LEADERSHIP: FOR SURVIVAL AND BEYOND

Published: 2009-06-29   please add a comment below

Apart from the paramedics, surgeons and undertakers of the business world, the rest of us are struggling.  Only bankruptcy specialists and their like are thriving.  Sadly, I'm not one of them.  So, I keep fighting; but, I also focus on life beyond the slump.  Why?  Because we can all learn something from people who've survived gulags and similar camps.  The secret is not strength or youth, but vision of a different and better future.  So, would your staff say you think beyond surviving the current quarter?  And, even if they're impressed with your "fire-fighting", do they sense you're leading them somewhere worth going in the future?  From recent discussions, here are some pointers I've heard for leaders to consider.

• Monitor change both widely and carefully.  You need to do this yourself - to unearth facts and not just hysteria and repetition that passes for news.  What are the new drivers of the local economy?  Have things bottomed in your market?  What do those changed regulations mean in practice?  We're all having to take big decisions about our businesses, investments, staffing and so on.  And, in the final analysis, it's our decision - and absolutely critical: the tide's low or still going out; certainly not "lifting all boats".
• Have two sets of goals and metrics: Forget those growth goals set two years ago - and develop news ones.  First, gritty 12-month survival goals around cash-flow, revenue, costs, stock levels, staffing, etc.  But, also something aspirational beyond: for example, to gain market share across the slump (as some are doing), to maintain quality differentiation, staff engagement, etc.  If you want people to slog through the mud, they need to see a light-on-the-hill that excites them and is worth struggling to achieve.
• Craft your communications more carefully than ever.  If people are frightened, you must ensure your messages reach everyone - whether about market conditions, company goals or whatever.  So, put yourself in their shoes and address their concerns, not yours.  And, select language that paints a picture, sounds interesting and feels right to them.  Avoid jargon and senior-talk.  And, above all, show energy and enthusiasm.
• Take the tough decisions - and as quickly as possible.  No-one likes to cut products, reduce benefits or, worst of all, fire staff.  But, in the survival period, there may be no choice.  And, it's better to have one significant cut than a series of small gashes that breed a continuing sense of impending danger.
• Show both courage and empathy.  Nothing erodes credibility faster than avoiding tough choices or getting others to do your dirty work.  But empathy is also key.  And, you can actually gain credibility during periods like these.  People know dramatic change is needed.  So, it's how you act as well as the acts themselves that count - both for those impacted directly and those you hope to still have working with you two years on.

Dr. Timothy Pascoe AM
PhD (Cambridge), MBA (Harvard), BE & BEc (Adelaide)
Creator, V|E|C|T|O|R Leadership^®