company.
No 2. Lean into your expert resources. If you have a management team and/or advisor consult them. You will have to sign off on the agreed plan for sure, but there are those who can add to the thinking with either expert knowledge or operational experience and deeper team knowledge. Use it.
No 3. Communicate, Communicate, Communicate. Once you have a plan be as transparent and as honest as you can. People can tell when you are holding back which will send your company system into a spin and productivity will dive because the team will be distracted with worry and rumour. If you have applied No 1 then lead by showing your team that you are all in this together. In a crisis there are so many things are out of your control; be clear with the team that this is the best plan you have for what you know.
No 4. Treat your clients like partners. We are being asked as nations to stand shoulder to shoulder so ask your larger clients what they can do to support you. It’s in no one’s interest for smaller, specialised, hard-working and dedicated suppliers to go out of business. When we are out the other side of this, our clients will be looking to speed up and will need us to be there. So, work out how your clients can best help you and make a specific ask of them that would be truly helpful. If you have completed a chunk of work on a project and they are now holding back from full delivery—ask them to pay for what has been done. As always cash is king in a crisis. For those who work in large companies, check out what your company is doing to support its suppliers. Reputation is as key as customers and in a world crisis companies will be judged on how they treated stakeholders.
No 5. Look after yourself. No one wins if you run yourself into the ground and burn out. Eat as well as you can, get some exercise, even a walk and fresh air (while we still can). Take a few minutes out a couple of times a day just to breathe. This is not indulgent this is absolutely necessary. The science is clear—if we get deep and sustained stress then the brain will flood with cortisol and the fight or flight response gets triggered. At that point, we literally. Cant. Think. Straight. The word crisis comes from the Greek work Krisis which literally means a decision is needed. So, you need all of your wisdom, rationality and capability at your disposal. Look after yourself and encourage your team to do likewise.
No 6. Test, learn and innovate. For many businesses to survive this, they will have to change. Fully expect you and your team to be operating in a different way when the dust eventually settles. That means learning new skills, introducing new systems and ways of working. You may even find yourself developing new products. Encourage the team to try, test, learn and then share with each other. The likelihood is you will be a more skilled and agile team as a result.
Annette Burns Young has decades of experiences leading businesses and developing teams through transformation. Her latest business is in coaching leadership skills and advising entrepreneurs on transformation & transition.